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 a Party in its capacity as an RTO or BA, changes to the boundaries of, or identities of, BAs for which a Party serves as RC, changes or additions to transmission facilities for which the Party is a TOP, and changes to the BAs 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 PartiesParty may propose from time to time. Nothing in this Agreement, however, shall require aeither 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 a Party in its capacity as an RTO or BA, changes to the boundaries of, or identities of, BAs for which a Party serves as RC, changes or additions to transmission facilities for which the Party is a TOP, and changes to the BAs 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 PartiesParty Parties may propose from time to time. Nothing in this Agreement, however, shall require aeither a 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.