Common use of Operational Milestones Clause in Contracts

Operational Milestones. TradeBlock will use commercially reasonable efforts to achieve the following operational milestones by the specified deadlines; provided, however, that failure to achieve any of these milestones by the specified deadline shall not be a breach of this Order (or the Agreement), but will be pertinent to both (i) the associated fee discounts specified on the table below (and in Section 6 below) and (ii) Licensee’s right to terminate this Order (and the Agreement) early as set forth below. Begin compliance process for SOC 2 Type 2 report June 30, 2021 [** ] Establish index governance committee July 31, 2021 [** ] Obtain SOC 1 Type 2 and SOC 2 Type 2 reports For the period ended 12/31/21 (Delivery Q1 2023) [** ] Notwithstanding anything to the contrary in this Order (or the Agreement), if all of the operational milestones specified on the table above are not achieved by TradeBlock by the second anniversary of the Start Date of this Order, then Licensee may terminate this Order (and the Agreement) immediately upon written notice to TradeBlock.

Operational Milestones. TradeBlock will use commercially reasonable efforts to achieve the following operational milestones by the specified deadlines; provided, however, that failure to achieve any of these milestones by the specified deadline shall not be a breach of this Order (or the Agreement), but will be pertinent to both (i) the associated fee discounts specified on the table below (and in Section 6 below) and (ii) Licensee’s right to terminate this Order (and the Agreement) early as set forth below. Begin compliance process for SOC 2 Type 2 report June 30, 2021 [** *] Establish index governance committee July 31, 2021 [** *] Obtain SOC 1 Type 2 and SOC 2 Type 2 reports For the period ended 12/31/21 (Delivery Q1 2023) [** *] Notwithstanding anything to the contrary in this Order (or the Agreement), if all of the operational milestones specified on the table above are not achieved by TradeBlock by the second anniversary of the Start Date of this Order, then Licensee may terminate this Order (and the Agreement) immediately upon written notice to TradeBlock.