Common use of Exception Handling Clause in Contracts

Exception Handling. 16.1. While it is expected the Service Levels will be applied to all portfolio transfer activity, there may be times when the Participants decide to ‘opt out’ of some aspects. If the activity relates to one of the exceptions listed in section 6 (Exception Handling), such as dealing with a bulk client portfolio transfer request, then the process in section 6 will apply. If the Participants want to opt out of complying with the Service Levels in any other circumstance, this can only be done in accordance with the Contract Terms (which includes notifying TeX of the agreement to opt out within 2 Business Days). 16.2. In-flight transactions: 16.2.1. This term is intended to cover such items as pending acquisitions and disposals. The formal definition is in the UKETRG guidance referred to in section 2.2. 16.2.2. The Ceding Party will decide to accept the initial request in respect of those assets that can be transferred or indicate a pending transaction.

Exception Handling. 16.115.1. While it is expected the Service Levels will be applied to all portfolio transfer activity, there may be times when the Participants decide to ‘opt out’ of some aspects. If the activity relates to one of the exceptions listed in section 6 5 (Exception Handling), such as dealing with a bulk client portfolio transfer request, then the process in section 6 5 will apply. If the Participants want to opt out of complying with the Service Levels in any other circumstance, this can only be done in accordance with the Contract Terms (which includes notifying TeX of the agreement to opt out within 2 Business Days). 16.215.3. In-flight transactions: 16.2.115.3.1. This term is intended to cover such items as pending acquisitions and disposals. The formal definition is in the UKETRG guidance referred to in section 2.2. 16.2.215.3.2. The Ceding Party will decide to accept the initial request in respect of those assets that can be transferred or indicate a pending transaction.