Common use of Financial Model Clause in Contracts

Financial Model. Following the delivery by the Service Provider of each Annual Contract Report and any Contract Amendment Report: the Parties shall meet to discuss its contents within ten (10) Working Days of receipt (or such other period as the Parties shall agree). The Financial Representative shall attend the meeting; the Service Provider shall make appropriate Service Provider Personnel and advisers available to discuss any variations between the relevant Financial Report and the Contract Inception Report or immediately preceding Annual Contract Report or Contract Amendment Report (as the case may be) and to explain such variations (with reference to supporting evidence) to the satisfaction of the Purchaser; and the Purchaser shall either within ten (10) Working Days of the meeting referred to in paragraph 2.1.1 notify the Service Provider that: the relevant Financial Report contains errors or omissions or that further explanations or supporting information is required, in which event the Service Provider shall make any necessary modifications to the Financial Report and/or supply the Purchaser with such supporting evidence as is required to address the Purchaser’s concerns within ten (10) Working Days of such notification and the Purchaser shall following receipt of such amended Financial Report and/or supporting information, approve or reject such Financial Report; or the Purchaser has approved the relevant Financial Report. Following approval by the Purchaser of the relevant Financial Report in accordance with Paragraph 2.1.3, that version shall become, with effect from the date of such approval, the current approved version of the Financial Model for the purposes of this Contract, a version of which shall be held by both the Purchaser and the Service Provider. If there is a dispute regarding a Financial Report, the Purchaser’s copy of the relevant Financial Report shall be authoritative. If the Parties are unable to reach agreement on any Financial Report within thirty (30) Working Days of its receipt by the Purchaser, the matter shall be referred for determination in accordance with clause 61 (Dispute Resolution).