Interim Revisions Clause Samples
The Interim Revisions clause allows for temporary or provisional changes to a contract or agreement before a final version is established. Typically, this clause outlines the process by which parties can propose, review, and implement modifications on a short-term basis, often in response to evolving circumstances or new information. Its core function is to provide flexibility and adaptability during the negotiation or execution phase, ensuring that the agreement remains relevant and effective while longer-term solutions are developed.
Interim Revisions. (a) Carrier shall promptly notify all Initial Shippers of any reduction in Available Capacity (not reflected in the then current Schedule) for a Schedule Month which occurs after the seventeenth day of the prior calendar month. With such notice Carrier shall also notify the Initial Shippers of the revised Scheduled Capacity allocations resulting from such reduction using the allocation and priority rules of Article Two above.
(b) Carrier shall promptly notify all Initial Shippers of the amount of any increase in Available Capacity (not reflected in the then current Schedule) for a Schedule Month which occurs after the seventeenth day of the prior calendar month and before the seventeenth day of such Schedule Month. Within two days after receipt of such notice, each Full Nominator shall notify Carrier, in any form or format reasonably required by Carrier, of its request to be allocated all or any portion of the increased capacity of such Segment. Within two days after receipt of such nominations, Carrier shall notify the Initial Shippers of the revised Scheduled Capacity allocations resulting from such increase and nominations, using the allocation and priority rules of Article Two above.