Recalibration Clause Samples
The Recalibration clause establishes a mechanism for adjusting certain terms or parameters of an agreement in response to predefined triggers or changes in circumstances. Typically, this clause applies to financial metrics, performance benchmarks, or market indices, allowing the parties to revisit and modify these elements if external factors—such as regulatory changes or significant market shifts—impact the original assumptions. Its core practical function is to maintain fairness and balance in the contractual relationship by ensuring that the agreement remains relevant and equitable despite evolving conditions.
Recalibration. If the LNG tanks of any LNG Tanker suffer distortion of such nature as to create a reasonable doubt regarding the validity of the tank gauge tables described herein (or any subsequent calibration provided for herein), the Transporter or the Transporter’s agent shall recalibrate the damaged tanks, and the vessel shall not be employed as an LNG Tanker hereunder until appropriate corrections are made. If mutually agreed between the Transporter and Project Co representatives, recalibration of damaged tanks can be deferred until the next time when such damaged tanks are warmed for any reason, and any corrections to the prior tank gauge tables will be made from the time the distortion occurred. If the time of the distortion cannot be ascertained, the Parties shall mutually agree on the time period for retrospective adjustments.
Recalibration. If there is an event that permits Recalibration as defined in the Value Index Score Medical Home Bonus Document, the Agency may, upon request by the ACO, perform an analysis of whether Recalibration should occur. The Agency may also initiate a Recalibration and will notify the ACO prior to such action. Recalibration will be performed at the Agency’s discretion.
Recalibration. An activity done by the IME to establish the VIS baseline and/or the VIS performance results, as needed, in an effort to ensure accuracy.
Recalibration. Moneyline may increase the Moneyline Transitional Services. Reuters may decrease the Moneyline Transitional Services in accordance with Section 4(C)(i). Pursuant to any such changes, Moneyline shall recalibrate the Reuters EU/AP Allocation and costs of the Moneyline Transitional Services based on internal measurements on the Recalibration Date. Any resulting changes in the payment obligations set forth herein shall become effective with the first invoice issued following the most recent Recalibration Date.
(i) It is understood and agreed that the number of FTEs providing the Services set forth in the Moneyline Help Desk/CRMC Schedule can be reduced by partial transition as agreed by the parties upon thirty (30) days notice by Reuters. Any resulting decrease in the amounts owed by Reuters shall be reflected as a credit to Reuters on the first invoice following the next Recalibration Date.
(ii) It is understood and agreed that the FTE Fully Loaded Costs shall be fixed until the next applicable Recalibration Date.
Recalibration. Global Contrarian is adaptive by nature. On a daily basis, new price information is entered into the system and included in the calibration for the next day’s trading signals. Markets evolve and Global Contrarian’s estimated values reflect this new information. Although failure to re-estimate system values by not incorporating new information can lead to a deterioration of the system’s performance, a single day’s information is expected to change the estimated values only marginally. See the Disclosure Document for a more detailed description of the Global Contrarian Program, which is incorporated by reference herein.
Recalibration. Reuters may increase the Reuters Fixed Cost Services and the services associated with the Ticker Plant. Moneyline may decrease certain Reuters Fixed Costs Services in accordance with Section 4(C)(i). Pursuant to any such changes, Reuters shall recalibrate the Moncyline Allocation and Fixed Costs based on internal measurements on the Recalibration Date. Any resulting changes in the payment obligations set forth herein shall become effective with the first invoice issued following the most recent Recalibration Date.
Recalibration. Global Trend is adaptive by nature. On a daily basis, new price information is entered into the system and included in the calibration for the next day’s trading signals. Markets evolve and Global Contrarian’s estimated values reflect this new information. Although failure to re-estimate system values by not incorporating new information can lead to a deterioration of the system’s performance, a single day’s information is expected to change the estimated values only marginally.. See the Disclosure Document for a more detailed description of the Global Trend Program, which is incorporated by reference herein.
Recalibration. If the LNG tanks of any LNG Vessel suffer distortion of such nature as to create a reasonable doubt regarding the validity of the tank gauge tables described herein (or any subsequent calibration provided for herein), Customer or Customer's agent shall recalibrate the damaged tanks, and the vessel shall not be employed as an LNG Vessel hereunder until appropriate corrections are made. If mutually agreed between Customer and FLNG representatives, recalibration of damaged tanks can be deferred until the next time when such damaged tanks are warmed for any reason, and any corrections to the prior tank gauge tables will be made from the time the distortion occurred. If the time of the distortion cannot be ascertained, the Parties shall mutually agree on the time period for retrospective adjustments. Accuracy of Measurement ----------------------- All measuring equipment must be maintained, calibrated and tested in accordance with the manufacturer's recommendations. In the absence of a manufacturer's recommendation, the minimum frequency of calibration shall be 180 days, unless otherwise mutually agreed between the Parties. Documentation of all tests and calibrations will be made available by the Party performing the same to the other Party. Acceptable accuracy and performance tolerances will be: Temperature: +/- 0.2 degrees Celsius at - 160 degrees Celsius Pressure: +/- 2% of the calibrated span of the measuring device Level Gauge: +/- 5 millimeter Level Gauge Systems Comparison: +/- 5 millimeter Gauging and Measuring LNG Volumes Delivered ------------------------------------------- Gauge Tables. Upon FLNG's representative and the independent surveyor's, if present, arriving on board the LNG Vessel prior to the commencement of or during unloading, Customer or Customer's representative shall make available to them a certified copy of tank gauge tables for each tank of the LNG Vessel.