Common use of Modifications and Rectifications to Coverage Clause in Contracts

Modifications and Rectifications to Coverage. 1. A Party may modify or rectify its coverage under Annex XIV or Annex XV provided that: (a) it notifies the other Parties in writing; (b) it offers at the same time adequate compensatory adjustments to maintain a level of coverage comparable to that existing prior to the modification, except as provided in paragraph 2; and (c) no Party objects in writing within 45 days following the date of notification. The Parties may agree to extend the deadline pending completion of their internal procedures. 2. A Party need not provide compensatory adjustments when the Parties agree that the proposed modification covers a procuring entity over which a Party has effectively eliminated its control or influence. When a Party objects to the assertion that such government control or influence has been effectively eliminated, the objecting Party may request further information or consultations with a view to clarifying the nature of any government control or influence and reaching agreement on the procuring entity’s continued coverage. 3. Amendments pursuant to this Article shall enter into force 45 days following the date of the circulation of the notification or upon expiration of the agreed time for objections to the notification. The Party having requested the modification or rectification shall notify the Depositary of the modification or rectification.

Modifications and Rectifications to Coverage. 1. A Party may modify or rectify its coverage under Annex XIV or Annex XV provided that: (a) it notifies the other Parties in writing; (b) it offers at the same time adequate compensatory adjustments to maintain a level of coverage comparable to that existing prior to the modification, except as provided in paragraph 2; and (c) no Party objects in writing within 45 days following the date of notification. The Parties may agree to extend the deadline pending completion of their internal procedures. 2. A Party need not provide compensatory adjustments when the Parties agree that the proposed modification covers a procuring entity over which a Party has effectively eliminated its control or influence. When a Party objects to the assertion that such government control or influence has been effectively eliminated, the objecting Party may request further information or consultations with a view to clarifying the nature of any government control or influence and reaching agreement on the procuring entity’s 's continued coverage. 3. Amendments pursuant to this Article shall enter into force 45 days following the date of the circulation of the notification or upon expiration of the agreed time for objections to the notification. The Party having requested the modification or rectification shall notify the Depositary of the modification or rectification.