Modification/Termination Based on VSP Requirements Clause Samples

The "Modification/Termination Based on VSP Requirements" clause allows a party, typically the Vendor Service Provider (VSP), to alter or end the agreement if certain requirements or conditions set by the VSP change. In practice, this means that if the VSP's operational needs, regulatory obligations, or internal policies are updated, the contract can be modified to reflect those changes or terminated if compliance is not feasible. This clause ensures that the VSP retains flexibility to adapt to evolving circumstances, thereby managing risk and maintaining compliance with its own standards or external regulations.
Modification/Termination Based on VSP Requirements. 2.5.1. If the Issuing Authority enters into any franchise agreement, license, or grant of authorization to a VSP to provide Video Programming services to residential subscribers in the Town and provided that such terms or conditions can be reasonably demonstrated to materially and adversely affect Verizon’s competitive position relative to any VSP that has entered an agreement, etc. that is deemed materially less burdensome, Licensee and the Issuing Authority shall, within sixty (60) days of the Issuing Authority’s receipt of Licensee’s written notice, commence negotiations to modify this License to create reasonable competitive equity between Licensee and such other VSPs. The ▇▇▇ ▇▇▇▇▇ and PEG Access Support, as provided in Sections 5.3 and 5.4, will not be subject to modification under this Section 2.5.1 or 2.5.2. 2.5.2. In the event the parties do not reach mutually acceptable agreement on a modification requested by Licensee, Licensee shall, at any time and in its sole discretion, have the option of exercising any of the following actions: (36) months from the date of ▇▇▇▇▇▇▇▇’s written notice to seek relief hereunder;
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Modification/Termination Based on VSP Requirements. 1. If the Issuing Authority enters into any cable franchise, cable license or similar agreement with a VSP to provide Video Programming services to residential subscribers in the Town with terms or conditions materially less burdensome than those imposed by this License, Licensee and the Issuing Authority shall, within sixty (60) days of the Issuing Authority’s receipt of Licensee’s written notice thereof, commence negotiations to modify this License to provide that this License is not on terms or conditions materially more burdensome than the terms in any such cable franchise, cable license or similar agreement. Any modification of the License pursuant to the terms of this Section shall not trigger the requirements of 207 CMR 3.07. The PEG Access Support, as provided in Section 13.3, will be subject to modification under Section 13.3(b) for competitive equity purposes but shall not be subject to modification under this Section 15.5. 2. Licensee’s notice pursuant to Section 15.5.1 shall specify the cable franchise, cable license or similar agreement and the materially less burdensome terms or conditions as set out Section
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Modification/Termination Based on VSP Requirements. 2.5.1 If there is a change in federal, state, or local law that reduces any material financial and/or operational obligation that the LFA has required from or imposed upon a VSP, or if the LFA enters into any franchise, agreement, license, or grant of authorization to a VSP to provide Video Programming services to residential subscribers in the LFA with terms or conditions materially less burdensome than those imposed by this Franchise, Franchisee and the LFA shall, within sixty (60) days of the LFA’s receipt of Franchisee’s written notice, commence negotiations to modify this Franchise to create reasonable competitive equity between Franchisee and such other VSPs. Any modification of the Franchise pursuant to the terms of this section shall not trigger the requirements of Subpart 892-1 of the NY PSC rules and regulations. 2.5.2 Franchisee’s notice pursuant to Section 2.5.1. shall specify the change in law and the resulting change in obligations. Franchisee shall respond to reasonable information requests from the LFA, as may be necessary to review the change in obligations resulting from the cited law. 2.5.3 In the event the parties do not reach mutually acceptable agreement on a modification requested by Franchisee, Franchisee shall, at any time and in its sole discretion, have the option of exercising any of the following actions: a. Commence franchise renewal proceedings in accordance with 47 U.S.C. §546 with the Franchise term being accelerated, thus being deemed to expire thirty-six
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Modification/Termination Based on VSP Requirements. 2.5.1 If there is a change in federal, state, or local law that reduces any material financial and/or operational obligation that the County has required from or imposed upon a VSP, or if the County enters into any franchise, agreement, license, or grant of authorization to a VSP to provide Video Programming services to residential subscribers in the County with terms or conditions materially less burdensome than those imposed by this Franchise, Franchisee and the County shall, within sixty (60) days of the County’s receipt of Franchisee's written notice, commence negotiations to modify this Franchise to create reasonable competitive equity between Franchisee and such other VSPs. 2.5.2 Franchisee's notice pursuant to Section 2.5.1 shall specify the change in law and the resulting change in obligations. Franchisee shall respond to reasonable information requests from the County, as may be necessary to review the change in obligations resulting from the cited law. 2.5.3 In the event the parties do not reach mutually acceptable agreement on a modification requested by Franchisee, Franchisee shall, at any time and in its sole discretion, have the option of exercising any of the following actions, except where agreement of both parties is required in Sections 2.5.3.3 and ▇.▇.▇.▇:
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Modification/Termination Based on VSP Requirements. 1. If the Issuing Authority enters into any cable franchise, cable license or similar agreement with a VSP to provide Video Programming services to residential subscribers in the Town with terms or conditions materially less burdensome than those imposed by this License, Licensee and the Issuing Authority shall, within sixty (60) days of the Issuing Authority’s receipt of Licensee’s written notice thereof, commence negotiations to modify this License to provide that this License is not on terms or conditions materially more burdensome than the terms in any such cable franchise, cable license or similar agreement. Any modification of the License pursuant to the terms of this Section shall not trigger the requirements of 207 CMR 3.07. The PEG Access Support, as provided in Section 13.3, will be subject to modification under Section 13.3(b) for competitive equity purposes but shall not be subject to modification under this Section 15.5. 2. Licensee’s notice pursuant to Section 15.5.1 shall specify the cable franchise, cable license or similar agreement and the materially less burdensome terms or conditions as set out Section 15.5.1 above. Licensee shall respond to reasonable information requests from the Town, as may be necessary to review the same. 3. In the event the parties do not, subject to the criteria above, reach mutually acceptable agreement on a modification as set out above, Licensee shall in its sole discretion, have the option of exercising any of the following actions: a) commencing License renewal proceedings in accordance with 47 U.S.C. 546 with the License Term being accelerated, thus being deemed to expire thirty- six (36) months from the date of Licensee’s written notice to seek relief hereunder; b) terminating the License in no less than thirty-six (36) months from written notice to the Issuing Authority; c) if agreed by both parties, submitting the matter to commercial arbitration by a mutually-selected arbitrator in accordance with the rules of the American Arbitration Association; or d) if agreed to by both parties, submitting the matter to mediation by a mutually-acceptable mediator. Modification of the PEG Access Support under this License shall, as applicable, be in accordance with the terms and conditions set forth in Section 13.3(b) hereunder.
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Related to Modification/Termination Based on VSP Requirements

  • Additional Termination Provisions Notwithstanding and in addition to the foregoing, in the event that (i) a Mortgage Loan becomes delinquent for a period of 90 days or more (a "Delinquent Mortgage Loan") or (ii) a Mortgage Loan becomes an REO Property, the Purchaser may at its election terminate this Agreement with respect to such Delinquent Mortgage Loan or REO Property, upon 15 days' written notice to the Seller.

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.