Common use of Agencies Clause in Contracts

Agencies. (a) The Service Provider acknowledges that the list of Agencies and the categorisation of an Agency for the purposes of this Agreement by the State may change from time to time. The State may, by notice in writing to the Service Provider: (1) add a new entity as an Agency to Schedule 1 (List of Agencies); (2) remove an Agency from Schedule 1 (List of Agencies); and (3) change the categorisation of an Agency from a TBS Agency to a Non- TBS Agency and vice versa, and any other categorisation or inclusion within any other State Set-off Arrangements, and such addition, removal or other change shall take effect without any requirement to execute an Agreement Contract Change. (b) The notification of removal of an Agency from Schedule 1 (List of Agencies) will, subject as set out below, have the effect that this Agreement will no longer operate in respect of that Agency as from the date stated in the notice or such other date as may be agreed between the State and the Service Provider and the Product Agreement between the Service Provider and that Agency will terminate from the date of notification of the removal of that Agency unless otherwise specified by the State and subject to that Agency’s rights to an Agency Transition-Out Period. The removal of an Agency does not affect any outstanding liabilities, Fees and Charges for Services provided by the Service Provider to that Agency prior to the date of its removal from Schedule 1 (List of Agencies).

Appears in 4 contracts

Sources: Banking, Payments and Related Services Agreement, Banking, Payments and Related Services Agreement, Banking, Payments and Related Services Agreement