Common use of Notification Timing Clause in Contracts

Notification Timing. GMAC will update Support Rates on a monthly basis and provide them to GM at least 3 Business Days before the [***] day of each month • If unforeseen circumstances (e.g., a capital markets upheaval such as experienced on 9/11, a natural disaster, etc.) prohibit GMAC from delivering the Support Rates on time, GMAC will notify GM as soon as it is aware of the potential delay and provide GM with an estimated delivery date • The delayed delivery date will be no later than the 4th Business Day of the month in which the Support Rates are effective • Updated Support Rates will become effective on [***], unless otherwise agreed by GM and GMAC, or as provided in Exhibit E • No later than 2 Business Days after GMAC notifies GM of updated Support Rates, GMAC will provide GM with summaries of the data and analyses supporting any changes to the assumptions, as well as a copy of the pricing model used to determine the rates • As noted in Section 1 of this Exhibit B, GMAC will provide GM with a preview and estimated impact of any new or re-designed pricing model, any major changes in methodology that are expected to [***], or any revised pricing segmentation at least [***] before the applicable Support Rates go into effect • GM will have 15 Business Days after receiving the assumption data and analyses to review and challenge GMAC’s pricing actions. GM may make reasonable requests for additional information or clarification on the analysis provided, and GMAC will put forth its best efforts to provide the requested information in a timely manner • GM will have 10 Business Days from the time it receives additional requested information / clarification to complete its review and challenge GMAC’s pricing actions • If GM does challenge, the Dispute will follow the resolution process set forth in Section 10.7 of the Agreement, including the requirement to work at the local level prior to escalation • If GM successfully challenges GMAC’s calculations of its Support Rates, GMAC will reimburse GM (or receive from GM) any excess payments made (or deficit in payments not made) by GM from the time that GM began being charged the incorrectly determined Support Rates

Appears in 1 contract

Sources: Consumer Financing Services Agreement (Ally Financial Inc.)

Notification Timing. GMAC will update Support Rates on a monthly basis and provide them to GM at least 3 Business Days before the [***] day of each month If unforeseen circumstances (e.g., a capital markets upheaval such as experienced on 9/11, a natural disaster, etc.) prohibit GMAC from delivering the Support Rates on time, GMAC will notify GM as soon as it is aware of the potential delay and provide GM with an estimated delivery date • The delayed delivery date will be no later than the 4th Business Day of the month in which the Support Rates are effective • Updated Support Rates will become effective on [***], unless otherwise agreed by GM and GMAC, or as provided in Exhibit E • No later than 2 Business Days after GMAC notifies GM of updated Support Rates, GMAC will provide GM with summaries of the data and analyses supporting any changes to the assumptions, as well as a copy of the pricing model used to determine the rates As noted in Section 1 of this Exhibit B, GMAC will provide GM with a preview and estimated impact of any new or re-designed pricing model, any major changes in methodology that are expected to [***], or any revised pricing segmentation at least [***] before the applicable Support Rates go into effect • GM will have 15 Business Days after receiving the assumption data and analyses to review and challenge GMAC’s pricing actions. GM may make reasonable requests for additional information or clarification on the analysis provided, and GMAC will put forth its best efforts to provide the requested information in a timely manner GM will have 10 Business Days from the time it receives additional requested information / clarification to complete its review and challenge GMAC’s pricing actions If GM does challenge, the Dispute will follow the resolution process set forth in Section 10.7 of the Agreement, including the requirement to work at the local level prior to escalation • If GM successfully challenges GMAC’s calculations of its Support Rates, GMAC will reimburse GM (or receive from GM) any excess payments made (or deficit in payments not made) by GM from the time that GM began being charged the incorrectly determined Support Rates

Appears in 1 contract

Sources: Consumer Financing Services Agreement (General Motors Co)