Common use of Modification of the Agreement Clause in Contracts

Modification of the Agreement. 24.1 SW is responsible for preparing this Agreement under Section 16 of the 2005 Act. 24.2 Subject to this Clause 24, no modification may be made by or on behalf of either Party otherwise than in accordance with the provisions of this Clause 24. 24.3 Either Party shall be entitled at any time to submit a Modification Notice to the other Party for information and to the Commission for approval or rejection by the Commission within thirty Business Days of its submission. If no objections have been received by either Party from the Commission within that period, the Modification Notice shall be deemed approved by the Commission. If a Change to the Market Code or the Operational Code is approved or determined that affects the content of this Agreement, the Parties agree that this Agreement shall be modified to give effect to that Change. The Parties will submit a Modification Notice as above as soon as practicable after the Change is approved or determined under the Market Code or Operational Code. If no objections are received by either Party from the Commission within 30 Business Days of receipt of the Modification Notice, it shall be deemed approved by the Commission. 24.4 The Commission may veto the Modification Notice if it considers that the Modification Notice is not consistent with the WSA Principles 24.5 Separately, if at any time and to the extent that the Commission on its own considers that a modification of this Agreement would be consistent with WSA Principles, then the Commission may provide the Parties with a Modification Notice which will take effect fourteen Business Days from the date of such notice. 24.6 Any modifications proposed by either of the Parties or the Commission shall be recorded in a written agreement, in a form to be specified by the Commission and signed by the Parties. 24.7 This Clause 24 shall not be subject to the provisions of any Modification Notice by the Parties. 24.8 The Commission shall have no obligation to compensate the Parties for the cost and expense of any modifications proposed under this Clause 24 and each Party will be responsible for their own costs and expenses for any such modification. 24.9 Nothing in this Agreement shall restrict the right of SW to propose and make revisions to the Wholesale Charges Scheme at any time and from time to time pursuant to the 0000 Xxx.

Modification of the Agreement. 24.1 SW is responsible for preparing this Agreement under Section 16 of the 2005 Act. 24.2 Subject to this Clause 24, no modification may be made by or on behalf of either Party otherwise than in accordance with the provisions of this Clause 24. 24.3 Either Party shall be entitled at any time to submit a Modification Notice to the other Party for information and to the Commission for approval or rejection by the Commission within thirty Business Days of its submission. If no objections have been received by either Party from the Commission within that period, the Modification Notice shall be deemed approved by the Commission. If a Change to the Market Code or the Operational Code is approved or determined that affects the content of this Agreement, the Parties agree that this Agreement shall be modified to give effect to that Change. The Parties will submit a Modification Notice as above as soon as practicable after the Change is approved or determined under the Market Code or Operational Code. If no objections are received by either Party from the Commission within 30 Business Days of receipt of the Modification Notice, it shall be deemed approved by the Commission. 24.4 The Commission may veto the Modification Notice if it considers that the Modification Notice is not consistent with the WSA Principles 24.5 Separately, if at any time and to the extent that the Commission on its own considers that a modification of this Agreement would be consistent with WSA Principles, then the ::odma\pcdocs\practice\5333461\7d Commission may provide the Parties with a Modification Notice which will take effect fourteen Business Days from the date of such notice. 24.6 Any modifications proposed by either of the Parties or the Commission shall be recorded in a written agreement, in a form to be specified by the Commission and signed by the Parties. 24.7 This Clause 24 shall not be subject to the provisions of any Modification Notice by the Parties. 24.8 The Commission shall have no obligation to compensate the Parties for the cost and expense of any modifications proposed under this Clause 24 and each Party will be responsible for their own costs and expenses for any such modification. 24.9 Nothing in this Agreement shall restrict the right of SW to propose and make revisions to the Wholesale Charges Scheme at any time and from time to time pursuant to the 0000 Xxx.

Modification of the Agreement. 24.1 SW is responsible for preparing this Agreement under Section 16 of the 2005 Act. 24.2 Subject to this Clause 24, no modification may be made by or on behalf of either Party otherwise than in accordance with the provisions of this Clause 24. 24.3 Either Party shall be entitled at any time to submit a Modification Notice to the other Party for information and to the Commission for approval or rejection by the Commission within thirty Business Days of its submission. If no objections have been received by either Party from the Commission within that period, the Modification Notice shall be deemed approved by the Commission. If a Change to the Market Code or the Operational Code is approved or determined that affects the content of this Agreement, the Parties agree that this Agreement shall be modified to give effect to that Change. The Parties will submit a Modification Notice as above as soon as practicable after the Change is approved or determined under the Market Code or Operational Code. If no objections are received by either Party from the Commission within 30 Business Days of receipt of the Modification Notice, it shall be deemed approved by the Commission. 24.4 The Commission may veto the Modification Notice if it considers that the Modification Notice is not consistent with the WSA Principles 24.5 Separately, if at any time and to the extent that the Commission on its own considers that a modification of this Agreement would be consistent with WSA Principles, then the Commission may provide the Parties with a Modification Notice which will take effect fourteen Business Days from the date of such notice. 24.6 Any modifications proposed by either of the Parties or the Commission shall be recorded in a written agreement, in a form to be specified by the Commission and signed by the Parties. 24.7 This Clause 24 shall not be subject to the provisions of any Modification Notice by the Parties. 24.8 The Commission shall have no obligation to compensate the Parties for the cost and expense of any modifications proposed under this Clause 24 and each Party will be responsible for their own costs and expenses for any such modification. 24.9 Nothing in this Agreement shall restrict the right of SW to propose and make revisions to the Wholesale Charges Scheme at any time and from time to time pursuant to the 0000 Xxx2002 Act.