Innovation Proposals Clause Samples
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Innovation Proposals. In addition to, and without limiting, the terms of Section 2.5.4(a), the Parties will work together to identify potential opportunities for continuous improvement to increase the quality or efficiency of the Services and/or to reduce costs. At least once each Contract Year, ACS (on its own initiative or in response to a Symetra-identified opportunity) shall provide an “Innovation Proposal” to Symetra, each of which must: (i) be actionable; and (ii) define and describe: (A) the current situation (e.g., identifying affected portions of the Agreement, including SLRs and related charges) and any assumptions made; (B) the recommended changes; (C) the projected savings or service improvements; and (D) each Party’s responsibilities if the savings or improvements are to be achieved. Within twenty (20) days following its receipt thereof, Symetra shall notify ACS whether the proposal submitted by ACS pursuant to this Section meets the definition of an Innovation Proposal or what additional criteria must be satisfied and/or what additional information must be provided to cause the ACS proposal to meet the definition of an Innovation Proposal. If, as provided in the preceding sentence, Symetra notifies ACS that a proposal does not meet the definition of an Innovation Proposal and the reasons therefor, ACS promptly shall prepare and submit to Symetra an updated proposal. The review and notification process described herein shall repeat with respect to a particular ACS proposal until the earlier to occur of ACS’ submission of a proposal that meets the definition of an Innovation Proposal or the then-current Contract Year expires; provided, however, that ACS shall have a fifteen (15) calendar day grace period beyond the end of the then-current Contract Year to submit an updated proposal that meets the definition of an Innovation Proposal if ACS had submitted a proposal to Symetra prior to the end of the then-current Contract Year and Symetra had notified ACS that the proposal did not meet the definition of an Innovation Proposal and the reasons there-
Innovation Proposals. (a) The Operator may make an Innovation Proposal to the Province.
(b) The Province may ask the Operator to develop an Innovation Proposal. The Operator is under no obligation to develop an Innovation Proposal requested by the Province, but will give such request fair consideration.
(c) Any Innovation Proposal must:
(i) be set out in sufficient detail to enable the Province to evaluate the Innovation Proposal in full;
(ii) specify the Operator’s reasons and justification for proposing the Innovation Proposal;
(iii) request the Province to consult with the Operator with a view to deciding whether to agree to the Innovation Proposal and, if the Province wishes to proceed with an Innovation Proposal, what Variations and consequential changes the Operator requires as a result;
(iv) indicate any implications of the Innovation Proposal, including any difference between the existing and the proposed requirements of this Agreement, and the comparative advantages of each to the Operator, the Province and other Governmental Authorities;
(v) indicate, in particular, whether any cost savings or a variation to the Periodic Payments, Scheduled Completion Date, Implementation Schedule, Term, or some other compensation for the Operator is proposed and, if so, give a detailed cost and value estimate of such proposed Variation and the proposed impact on Periodic Payments, Scheduled Completion Date, Implementation Schedule, Term and any applicable compensation or cost savings;
(vi) indicate if there are any dates by which a decision by the Province must be made; and
(vii) include such other information and documentation as may be reasonably requested by the Province to permit the Province to fully evaluate and consider the Innovation Proposal.
(d) The Province will evaluate each Innovation Proposal in good faith, taking into account all relevant issues, including whether:
(i) a change in the Periodic Payments, Scheduled Completion Date, Implementation Schedule, or Term will occur, and whether other compensation will be payable to or recoverable by the Operator or cost savings will be realized;
(ii) the Innovation Proposal affects the quality of the Project or the Operations, or the likelihood of successful completion of the Project or delivery of the Operations;
(iii) the Innovation Proposal will interfere with the relationship of the Province and other Governmental Authorities with each other or third parties or any of them;
(iv) the financial strength of the Operator is suf...
Innovation Proposals implemented in accordance with this clause 14 shall reduce the total of the Prices under the Works Terms and/or the Maintenance Prices under the Maintenance Terms and/or the Prices under any CRL Subcontract and/or Additional CRL Subcontract entered into prior to the date of the relevant Innovation Implementation Notice by:
14.6.1 the Innovation Saving(s);
14.6.2 less the Innovation Share.
Innovation Proposals