Functions of Operating Committee Sample Clauses

Functions of Operating Committee. To administer the arrangements under this Agreement, the Parties shall appoint representatives to the Operating Committee (“OC”). 3.2.1 The OC shall have the following duties and responsibilities with respect to this Agreement: 3.2.1.1 Determine the date(s) for implementing the various parts of this Agreement in accordance with Section 18.1; 3.2.1.2 Meet or hold a web or teleconference as required, but no less than semi- annually, to address any issues associated with this Agreement that a Party may raise and to determine whether any changes to this Agreement, or procedures employed under this Agreement, would enhance reliability, efficiency, or economy; 3.2.1.3 Conduct additional meetings upon Notice given by any Party, provided that the Notice specifies the reason(s) for the requested meeting; 3.2.1.4 Conduct dispute resolution in accordance with Article Sixteen of this Agreement; 3.2.1.5 Initiate process reviews at the request of any Party for activities undertaken in the performance of this Agreement; 3.2.1.6 In its discretion, monitor, evaluate, and collaboratively seek to improve a congestion management process; and 3.2.1.7 In its discretion, take other actions, including the establishment of subcommittees and/or task forces, to address any issues that the OC deems necessary in the implementation of this Agreement.

Functions of Operating Committee. To administer the arrangements under this Agreement, the Parties shall appoint representatives to the Operating Committee (“OC”). Effective Date: 9/17/2010 - Docket #: ER10-2746-000 3.2.1 The OC shall have the following duties and responsibilities with respect to this Agreement: 3.2.1.1 Determine the date(s) for implementing the various parts of this Agreement in accordance with Section 18.1; 3.2.1.2 Meet or hold a web or teleconference as required, but no less than semi- annually, to address any issues associated with this Agreement that a Party may raise and to determine whether any changes to this Agreement, or procedures employed under this Agreement, would enhance reliability, efficiency, or economy; 3.2.1.3 Conduct additional meetings upon Notice given by any Party, provided that the Notice specifies the reason(s) for the requested meeting; 3.2.1.4 Conduct dispute resolution in accordance with Article Sixteen of this Agreement; 3.2.1.5 Initiate process reviews at the request of any Party for activities undertaken in the performance of this Agreement; 3.2.1.6 In its discretion, monitor, evaluate, and collaboratively seek to improve a congestion management process; and 3.2.1.7 In its discretion, take other actions, including the establishment of subcommittees and/or task forces, to address any issues that the OC deems necessary in the implementation of this Agreement.

Functions of Operating Committee. The Operating Committee may carry out the following in relation to the conduct of Operations: (a) consulting regularly in respect of events or developments that have led, or may lead, to a Default by any of the parties with a view to resolving or avoiding the same; (b) meeting and discussing as soon as possible and for up to 30 days following a Default notice being issued by any of the parties with a view to resolving the same; (c) if the gold London Bullion Market price moves beyond US$2,000 per ounce, meeting and discussing the implementation of a hedging arrangement; (d) establishing policies from time to time covering the Operations; and (e) approving cost overruns by the Operator over and above 10 per cent of any Approved Programme and Budget.