Common use of Ongoing Review and Revisions Clause in Contracts

Ongoing Review and Revisions. The Parties have agreed to the coordination and exchange of data and information under this Agreement to enhance system reliability and efficient market operations as systems exist and are contemplated as of the Effective Date. The Parties expect that these systems and technology applicable to these systems and to the collection and exchange of data will change from time to time throughout the term of this Agreement, including changes to the boundaries of a Party in its capacity as an RTO, changes to the boundaries of, or identities of, Control Areas for which a Party serves as Reliability Coordinator, changes in response to findings and recommendations of the United States Department of Energy or NERC concerning the outage of August 14, 2003, and changes upon the commencement of Phase 2, Market to Market implementation. The Parties agree that the objectives of this Agreement can be fulfilled efficiently and economically only if the Parties, from time to time, review and as appropriate revise the requirements stated herein in response to such changes, including deleting, adding, or revising requirements and protocols. Each Party will negotiate in good faith in response to such revisions the other Party may propose from time to time.