Systems or Services Modifications Clause Samples

Systems or Services Modifications a. Correspondent may request systems or services modifications by: (1) Submitting a written requirements documentation to Schwab which will include the following elements: background, priority (High, Medium, Low), detailed enhancement description, expected results/deliverable, scope (in and out), timing required, interface additions/changes (if applicable), screen additions/changes (if applicable), other processing/calculation additions/changes (if applicable), and any issues. Schwab will respond to Correspondent with a written description of programs affected and anticipated people hours, a cost estimate, and a proposed delivery date. Correspondent will advise Schwab in writing whether it agrees to the costs and delivery date for the systems or services modification; or (2) Agreeing in writing to the costs and delivery date for a systems modification for which Schwab has submitted to Correspondent a written requirements documentation which will include the following elements: background, detailed enhancement description, expected results/deliverable, scope (in and out), interface additions/changes (if applicable), screen additions/changes (if applicable), other processing/calculation additions/changes (if applicable), programs affected, anticipated people hours, a cost estimate, and a proposed delivery date. b. If Schwab makes system or services modifications which Correspondent has not requested by one of the above methods, Correspondent shall have no obligation to make any payment for the costs of such modifications, but shall be required to cooperate with Schwab in the implementation of the modifications in the manner set forth in this Section 13 in the same manner as for Correspondent requested modifications under Section 13.a. of this Exhibit. c. Correspondent and Schwab agree to cooperate in a commercially reasonable manner with one another, including making themselves available for joint systems testing, in any development, implementation, enhancement, conversion or other modification of Schwab’ s processing or comparable systems which are consistent with requests made by Correspondent for system or services enhancements or which are consistent with system changes that will enhance operating efficiencies or capabilities as agreed by Correspondent. APEX Clearing Corporation. Full Service-Omnibus Execution Copy