Common use of Ongoing Review and Revisions Clause in Contracts

Ongoing Review and Revisions. The Parties have agreed to the terms and conditions of this Agreement as their respective systems exist and are contemplated as of the Effective Date. The Parties expect that these systems and technology applicable to those systems and to the collection and exchange of data will change from time to time throughout the term of this Agreement, including changes to the boundaries of PJM in its capacity as an RTO, changes to the boundaries of, or identities of, Balancing Authorities for which a Party serves as Reliability Coordinator, and changes to the Balancing Authorities included in the security constrained, bid-based economic dispatch markets administered by PJM. The Parties agree that the objectives of this Agreement can be fulfilled only if the Parties, from time to time, review and, as appropriate, revise the requirements stated herein in response to changes, including deleting, adding, or revising requirements and protocols. Each Party shall negotiate in good faith in response to such revisions the other Parties may propose from time to time. Nothing in this Agreement, however, shall require any Party to reach agreement with respect to any such changes, or to purchase, install, or otherwise implement new equipment, software, or devices, or functions except as required to perform this Agreement.

Ongoing Review and Revisions. The Parties have agreed to the terms and conditions of this Agreement as their respective systems exist and are contemplated as of the Effective Date. The Parties expect that these systems and technology applicable to those systems and to the collection and exchange of data will change from time to time throughout the term of this Agreement, including changes to the boundaries of PJM a Party in its capacity as an RTO, changes to the boundaries of, or identities of, Balancing Authorities Control Areas for which a Party serves as Reliability Coordinator, and changes to the Balancing Authorities Control Areas included in the security constrained, bid-based economic dispatch markets administered by PJMPJM and MIDWEST ISO. The Parties agree that the objectives of this Agreement can be fulfilled only if the Parties, from time to time, review and, as appropriate, revise the requirements stated herein in response to changes, including deleting, adding, or revising requirements and protocols. Each Party shall negotiate in good faith in response to such revisions the other Parties may propose from time to time. Nothing in this Agreement, however, shall require any Party to reach agreement with respect to any such changes, or to purchase, install, or otherwise implement new equipment, software, or devices, or functions except as required to perform this Agreement.