Common use of Changes in Law, Etc Clause in Contracts

Changes in Law, Etc. The parties shall identify and assess the impact on the Services of a change in applicable Laws, Association Rules or Clearing System Rules that relate to the Services (a "LEGAL CHANGE"). If NDPS and/or GPI Canada or the Bank becomes aware of an impending or actual Legal Change, it shall notify the other of such Legal Change and provide an assessment of its impact. The parties shall in good faith attempt to agree upon any required modifications to the Services required as a result of a Legal Change. While a party is making any agreed upon modifications resulting from a Legal Change, it shall use Commercially Reasonable Efforts to continue to provide the Services to be provided by it at the specified Service Levels. If, however, such Legal Change prevents the party from meeting the Service Levels, the party shall use its Commercially Reasonable Efforts to arrange a reasonable solution which gives effect to the intent of this Agreement as closely as practicable and that delivers Service in the most commercially reasonable manner in the circumstances. If such Legal Change materially affects a party's cost of providing Services, NDPS and/or GPI Canada and the Bank shall in good faith negotiate an adjustment of the applicable Service Levels in accordance with Section 9.3.

Changes in Law, Etc. The parties shall identify and assess the impact on the Services of a change in applicable Laws, Association Rules or Clearing System Rules that relate to the Services (a "LEGAL CHANGELegal Change"). If NDPS and/or GPI Canada or the Bank becomes aware of an impending or actual Legal Change, it shall notify the other of such Legal Change and provide an assessment of its impact. The parties shall in good faith attempt to agree upon any required modifications to the Services required as a result of a Legal Change. While a party is making any agreed upon modifications resulting from a Legal Change, it shall use Commercially Reasonable Efforts to continue to provide the Services to be provided by it at the specified Service Levels. If, however, such Legal Change prevents the party from meeting the Service Levels, the party shall use its Commercially Reasonable Efforts to arrange a reasonable solution which gives effect to the intent of this Agreement as closely as practicable and that delivers Service in the most commercially reasonable manner in the circumstances. If such Legal Change materially affects a party's cost of providing Services, NDPS and/or GPI Canada and the Bank shall in good faith negotiate an adjustment of the applicable Service Levels in accordance with Section 9.3.