Other conditions under which access is granted
Article 4
1. A person with proprietary rights to a benchmark shall set the conditions for licensing agreements and make them available to CCPs and trading venues upon request free of charge. The conditions shall include the following: (a) the scope of use and content of information for each use under the licensing agreements, clearly identifying in each case confidential information; (b) the conditions for redistribution, if allowed, of information by CCPs and trading venues; (c) the technical requirements for the delivery of the service; (d) the fees and the conditions for paying them; (e) the conditions under which the agreement expires taking into consideration the lifespan of financial instruments that reference the benchmark; (f) the contingency circumstances and the relevant measures to regulate the continuation, transitional periods and interruption of the service during a contingency period, which: (i) allow for termination in an orderly manner; (ii) ensure that termination is not triggered by minor breaches of the contract and that the relevant party is given a reasonable amount of time to remedy any breach that does not give rise to immediate termination; (g) the governing law and allocation of liabilities. 2. The licensing agreement shall require that CCPs, trading venues and persons with proprietary rights to a benchmark establish adequate policies, procedures and systems to ensure the following: (a) implementation of the service without undue delay according to a prearranged schedule; (b) keeping up to date all information provided by the parties throughout the duration of the access arrangement, including information that could have a reputational impact; (c) a communication channel between the parties that is timely, reliable and secure during the lifetime of the licence agreement; (d) consultation where any change to either entity's operations is likely to have a material impact on the licence agreement or on the risks to which the other entity is exposed and notification within a reasonable notice period before any change to either entity's operation is implemented; (e) the provision of information and the relevant instructions to transmit and use it through the technical means agreed; (f) the provision of up-to-date information to persons with proprietary rights to a benchmark regarding the redistribution, if allowed, of information to clearing members of CCPs and members or participants of trading venues; (g) resolution of disputes and termination of the agreement occurs in an orderly manner according to the identified circumstances.