Change in Regulation Sample Clauses

A Change in Regulation clause defines how the parties will address situations where new laws or regulatory changes impact the agreement. Typically, this clause allows for adjustments to the contract terms, such as pricing or obligations, if compliance with new regulations imposes additional costs or makes performance more difficult. For example, if a government introduces new environmental standards that affect the subject matter of the contract, the parties may renegotiate certain terms. The core function of this clause is to allocate risk and provide a mechanism for adapting the contract to unforeseen legal changes, ensuring that neither party is unfairly disadvantaged by regulatory developments.
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Change in Regulation. If during the Term any governmental authority implements a new regulation or changes its interpretation or enforcement of existing regulations (including any life safety, fire code or other laws or regulations) which necessitates repairs, renovations or other improvements to the Facility (each a “Required Improvement” and collectively, the “Required Improvements”), Tenant shall bear the cost of such Required Improvements up to a maximum of $50,000.00 in any Lease Year. If the cost of the Required Improvements in any Lease Year exceeds $50,000.00, Landlord shall pay the amount exceeding $50,000.00 (such excess, the “Landlord Investment”); provided, however, Tenant shall pay the Annual Yield on the Landlord Investment in accordance with the terms and conditions of Section 3.3 above.
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Change in Regulation. All costs associated with a modification made for reasons of a change in regulation shall: a) if the requirement is applicable solely to the Work (whether or not the Work is defective), be for the account of the Supplier; b) if the requirement is attributable solely to work done by the Purchaser in its activities, be for the account of the Purchaser; c) in all other cases the cost sharing (less any sum recovered by the Purchaser from another party) shall be negotiated between the Supplier and the Purchaser on the principle that each Party shall bear its own costs.
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Change in Regulation. Any change is made in the laws or regulations of the states of organization or domicile of any Insurance Subsidiary affecting the investment or dividend practices of any Insurance Subsidiary and which would reasonably be expected to result in a Material Adverse Effect.
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Change in Regulation. 8.1 If it becomes impossible to implement the Agreement due to amendments of the Broadcasting Act, the Telecommunications Business Act and other relevant laws or regulations or due to changes in the regulations of relevant government agencies including the Korea Communications Commission and the Ministry of Information and Communications, the Parties shall cooperate in good faith and amend the Agreement. 8.2 Celrun and CelrunTV shall cooperate with hanarotelecom in all matters necessary for obtaining a license or approval with respect to the Services, including in circumstances listed in paragraph 8.1.
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Change in Regulation. If the existing New Jersey regulations governing the Program are amended, suspended and/or otherwise no longer in force (a “Regulatory Change”), Lender may accelerate the repayment of the unpaid portion of the Loan and accrued interest unless: (i) Borrower continues to operate the Project in accordance with this Agreement; (ii) The minimum monetary value of the Project SRECs is the Floor Price, and the terms in this Agreement governing the amortization of the Loan and payment of all accrued interest remain in full force and effect; and (iii) The BPU continues to allow Lender to enjoy the comparable treatment, as described more fully in Section 2.9(a) above, with regard to those Projects in operation and creating SRECs after the Regulatory Change as Lender enjoyed prior to the Regulatory Change.
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Change in Regulation. Any change is made in the Michigan or Illinois Insurance Code or the Code affecting the investment or dividend practices of PICOM or PICOM-III. and which results or which may be reasonably expected to result in a Material Adverse Effect.
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Change in Regulation. The foregoing requirements contained in this Article 12 shall no longer apply or be effective in the event that (1) such provisions are no longer required in order to comply with the ownership criteria applicable to qualifying facilities under PURPA, and the rules, regulations and orders issued thereunder by the FERC; and (2) the Partnership is no longer required to maintain its status as a qualifying facility (i) under the express terms of any agreement to which the Partnership or either of the Project Partnerships is a party; (ii) in order to avoid any material adverse effect under any agreement to which the Partnership or Project Partnerships is a party; and (iii) in order to be eligible for exemption from the Public Utility Holding Company Act of 1935, as amended, and from the financial, organizational or rate regulations imposed upon electric utilities, public utilities or similar entities by any governmental authority.
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Related to Change in Regulation

  • Margin Regulations Neither the making of any Loan hereunder nor the use of the proceeds thereof will violate the provisions of Regulation T, U or X of the Board.

  • Change in Control Event (a) Participants may elect upon initial enrollment to have accounts distributed upon a Change in Control Event. (b) A Change in Control shall not be a Qualifying Distribution Event.

  • No Investment Company; Margin Regulation Become or be controlled by an “investment company,” within the meaning of the Investment Company Act of 1940, or become principally engaged in, or undertake as one of its important activities, the business of extending credit for the purpose of purchasing or carrying margin stock, or use the proceeds of any Credit Extension for such purpose.

  • Domestic Regulation 1. In sectors where specific commitments are undertaken, each Party shall ensure that all measures of general application affecting trade in services are administered in a reasonable, objective and impartial manner. 2. Each Party shall maintain or institute as soon as practicable judicial, arbitral or administrative tribunals or procedures which provide, at the request of an affected service supplier of the other Party, for the prompt review of, and where justified, appropriate remedies for, administrative decisions affecting trade in services. Where such procedures are not independent of the agency entrusted with the administrative decision concerned, the Party shall ensure that the procedures in fact provide for an objective and impartial review.

  • Prior to a Change in Control Termination by Executive for Good Reason; Termination by the Company Other Than for Poor Performance, Cause or Disability. If, prior to a Change in Control and during the Executive’s Employment Period, the Company terminates Executive’s employment other than for Poor Performance, Cause or Disability, or Executive terminates employment for Good Reason within a period of 90 days after the occurrence of the event giving rise to Good Reason, then (and with respect to the payments and benefits described in clauses (ii) through (vii) below, only if Executive executes a Release in substantially the form of Exhibit A hereto (the “Release”)): (i) the Company will pay to Executive in a lump sum in cash within 30 days after the Date of Termination the sum of (A) Executive’s Base Salary through the Date of Termination to the extent not theretofore paid, and (B) any accrued vacation pay to the extent not theretofore paid (the sum of the amounts described in clauses (A) and (B) will be hereinafter referred to as the “Accrued Obligations”); and (ii) for the longer of six months or until Executive becomes employed with a subsequent employer, but in no event to exceed the lesser of (A) 18 months from the Date of Termination or (B) the remaining term of Executive’s Employment Period (the “Normal Severance Period”), the Company will continue to pay Executive an amount equal to his monthly Base Salary, payable in equal monthly or more frequent installments as are customary under the Company’s payroll practices from time to time; provided, however, that the Company’s obligation to make or continue such payments will cease if Executive violates any of the Restrictive Covenants (as defined in Section 13(b) of this Agreement) and fails to remedy such violation to the satisfaction of the Board within 10 days of notice of such violation; and (iii) during the Normal Severance Period, if and to the extent Executive timely elects COBRA continuation coverage, the Company will pay for the full premium amount of such COBRA continuation coverage and will impute taxable income to the Executive equal to the full premium amount; provided, however that the Company’s obligation to provide such benefits will cease if Executive violates any of the Restrictive Covenants (as defined in Section 13(b) of this Agreement) and fails to remedy such violation to the satisfaction of the Board within 10 days of notice of such violation; provided further, that to the extent Executive continues COBRA continuation coverage beyond his Normal Severance Period, Executive will be responsible for paying the full cost of the COBRA continuation coverage in accordance with the procedures of the Company generally applicable to all qualified beneficiaries receiving COBRA continuation coverage; and (iv) not later than 30 days after the Date of Termination, Executive will be paid a bonus for the year in which the Date of Termination occurs in a lump sum cash amount equal to 100% of his Bonus Opportunity (prorated through the Date of Termination) adjusted up or down by reference to his year-to-date performance at the Date of Termination in relation to the prior established performance objectives under Executive’s bonus plan for such year; provided, however that the bonus payment described in this Section 8(b)(iv) will be reduced by the amount (if any) of the Bonus Opportunity that Executive had previously elected to receive in the form of restricted stock of the Company; and (v) all grants of restricted stock, restricted stock units and similar Company stock-based awards (“Restricted Stock”) held by Executive as of the Date of Termination will become immediately vested as of the Date of Termination; and (vi) all of Executive’s options to acquire Common Stock of the Company, stock appreciation rights in Common Stock of the Company and similar Company stock-based awards (“Options”) that would have become vested (by lapse of time) within the 24-month period following the Date of Termination had Executive remained employed during such period will become immediately vested as of the Date of Termination; and (vii) notwithstanding the provisions of the applicable Option agreement, all of Executive’s vested but unexercised Options as of the Date of Termination (including those with accelerated vesting pursuant to Section 8(b)(vi) above) will remain exercisable through the earlier of (A) the original expiration date of the Option, or (B) the 90th day following the end of the Normal Severance Period; and (viii) to the extent not theretofore paid or provided, the Company will timely pay or provide to Executive his Other Benefits.