Common use of Unilateral Action Clause in Contracts

Unilateral Action. DBS will maintain a critical path schedule which reasonably defines critical components which, if delayed, will have a significant impact on the time for completion of any significant Deliverable. Schedule 2.2 contains the critical path schedule governing the implementation of JV Release 1.0. The parties recognize, however, that the schedule may not be all inclusive. In the event of an actual delay or a delay in complying with the critical path schedule which DBS should reasonably anticipate, DBS must inform LLC in reasonable detail about such problems and the corrective procedures (including the time needed for correction) without undue delay using the Project Problem report procedure. In an emergency situation, DBS can take unilateral action to mitigate the emergency and inform LLC without undue delay afterwards. This Clause applies mutatis mutandis to the Eurex Entities.

Appears in 3 contracts

Samples: Systems Operations Agreement (Cbot Holdings Inc), Systems Operations Agreement (Board of Trade of the City of Chicago Inc), Systems Operations Agreement (Board of Trade of the City of Chicago Inc)

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Unilateral Action. DBS will maintain a critical path schedule which reasonably defines critical components which, if delayed, will have a significant impact on the time for completion of any significant Deliverable. Schedule 2.2 contains 2.2.1 and Clause 2.2.1 contain the critical path schedule governing the development and implementation of JV Release 1.0. The parties recognize, however, that the schedule may not be all inclusive. In the event of an actual delay or a delay in complying with the critical path schedule which DBS should reasonably anticipate, DBS must inform LLC in reasonable detail about such problems and the corrective procedures (including the time needed for correction) without undue delay using the Project Problem report procedure. In an emergency situation, DBS can take unilateral action to mitigate the emergency and inform LLC without undue delay afterwards. This Clause applies mutatis mutandis to the Eurex Entities.

Appears in 3 contracts

Samples: Master Software Development Agreement (Board of Trade of the City of Chicago Inc), Master Software Development Agreement (Cbot Holdings Inc), Master Software Development Agreement (Board of Trade of the City of Chicago Inc)

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