Common use of Event Standards Clause in Contracts

Event Standards. Accordingly, beginning as soon as feasible after the execution of this Agreement, PROMOTER and NEM will work together to develop an agreed-upon strategy to continue to elevate the Events under this Agreement during the Term including, but not limited to: a) Establishing Series-wide and Event-specific criteria relative to: i) the spectator fan experience; ii) those portions of the events experienced by remote viewers; iii) the promotion of the events; iv) and the stature of the events; b) Establishing quantifiable processes for benchmarking and gauging the progress, success and compliance with the criteria; c) Reviewing and updating the criteria on a routine basis, and as needed; d) Determining appropriate methods for rectifying any shortfalls or deficiencies. Among other things, timely development of and PROMOTER conformance with the agreed-upon strategy will be a consideration regarding possible future sanctions after the Term.