Common use of Implementation Milestones Clause in Contracts

Implementation Milestones. The Parties expect the implementation of the Cooperative System to occur in several phases and agree to use their best efforts to achieve implementation milestones on the following timeline: • on or before January 31, 2014, the execution of a Memorandum of Agreement by each of the Participating Jurisdictions setting out the terms and conditions of the Cooperative System (to which the draft Cooperative Legislation (subject to legislative approval), as approved by the Participating Jurisdictions, will be attached); • on or before March 31, 2014, the publication of the initial draft regulations of the Cooperative Legislation for public comment; • on or before May 30, 2014, the execution of an agreement by each of the Participating Jurisdictions setting out the terms and conditions for the integration of their securities regulatory body into the CMR (which may differ as between Participating Jurisdictions to accommodate their distinctive circumstances); and • on or before December 31, 2014, the enactment of provincial legislation by each provincial Participating Jurisdiction and the enactment of the complementary federal legislation by Parliament. Based on this timeline, the Parties expect the CMR to be operational by July 1, 2015.

Implementation Milestones. The Parties expect the implementation of the Cooperative System to occur in several phases and agree to use their best efforts to achieve implementation milestones on the following timeline: •  on or before January 31, 2014, the execution of a Memorandum of Agreement by each of the Participating Jurisdictions setting out the terms and conditions of the Cooperative System (to which the draft Cooperative Legislation (subject to legislative approval), as approved by the Participating Jurisdictions, will be attached); •  on or before March 31, 2014, the publication of the initial draft regulations of the Cooperative Legislation for public comment; •  on or before May 30, 2014, the execution of an agreement by each of the Participating Jurisdictions setting out the terms and conditions for the integration of their securities regulatory body into the CMR (which may differ as between Participating Jurisdictions to accommodate their distinctive circumstances); and •  on or before December 31, 2014, the enactment of provincial legislation by each provincial Participating Jurisdiction and the enactment of the complementary federal legislation by Parliament. Based on this timeline, the Parties expect the CMR to be operational by July 1, 2015.