Common use of Management and Supervision Clause in Contracts

Management and Supervision. The Oversight Committee will supervise the Credit Administrator activities related to management, assigning, tracking, reporting and accounting of credit deposits and credit assignments approved by the Oversight Committee as outlined in Parts 4.6.1 and 4.6.2. If the Credit Administrator designated in the Implementation Agreement is no longer able to perform his/her assigned duties a new entity, from within the Implementation Agreement signatory parties, will be selected by the Oversight Committee to assume the Credit Administrator duties. Selection of a new Credit Administrator will require mutual consent of all signatories to the Implementation Agreement. The Oversight Committee will review and approve reports prepared by the Credit Administrator. The Oversight Committee is responsible for the evaluation of the Implementation Agreement activities, and for the consideration and discussion of any proposed changes to the Agreement. The Oversight Committee will develop recommendations regarding any substantive proposed changes to the Implementation Agreement for consideration by the signatories to the Implementation Agreement. Proposed changes to this Agreement, such as inclusion of undefined maintenance actions or technology improvements that may impact aquatic habitat, or changes to the function of the Oversight Committee will be submitted in letter format to the Oversight Committee for review to determine if the change deviates from the regulatory intent established through this Agreement. If the change in question is determined to constitute a deviation from the form and substance of this Agreement, a meeting of all signatory parties will be held to discuss required actions to address the proposed change. The Oversight Committee shall coordinate with the Credit Administrator to notify signatory parties of any meeting or function to be convened for the purpose of revising or amending provisions of this Agreement. Notification shall be by mail or e-mail and an acknowledgement of receipt of notification from all signatory parties to this Agreement must be received by the Credit Administrator. Any proposed change that does not affect the intent of this Agreement will be included as an Addendum to the Agreement and provided to all signatory parties to this Agreement. The Oversight Committee will convene reviews of the Implementation Agreement at 5- year intervals to review and evaluate the status of the Agreement. The Oversight Committee will conduct, as a part of the review, a survey of the signatories to the Implementation Agreement, along with other affected and interested parties, as identified by the Oversight Committee, for the purpose of evaluating the effectiveness of the Implementation Agreement, verify that the process if functioning as planned and that restoration projects are occurring and progress is being made in working towards the restoration goal.