Process for Revising the CFR Matrix Sample Clauses
The 'Process for Revising the CFR Matrix' clause establishes the procedures and requirements for making changes to the CFR (Contractual Framework Requirements) Matrix during the course of an agreement. Typically, this clause outlines who has the authority to propose revisions, the steps for submitting and reviewing proposed changes, and any necessary approvals or documentation. For example, it may require that all suggested modifications be submitted in writing and approved by both parties before taking effect. The core function of this clause is to ensure that any updates to the CFR Matrix are managed in an orderly, transparent manner, thereby reducing misunderstandings and maintaining alignment between the parties.
Process for Revising the CFR Matrix. 4.3.1 Upon approval by the FERC of any new Reliability Standard(s) or change(s) to existing Reliability Standards, the Parties shall promptly confer regarding their respective compliance responsibilities for the new or revised Standard(s) and agree upon a revision to the CFR Matrix to address the new or revised Standard(s). The Parties shall complete the revision to the CFR Matrix before the effective date of the new or revised Standard(s). The revised CFR Matrix shall replace and supersede the previous version on a going-forward basis. Such revision to the CFR Matrix does not constitute an amendment to this Agreement.
4.3.2 Upon ten (10) business days’ written notice, either Party may initiate a review of the CFR Matrix for purposes of redefining the Parties’ respective responsibilities for a given Requirement or sub-Requirement.
4.3.3 The Parties shall keep a mutually agreed upon revision history document that tracks each revision to the CFR Matrix, identifying the date of each revision and the change(s) made. The Parties shall also retain copies of each of the superseded versions of the CFR Matrix for reference.