Common use of Mandatory Change Clause in Contracts

Mandatory Change. 10.2.1 Where a Change Control Request is in respect of a Mandatory Change, the Parties shall, as soon as reasonably practicable thereafter, meet to discuss and agree the terms on which, and the time frame in which, each Party shall implement that Mandatory Change (which shall be within the time frame required to comply with the relevant Regulation, except where it would not be reasonable for each Party to implement such Mandatory Change within such time frame, in which case each Party shall implement such Mandatory Change as soon as reasonably practicable thereafter). The Parties shall work together in good faith to mitigate the consequences of any delay in implementing the Mandatory Change beyond the date required to comply with the Regulation. 10.2.2 To the extent that a Mandatory Change requested by a Party increases the cost to the Provider (including, for the avoidance of doubt, the costs and appropriate margin of implementing the Mandatory Change and incremental running costs and appropriate margin incurred by the Provider arising as a result of that Mandatory Change), then the increased cost and margin to the Provider will be added to the Charges paid by the Recipient for the relevant Service.

Appears in 5 contracts

Samples: Master Services Agreement (Citizens Financial Group Inc/Ri), Transitional Services Agreement (Citizens Financial Group Inc/Ri), Transitional Services Agreement (Citizens Financial Group Inc/Ri)

AutoNDA by SimpleDocs

Mandatory Change. 10.2.1 Where a Change Control Request is in respect of a Mandatory Change, the Parties shall, as soon as reasonably practicable thereafter, meet to discuss and agree the terms on which, and the time frame in which, each Party shall implement that Mandatory Change (which shall be within the time frame required to comply with the relevant Regulation, except where it would not be reasonable for each Party to implement such Mandatory Change within such time frame, in which case each Party shall implement such Mandatory Change as soon as reasonably practicable thereafter). The Parties shall work together in good faith to mitigate the consequences of any delay in implementing the Mandatory Change beyond the date required to comply with the Regulation. 10.2.2 To the extent that a Mandatory Change requested by a Party increases the cost to the Provider other Party of providing or receiving the Services (including, for the avoidance of doubt, the costs and appropriate margin of implementing the Mandatory Change and incremental running costs and appropriate margin incurred by the Provider other Party arising as a result of that Mandatory Change), then the increased cost and margin to the Provider other Party will be added to the Charges paid by the Recipient Party for the relevant Service.

Appears in 2 contracts

Samples: Transitional Services Agreement (Citizens Financial Group Inc/Ri), Transitional Services Agreement (Citizens Financial Group Inc/Ri)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!