Common use of Notice, Negotiation, and Early Termination Clause in Contracts

Notice, Negotiation, and Early Termination. Upon the occurrence of a Regulatory Event, the adversely affected Party shall give written notice to the other Party that such event has occurred and, in the case of iii (C) above, shall in addition to providing notice, provide reasonable documentation and quantification of the cost impact of the Adverse Government Action. In the case of iii (C) above, a verified change in price, up to the amount of price increase in the LDC’s BGS tariff attributable to the same Adverse Government Action, shall be permitted. If the Parties are unable, within thirty (30) days of entering into negotiations, to agree upon modification(s) to this Agreement, the adversely affected Party shall have the right, upon sixty (60) days’ prior written notice, to terminate this Agreement, pursuant to Section 3.3., and close out its obligations hereunder. In such an event, Supplier shall be entitled to payment from each EAP Participant for service provided prior to the effective date of termination but for which each EAP Participant has not already made payment, at the Contract Price.

Notice, Negotiation, and Early Termination. Upon the occurrence of a Regulatory Event, the adversely affected Party shall give written notice to the other Party that such event has occurred and, in the case of iii (C) above, shall in addition to providing notice, provide reasonable documentation and quantification of the cost impact of the Adverse Government Action. In the case of iii (C) above, a verified change in price, up to the amount of price increase in the LDC’s BGS tariff attributable to the same Adverse Government Action, shall be permitted. If the Parties are unable, within thirty (30) days of entering into negotiations, to agree upon modification(s) to this Agreement, the adversely affected Party shall have the right, upon sixty (60) days’ prior written notice, to terminate this Agreement, pursuant to Section 3.3., and close out its obligations hereunder. In such an event, Supplier shall be entitled to payment from each EAP Program Participant for service provided prior to the effective date of termination but for which each EAP Program Participant has not already made payment, at the Contract Price.