Common use of Product Forum Processes Clause in Contracts

Product Forum Processes. (a) The Product Forum Processes will be developed by the LFC in conjunction with CFH and in consultation with the Service Provider and all other service providers. The Product Forum Processes will promote the purpose of the Product Forum. (b) The Product Forum Processes will be consistent with the following principles: (i) the LFC and all service providers participating in the Product Forum (the service provider members) will be required to act at all times in good faith in their dealings with each other in the Product Forum; (ii) if the LFC has an issue that is to be considered by the Product Forum, it will communicate with the service provider members, providing them with appropriate details of the LFC’s position at that time and information which will facilitate open communication and collaboration on the issue; (iii) if the issue is not material the period for consultation may be relatively short and the manner of consultation more abbreviated. If the issue is material, then the period for consultation will be longer and the manner of consultation more fulsome, enabling reasonable time for service provider members to evaluate and respond to the LFC’s position on the issue. In determining the materiality of the issue and consequently the period and manner of consultation, the LFC will act reasonably and give due consideration to the likely impact of the issue on service providers generally; (iv) where appropriate, meetings will be held to allow a reasonable level of discussion of the views of the service provider members and the LFC’s position in response. The LFC and service provider members will ensure that appropriately qualified and empowered representatives attend these meetings; (v) although the Product Forum Processes will set out timeframes for the consultations, it is envisaged that the LFC and service provider members will meet and communicate as often as is reasonable within these timeframes to achieve the purpose of the Product Forum; and (vi) the Product Forum Processes will therefore also need to envisage evolution or change in the LFC’s position following or during any consultation. In this case, it may be necessary for the LFC to consult again on the issue if the evolution or change is relatively material; (vii) where clauses 7.1, 24.3(e), 24.4(a) or24.5(d) require that the LFC may only implement an Agreement Change or Price Cap Proposal or increase in Core Charges with the approval of the Product Forum: (A) each service provider member who is then receiving services from the LFC will have one equal vote; (B) the Agreement Change or Price Cap Proposal will only be approved by the Product Forum if not less than 75% of the service provider members approve the Agreement Change or Price Cap Proposal; and (C) the vote will otherwise be governed by the Product Forum Processes (to the extent applicable). (c) During the Product Forum consultations, service provider members should aim to achieve consensus on issues where possible. (d) During any Product Forum consultation (other than voting on an Agreement Change or Price Cap Proposal or a change to Core Charges, in each case under clause 25.2(b)(vii)), if the service provider members are unable to reach consensus, then: (i) a formal vote may be conducted to determine the majority view of the service provider members; (ii) each service provider member who is then receiving services from the LFC will have one equal vote; (iii) the purpose of the vote will be to give the LFC a clear record of service provider members’ views and is not determinative of whether a particular issue is progressed further by the LFC in the change process; and (iv) for the avoidance of doubt, where a service provider member has more than one representative at the Product Forum, the member will only be entitled to one vote.

Product Forum Processes. (a) The Product Forum Processes will be developed by the LFC in conjunction with CFH and in consultation with the Service Provider and all other service providers. The Product Forum Processes will promote the purpose of the Product Forum. (b) The Product Forum Processes will be consistent with the following principles: (i) the LFC and all service providers participating in the Product Forum (the service provider members) will be required to act at all times in good faith in their dealings with each other in the Product Forum; (ii) if the LFC has an issue that is to be considered by the Product Forum, it will communicate with the service provider members, providing them with appropriate details of the LFC’s position at that time and information which will facilitate open communication and collaboration on the issue; (iii) if the issue is not material the period for consultation may be relatively short and the manner of consultation more abbreviated. If the issue is material, then the period for consultation will be longer and the manner of consultation more fulsome, enabling reasonable time for service provider members to evaluate and respond to the LFC’s position on the issue. In determining the materiality of the issue and consequently the period and manner of consultation, the LFC will act reasonably and give due consideration to the likely impact of the issue on service providers generally; (iv) where appropriate, meetings will be held to allow a reasonable level of discussion of the views of the service provider members and the LFC’s position in response. The LFC and service provider members will ensure that appropriately qualified and empowered representatives attend these meetings; (v) although the Product Forum Processes will set out timeframes for the consultations, it is envisaged that the LFC and service provider members will meet and communicate as often as is reasonable within these timeframes to achieve the purpose of the Product Forum; and (vi) the Product Forum Processes will therefore also need to envisage evolution or change in the LFC’s position following or during any consultation. In this case, it may be necessary for the LFC to consult again on the issue if the evolution or change is relatively material; (vii) where clauses 7.1, 24.3(e), 24.4(a) or24.5(d) require that the LFC may only implement an Agreement Change or Price Cap Proposal or increase in Core Charges with the approval of the Product Forum: (A) each service provider member who is then receiving services from the LFC will have one equal vote; (B) the Agreement Change or Price Cap Proposal will only be approved by the Product Forum if not less than 75% of the service provider members approve the Agreement Change or Price Cap Proposal; and (C) the vote will otherwise be governed by the Product Forum Processes (to the extent applicable). (c) During the Product Forum consultations, service provider members should aim to achieve consensus on issues where possible. (d) During any Product Forum consultation (other than voting on an Agreement Change or Price Cap Proposal or a change to Core Charges, in each case under clause 25.2(b)(vii)), if . If the service provider members are unable to reach consensus, then: (i) then a formal vote may be conducted required to determine the majority view of the service provider members; (ii) each . In such circumstances, there will be one equal vote per service provider member who is then receiving services from the LFC will have one equal vote; (iii) the member. The purpose of the vote will be to give the LFC a clear record of service provider members’ views and is not determinative of whether a particular issue is progressed further by the LFC in the change process; and (iv) for . For the avoidance of doubt, where a service provider member has more than one representative at the Product Forum, the member will only be entitled to one vote.

Product Forum Processes. (a) The Product Forum Processes will be developed by the LFC in conjunction with CFH and in consultation with the Service Provider and all other service providers. The Product Forum Processes will promote the purpose of the Product Forum. (b) The Product Forum Processes will be consistent with the following principles: (i) the LFC and all service providers participating in the Product Forum (the service provider members) will be required to act at all times in good faith in their dealings with each other in the Product Forum; (ii) if the LFC has an issue that is to be considered by the Product Forum, it will communicate with the service provider members, providing them with appropriate details of the LFC’s position at that time and information which will facilitate open communication and collaboration on the issue; (iii) if the issue is not material the period for consultation may be relatively short and the manner of consultation more abbreviated. If the issue is material, then the period for consultation will be longer and the manner of consultation more fulsome, enabling reasonable time for service provider members to evaluate and respond to the LFC’s position on the issue. In determining the materiality of the issue and consequently the period and manner of consultation, the LFC will act reasonably and give due consideration to the likely impact of the issue on service providers generally; (iv) where appropriate, meetings will be held to allow a reasonable level of discussion of the views of the service provider members and the LFC’s position in response. The LFC and service provider members will ensure that appropriately qualified and empowered representatives attend these meetings; (v) although the Product Forum Processes will set out timeframes for the consultations, it is envisaged that the LFC and service provider members will meet and communicate as often as is reasonable within these timeframes to achieve the purpose of the Product Forum; and (vi) the Product Forum Processes will therefore also need to envisage evolution or change in the LFC’s position following or during any consultation. In this case, it may be necessary for the LFC to consult again on the issue if the evolution or change is relatively material; (vii) where clauses 7.1, 24.3(e), 24.4(a) or24.5(d) require that the LFC may only implement an Agreement Change or Price Cap Proposal or increase in Core Charges with the approval of the Product Forum: (A) each service provider member who is then receiving services from the LFC will have one equal vote; (B) the Agreement Change or Price Cap Proposal will only be approved by the Product Forum if not less than 75% of the service provider members approve the Agreement Change or Price Cap Proposal; and (C) the vote will otherwise be governed by the Product Forum Processes (to the extent applicable). (c) During the Product Forum consultations, service provider members should aim to achieve consensus on issues where possible. (d) During any Product Forum consultation (other than voting on an Agreement Change or Price Cap Proposal or a change to Core Charges, in each case under clause 25.2(b)(vii)), if the service provider members are unable to reach consensus, then: (i) a formal vote may be conducted required to determine the majority view of the service provider members; (ii) each there will be one equal vote per service provider member who is then receiving services from the LFC will have one equal votemember; (iii) the purpose of the vote will be to give the LFC a clear record of service provider members’ views and is not determinative of whether a particular issue is progressed further by the LFC in the change process; and (iv) for the avoidance of doubt, where a service provider member has more than one representative at the Product Forum, the member will only be entitled to one vote.