General Managed Third Parties Clause Samples

General Managed Third Parties. With respect to Managed Third Parties identified on Schedule D.2 as “General Managed Third Parties,” and any substitute or replacement therefor (each a “General Managed Third Party”), Supplier shall perform the following activities with respect to the management and administration of Third Party Contracts between Hercules (and/or the Eligible Recipients) and such General Managed Third Parties, except as modified in Schedule D.2: (i) manage the Managed Third Parties, including monitoring operational day-to-day service delivery, monitoring performance, escalating problems for resolution, and maintaining technical support relationships; (ii) as requested by Hercules, work with Hercules to manage new and existing contractual relationships between Hercules and Managed Third Parties as needed to provide the Services; (iii) oversee Managed Third Party delivery of services and compliance with the Service Levels and the performance standards contained in Hercules’ agreement with the Managed Third Party; (iv) notify Hercules and the Managed Third Party of each Managed Third Party failure to perform in accordance with the Service Levels contained in Schedule G or the performance standards or other terms and conditions contained in Hercules’ agreement with the Managed Third Party; (v) escalate Managed Third Party performance failures to Managed Third Party management as necessary to achieve timely resolution; (vi) monitor and manage the Managed Third Party’s efforts to remedy a failure of performance; (vii) communicate to Hercules the status of the Managed Third Party’s efforts to remedy a failure of performance; (viii) recommend retention, replacement, modification, or termination of the Managed Third Party based on the performance or cost benefits to Hercules as tracked by Supplier; and (ix) participate and assist in the re-sourcing (e.g., extension, renegotiation or replacement) of such Managed Third Parties as and to the extent described in Schedule D.2.