Common use of Modifications to Quality Specifications Clause in Contracts

Modifications to Quality Specifications. BUYER may from time to time amend its Quality Specifications to meet changes in BUYER’s operational requirements or industry standards or procedures. Absent Laws and Regulations to the contrary, BUYER’s amendment of Quality Specifications shall be effective no earlier than thirty (30) calendar days from the date of notice to SELLER of such change(s). If, however, due to changes or additions to Laws and Regulations, BUYER's Quality Specifications must be altered or BUYER’s use of Product as fuel for its electric generating facilities is restricted or prohibited, BUYER shall have the right to terminate this Contract or to reduce the quantity of Product delivered under this Contract to a lesser amount, upon Notice to SELLER. In the event BUYER amends the Quality Specifications in accordance with this paragraph which must be implemented during a Transaction Period in which the SELLER is obligated to sell and deliver Product to BUYER, and the SELLER can reasonably demonstrate an increase in cost to meet such amended Quality Specifications, then the Parties shall negotiate an adjustment to the Transaction Price to cover the SELLER’s additional cost to meet the amended Quality Specifications.