Common use of Reviews by the parties Clause in Contracts

Reviews by the parties. 5.1.1 The parties shall: (a) at intervals of not more than three months during the period specified in Clause 5.1.2, formally review with each other, and in consultation with the Secretary of State, the operation of this Agreement; and (b) at the conclusion of any such review, negotiate in good faith and on a reasonable basis with a view to reaching agreement (subject to Condition B9) on any amendments to this Agreement which either party may, in the light of experience gained as to the operation of this Agreement, reasonably consider necessary or desirable. 5.1.2 The period referred to in Clause 5.1.1(a) shall be the period of 12 months from the Commencement Date, provided that, if either party commences to provide passenger railway services pursuant to a franchise agreement during such period (or if both of them do so), such period will be extended until the date 12 months after the date of commencement of such passenger railway services. 5.1.3 Either party may, by not less than 150 days' notice to the other and the Office of Rail and Road, effective not later than 60 days prior to the date on which the Secretary of State issues an invitation to tender pursuant to section 26 of the Act in respect of the railway passenger services (or part of them) operated by either party, terminate this Agreement if it fails to reach agreement with the other party on any amendments it wishes to make to this Agreement.

Reviews by the parties. 5.1.1 6.1.1 The parties shall: (a) at intervals of not more than three months during the period specified in Clause 5.1.26.1.2, formally review with each other, and in consultation with the Secretary of State, the operation of this Agreement; and (b) at the conclusion of any such review, negotiate in good faith and on a reasonable basis with a view to reaching agreement (subject to Condition B9) on any amendments to this Agreement which either party may, in the light of experience gained as to the operation of this Agreement, reasonably consider necessary or desirable. 5.1.2 6.1.2 The period referred to in Clause 5.1.1(a6.1.1(a) shall be the period of 12 months from the Commencement Date, provided that, if either party commences to provide passenger railway services pursuant to a franchise agreement during such period (or if both of them do so), such period will be extended until the date 12 months after the date of commencement of such passenger railway services. 5.1.3 6.1.3 Either party may, by not less than 150 days' notice to the other and the Office of Rail and RoadRegulation, effective not later than 60 days prior to the date on which the Secretary of State issues an invitation to tender pursuant to section 26 of the Act in respect of the railway passenger services (or part of them) operated by either party, terminate this Agreement if it fails to reach agreement with the other party on any amendments it wishes to make to this Agreement.