TECHNOLOGICAL ADVANCES Clause Samples
The TECHNOLOGICAL ADVANCES clause defines how the parties will address new or improved technologies that may arise during the course of their agreement. Typically, this clause outlines whether and how such advances can be incorporated into the products, services, or processes covered by the contract, and may specify procedures for updating specifications or pricing if new technology is adopted. Its core function is to ensure that the agreement remains relevant and adaptable in the face of technological change, preventing disputes and enabling both parties to benefit from innovation.
TECHNOLOGICAL ADVANCES. The County may require additional measures, if new technological methods for pit construction or maintenance are developed pre- or post-construction and such methods are technologically sound, economically practical, and reasonably available to the Operator.
TECHNOLOGICAL ADVANCES a. Supplier shall disclose intent to upgrade, modify, change out, or discontinue any equipment and consumables. Any act during the term of the Agreement that proposes intent to implement any change to the Goods thereof, shall be considered a breach. Subject to breach, Supplier shall upgrade all Goods at Contractors sole expense. All pricing within this Agreement shall transfer to the newly introduced or implemented Goods. The City shall not pay any increased costs whatsoever.
TECHNOLOGICAL ADVANCES. 6.1. Stentor does not warrant that the same transmission equipment will be used to provide the capacity described in Article 1 throughout the term of this Agreement. If it becomes advantageous to Stentor to upgrade some or all the transmission equipment, Stentor will inform Teleglobe at least six (6) months in advance and will provide service within the bounds of Article 3 during the period of facility upgrade. All reasonable efforts will be made to coordinate equipment changes to minimize interruptions and to provide, subject to the requirements of Stentor, to Teleglobe benefits of improved service/reduced maintenance costs resulting from such equipment upgrades with corresponding adjustments to the payments specified in Article 4.2. For greater certainty, Articles 8 and 10 will not apply with respect to unit availability or Network performance during such period of facility upgrade provided Teleglobe has given its prior consent to the facility upgrade which will be provided in a timely manner and not unreasonably withheld.
6.2. If during the term of this Agreement or any extension thereof, technological advances make practical the carriage of more or different telecommunications traffic on the fiber optic cable utilized to furnish the Network to Teleglobe, upon Teleglobe’s request Stentor will use commercially reasonable efforts to make those technological and operational modifications and install the equipment necessary to allow Teleglobe to take advantage of such advances subject to mutual agreement as to associated charges, if any.
6.3. Subject to Articles 6.1, Stentor agrees that it will not make Network impacting technological changes without the prior written consent of Teleglobe, acting reasonably.
TECHNOLOGICAL ADVANCES. A significant growth of derivative instruments has been driven by technological break through. Advances in this area include the development of high speed processors, network systems and enhanced method of data entry. Closely related to advances in computer technology are advances in telecommunications. Improvement in communications allow for instantaneous world wide conferencing, Data transmission by satellite. At the same time there were significant advances in software programmed without which computer and telecommunication advances would be meaningless. These facilitated the more rapid movement of information and consequently its instantaneous impact on market price. Although price sensitivity to market forces is beneficial to the economy as a whole resources are rapidly relocated to more productive use and better rationed overtime the greater price volatility exposes producers and consumers to greater price risk. The effect of this risk can easily destroy a business which is otherwise well managed. Derivatives can help a firm manage the price risk inherent in a market economy. To the extent the technological developments increase volatility, derivatives and risk management products become that much more important.
TECHNOLOGICAL ADVANCES. The combined efforts of the hydrologist and meteorologist are required in hydrological studies with emphasis on the following:
TECHNOLOGICAL ADVANCES a. Supplier will promptly offer and make available to City, on the same commercial terms as set forth in this Agreement, any alternative or new or subsequent generation products or versions thereof manufactured, sold or supplied by Supplier which are in the same product line as the Goods or in a product line complimentary to the Goods (collectively, the "New Goods"), which New Goods shall be deemed Goods hereunder upon the parties' good faith agreement as to revised specifications with respect to such New Goods.
b. Any proposed improvements, upgrades, enhancements, developments and changes to any Good (collectively, the "Improved Goods") will be promptly offered and made available to City on the same commercial terms as set forth in this Agreement and shall be incorporated in and deemed to be Goods hereunder upon the parties' good faith agreement as to revised specifications with respect to such Improved Goods.
c. Supplier shall provide to City all necessary information, data, samples and materials as City may request or require to enable City to fully inspect, test, evaluate and confirm to City's satisfaction, acting reasonably, the performance and quality of any proposed New Goods or Improved Goods.
TECHNOLOGICAL ADVANCES. It is understood and agreed that, during the term of this Agreement, various technological advances may occur that would improve the efficient handling of passengers, baggage, and cargo in and about the AIRPORT and the Signatory Airlines' use of anti operations at the AIRPORT, including share([ or common usage of AIRPORT facilities and the use of common use terminal equipment. In such event, the AUTHORITY and AIRLINE agree to consult as to the applicability of such technological advances to the AIRPORT and the efficient use of facilities if required to implement them.