14.14 The TPB will act as the primary mechanism for managing hubco's performance.
14.15 hubco shall regularly monitor and report to the TPB on the performance of hubco (and its Partnering Subcontractors) under this Agreement and of the Project Service Providers and the Supply Chain Members under Project Agreements.
14.16 hubco shall, within twenty (20) Business Days of each Review Date, complete and issue to the TPB the hubco Performance Report. The hubco Performance Report shall include a review of each of the Key Performance Indicators, detailing, in each case, whether or not the relevant Key Performance Indicator has been met together with a summary of the data and scoring supporting each of the Key Performance Indicators (which data and scoring shall be as up to date as reasonably practicable as at the Review Date and in any event shall be up to date as at the date thirty (30) Business Days prior to the Review Date). If any change is made to the hubco Performance Report pursuant to the procedure in Clause 14.18, then references to the hubco Performance Report shall be read as references to the hubco Performance Report as updated or amended by agreement with hubco or as a result of agreement or determination pursuant to the Dispute Resolution Procedure.
14.17 The Participants and hubco shall meet annually following each Review Date to consider whether the Key Performance Indicators remain the most appropriate measure of hubco's performance of the Services, having regard in particular to the principle that a continuous improvement in hubco's performance should be incentivised through the Key Performance Indicators and the requirement to comply with prevailing Law and applicable governmental policy, and shall act reasonably in seeking to agree any amendment to the Key Performance Indicators and consequential changes to the Partnering Services Method Statements.
14.18 In each year, as soon as reasonably practicable after receipt of the hubco Performance Report and in any event not later than one (1) month thereafter (or failing receipt of the hubco Performance Report, within two (2) months after the Review Date in that year), the TPB will hold a formal annual review (the "Annual Review") of the operation of this Agreement and hubco's performance in the context of the targets and objectives in the TDP and the Key Performance Indicators. The requirements in relation to the content and conduct of the review will be agreed from time to time by the Parties. As part of this review, the TPB (excluding for such purposes hubco's representative) will review hubco's progress against the partnership objectives in this Agreement and the hubco Performance Report and the TPB (excluding for such purposes hubco's representative) and hubco shall seek to agree, in good faith, any key findings from such review together with the implications thereof in relation to the hubco's future activities. The Participants and/or the TPB shall be entitled to require information and/or clarification from hubco in relation to the hubco Performance Report including as to whether or not the Track Record Test has been passed and, to the extent relevant, any Significant Performance Failure has occurred. Any dispute in relation to the hubco Performance Report (including whether or not the Track Record Test has been passed and, to the extent relevant, any Significant Performance Failure has occurred3) shall be resolved by reference to the Dispute Resolution Procedure.
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3 While Significant Performance Failures should as a minimum be identified in the annual reporting cycle reflected in this Clause, Territories will wish to explore with bidders during dialogue the extent to which Significant Performance Failures can arise at other points in time.