Common use of Changes to Policies and Procedures Clause in Contracts

Changes to Policies and Procedures. If during the term of this Agreement the Fund intends to revise any of its rules, policies, or procedures (including without limitation the Standards) and such change is material, or intends to adopt new rules, policies, or procedures by a Decision that, in the Fund’s opinion, applies to the Accredited Entity, then: (a) the Fund shall so notify the Accredited Entity and allow the Accredited Entity a reasonable period of time to provide its comments to the intended revision or adoption. The Fund may take any comments received from the Accredited Entity into account when finalising the proposed revision or adoption;‌‌ (b) Upon the relevant Decision, the Fund shall notify the Accredited Entity. The receipt of such notice shall require the Accredited Entity to (i) take any necessary or appropriate action; or (ii) inform the Fund that it is unable or unwilling to, through the compliance with the Accredited Entity’s own policies and procedures, comply fully or partially with the rules, policies and procedures of the Fund as revised or adopted (the “Revisions”) from a date that is one hundred and eighty (180) days following such notice; and (c) In case of Clause 32.04(b)(ii), the Parties will consult with each other with the aim of resolving such matter within a reasonable period, which will not be less than one hundred and twenty (120) days, before the Accredited Entity’s accreditation may be deemed to have lapsed and Clause 22.01 shall apply.‌ For the avoidance of doubt, the relevant Revisions shall apply only to new Funding Proposals.

Changes to Policies and Procedures. If during the term of this Agreement the Fund intends to revise any of its rules, policies, or procedures (including without limitation the Standards) and such change is material, or intends to adopt new rules, policies, or procedures by a Decision that, in the Fund’s opinion, applies to the Accredited Entity, then:then:‌ (a) the Fund shall so notify the Accredited Entity and allow the Accredited Entity a reasonable period of time to provide its comments to the intended proposed revision or adoption. The Fund may take any comments received from the Accredited Entity into account when finalising the proposed revision or adoption;‌‌adoption; (b) Upon upon the relevant Decision, the Fund shall notify the Accredited Entity. The receipt of such notice shall require the Accredited Entity to (i) take any necessary or appropriate action; or (ii) inform the Fund that it is unable or unwilling to, through the compliance with the Accredited Entity’s own policies and procedures, comply fully or partially with the rules, policies and procedures of the Fund as revised or adopted (the “Revisions”) from a date that is one hundred and eighty (180) days following such notice; and (c) In in case of Clause 32.04(b)(ii32.05(b)(ii), the Parties will consult with each other with the aim of resolving such matter within a reasonable period, period (which will be not be less than one hundred and twenty (120) days, ) before the Accredited Entity’s accreditation Accreditation may be deemed to have lapsed and Clause 22.01 22.02 shall apply.‌ apply. For the avoidance of doubt, the relevant Revisions Revision(s) shall apply only to any new Funding Proposals.Proposal or proposed Funded Activity as well as to any ongoing Funded Activity, to the extent relevant and deemed reasonably possible by the Accredited Entity, in accordance with its policies and procedures.‌

Changes to Policies and Procedures. If during the term of this Agreement the Fund intends to revise any of its rules, policies, or procedures (including without limitation the Standards) and such change is material, or intends to adopt new rules, policies, or procedures by a Decision that, in the Fund’s opinion, applies to the Accredited Entity, then: (a) the Fund shall so notify the Accredited Entity and allow the Accredited Entity a reasonable period of time to provide its comments to the intended proposed revision or adoption. The Fund may take any comments received from the Accredited Entity into account when finalising finalizing the proposed revision or adoption;‌‌adoption; (b) Upon upon the relevant Decision, the Fund shall notify the Accredited Entity. The receipt of such notice shall require the Accredited Entity to (i) to take any necessary or appropriate action; or (ii) inform the Fund that it is unable or unwilling to, through the compliance with the Accredited Entity’s own policies and procedures, comply fully or partially with the rules, policies and procedures of the Fund as revised or adopted (the “Revisions”) from a date that is one hundred and eighty (180) days following such notice; and (c) In in case of Clause 32.04(b)(ii31.05(b)(ii), the Parties will consult with each other with the aim of resolving such matter within a reasonable period, period (which will be not be less than one hundred and twenty (120) days, ) before the Accredited Entity’s accreditation Accreditation may be deemed to have lapsed and Clause 22.01 22.02 shall apply.‌ apply. For the avoidance of doubt, the relevant Revisions Revision(s) shall apply only to new Funding Proposals.

Changes to Policies and Procedures. If during the term of this Agreement the Fund intends to revise any of its rules, policies, or procedures (including without limitation the Standards) and such change is material, or intends to adopt new rules, policies, or procedures by a Decision that, in the Fund’s opinion, applies to the Accredited Entity, then: (a) the Fund shall so notify the Accredited Entity and allow the Accredited Entity a reasonable period of time to provide its comments to the intended proposed revision or adoption. The Fund may take any comments received from the Accredited Entity into account when finalising the proposed revision or adoption;‌‌adoption; (b) Upon upon the relevant Decision, the Fund shall notify the Accredited Entity. The receipt of such notice shall require the Accredited Entity to (i) take any necessary or appropriate action; or (ii) inform the Fund that it is unable or unwilling to, through the compliance with the Accredited Entity’s own policies and procedures, comply fully or partially with the rules, policies and procedures of the Fund as revised or adopted (the “Revisions”) from a date that is one hundred and eighty (180) days following such notice; and (c) In in case of Clause 32.04(b)(ii32.05(b)(ii), the Parties will consult with each other with the aim of resolving such matter within a reasonable period, period (which will be not be less than one hundred and twenty (120) days, ) before the Accredited Entity’s accreditation Accreditation may be deemed to have lapsed and Clause 22.01 22.02 shall apply.‌ apply. For the avoidance of doubt, the relevant Revisions Revision(s) shall apply only to new Funding Proposals.

Changes to Policies and Procedures. If during the term of this Agreement the Fund intends to revise any of its rules, policies, or procedures (including without limitation the Standards) and such change is material, or intends to adopt new rules, policies, or procedures by a Decision that, in the Fund’s opinion, applies to the Accredited Entity, then:then‌‌ (a) the Fund shall so notify the Accredited Entity and allow the Accredited Entity a reasonable period of time to provide its comments to the intended revision or adoption. The Fund may take any comments received from the Accredited Entity into account when finalising the proposed revision or adoption;‌‌adoption; (b) Upon upon the relevant Decision, the Fund shall notify the Accredited Entity. The receipt of such notice shall require the Accredited Entity to (i) take any necessary or appropriate action; or (ii) inform the Fund that it is unable or unwilling to, through the compliance with the Accredited Entity’s own policies and procedures, comply fully or partially with the rules, policies and procedures of the Fund as revised or adopted (the “Revisions”) from a date that is one hundred and eighty (180) days following such notice; and (c) In in case of Clause 32.04(b)(ii), the Parties will consult with each other with the aim of resolving such matter within a reasonable period, which will not be less than one hundred and twenty (120) days, days before the Accredited Entity’s accreditation may be deemed to have lapsed and Clause 22.01 22.02 shall apply.‌ apply. For the avoidance of doubt, the relevant Revisions shall apply only to new Funding Proposals.Proposals.‌

Changes to Policies and Procedures. If during the term of this Agreement the Fund intends to revise any of its rules, policies, or procedures (including without limitation the Standards) and such change is material, or intends to adopt new rules, policies, or procedures by a Decision that, in the Fund’s opinion, applies to the Accredited Entity, then:then:‌‌ (a) the The Fund shall so notify the Accredited Entity and allow the Accredited Entity a reasonable period of time to provide its comments to the intended revision or adoption. The Fund may take any comments received from the Accredited Entity into account when finalising the proposed revision or adoption;‌‌adoption. (b) Upon the relevant Decision, the Fund shall notify the Accredited Entity. The receipt of such notice shall require the Accredited Entity to (i) take any necessary or appropriate action; or (ii) inform the Fund that it is unable or unwilling to, through the compliance with the Accredited Entity’s own policies and procedures, comply fully or partially with the rules, policies and procedures of the Fund as revised or adopted (the “Revisions”) from a the date that is one hundred and eighty (180) days following such notice; and (c) In case of Clause 32.04(b)(ii32.05 (b)(ii), the Parties will consult with each other with the aim of resolving such matter within a reasonable period, period (which will be not be less than one hundred and twenty (120) days, ) before the Accredited Entity’s accreditation Accreditation may be deemed to have lapsed and Clause 22.01 shall apply.‌ For the avoidance of doubt, the relevant Revisions Revision(s) shall apply only to new Funding Proposals.