Common use of Benchmarking Reports Clause in Contracts

Benchmarking Reports. 5.1 The IPE and LCH shall be given a period of 20 Business Days following receipt of the Benchmarking Report to review and comment on the findings. 5.2 The information in any and all Benchmarking Reports shall be treated in the same way as if it were confidential information disclosed by a Party under this Agreement. 5.3 Where the Benchmarking Report identifies that the Service Levels are lower than those recommended by the Benchmarking Adviser, or identifies in some other respect that the Services and/or Service Levels are inferior to those recommended by the Benchmarking Adviser, LCH shall consider the relevant recommendation and make such adjustments to the Services as it considers appropriate. LCH shall provide the IPE with an explanation should it consider the making of such adjustment(s) inappropriate. Either Party may treat any such response as a Dispute to be resolved in accordance with Clause 16 of this Agreement. Following the date of this Agreement, the Parties shall prepare an exit management plan to facilitate the provision of replacement Services to the IPE by (a) nominated Successor Operator(s) including, for the avoidance of doubt, transfer of open interests to such Successor Operator(s) (the “Exit Management Plan”). Each of the Parties, acting in good faith, shall use their respective reasonable endeavours to agree the Exit Management Plan no later than 9 months after the date of this Agreement. Once agreed, the Exit Management Plan shall be signed by both Parties.