CHANGES IN CIRCUMSTANCE Clause Samples

The "Changes in Circumstance" clause defines how parties should address situations where unforeseen events or significant changes affect the original terms of an agreement. Typically, this clause outlines the process for notifying the other party, renegotiating terms, or possibly suspending or terminating obligations if circumstances such as regulatory changes, force majeure events, or market shifts occur. Its core function is to provide a structured mechanism for adapting the contract to new realities, thereby reducing uncertainty and helping both parties manage risk when unexpected developments arise.
CHANGES IN CIRCUMSTANCE. Applicants whose circumstances change once they have been accepted onto the B-with-us register must login and update their details without delay. Failure to update their application could result in them becoming disqualified and facing prosecution for fraud. If, as a result of a change in circumstances, an applicant gains a higher banding, their effective date will be automatically updated to reflect the date that this band was awarded. If an applicant updates their application with a change in circumstances but there is no change to their band, their effective date will remain the same. If an applicant updates their application with a change in circumstances and they are awarded a lower band, their effective date will change to the date they were previously in that band, or to their original effective date if they have never been in the lower band (i.e. the original date the application was accepted onto the B-with-us housing register). If an applicant updates their application and they are assessed as being no longer eligible or no longer qualifying, their application will be closed.
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CHANGES IN CIRCUMSTANCE. If any change in applicable law or regulation or in the application or interpretation thereof by any government authority charged with the administration thereof shall make it impracticable or unlawful for the Lender to maintain or give effect to its obligations under this Agreement, the Lender shall give notice in writing to the Company of such event and the Lender’s obligation to make the Facility available shall be cancelled and the Company shall within 14 days of receipt of such notice repay to the Lender the Loan and accrued interest thereon to the date of repayment.
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CHANGES IN CIRCUMSTANCE. 17.1 In the event that any of the Banks by reason of circumstances affecting the market are unable at the relevant time to obtain deposits in USD in the London Interbank Eurocurrency Market to fund the Commitment or the Loan (as the case may be), the Agent shall forthwith notify the Borrower thereof and until such notice is withdrawn the obligation of the Banks to advance the Commitment or the Loan (as the case may be) shall be suspended. The Banks shall then endeavour to fund the relevant part of the Commitment or the Loan (as the case may be) with USD from such alternative sources as may be available to them and in such case the rate of interest payable on such amount by the Borrower shall be the aggregate of the Margin and the rate as the Banks shall from time to time certify as being the cost to them of the relevant funds. 17.2 If any of the Banks are unable to fund the relevant USD amount from alternative sources, or the Borrower does not accept the terms of such alternative funding (which the Borrower shall be at liberty to do), the Borrower shall repay to the Agent (for the account of the Banks) the Loan or the affected part thereof together with accrued interest thereon on the earlier of the date falling five (5) Banking Days after receipt of written notice thereof and the next Interest Payment Date. 17.3 If, at any time when any of the Banks are funding from alternative sources, they find that USD deposits again are available to them in the London Eurocurrency Market they shall forthwith notify the Borrower via the Agent and resume the ordinary terms of this Loan Agreement as soon as the alternative source funding may be converted into ordinary funding hereunder. 17.4 In the event that it shall become unlawful for any of the Banks or the Agent to make the Commitment available or maintain or fund the Loan (as the case may be) or any part thereof, then the Banks’ obligations shall terminate and all amounts owing by the Borrower to all the Banks hereunder shall become due and payable on demand. 17.5 In the event that any law, regulation or official directive (having the force of law) or change in the same shall subject any of the Banks to any Taxes or impose any reserve, deposit or other requirement (including capital adequacy) which results in an increase in the cost to any of the Banks of making available the Commitment or maintaining or funding the Loan (as the case may be) or results in a reduction in the amount of Principal or interest receivabl...
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CHANGES IN CIRCUMSTANCE. SECTION 8.1. Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any Interest Period for any EuroDollar Loan: (a) the Agent is advised by the Reference Bank that quotations for deposits (in the applicable amounts) are not being offered to the Reference Bank, or (b) Banks having 50% or more of the aggregate principal amount of the affected Loans advise the Agent that the Adjusted London Interbank Offered Rate will not adequately and fairly reflect the cost to such Banks of funding their EuroDollar Loans for such Interest Period, the Agent shall forthwith give notice thereof to the Borrower and the Banks, whereupon until the Agent notifies the Borrower that the circumstances giving rise to such suspension no longer exist (which notice shall be given forthwith upon receipt by the Agent of notice of such determination), (i) the obligations of the Banks to make EuroDollar Loans, or to continue or convert outstanding Loans as or into EuroDollar Loans, shall be suspended and (ii) each outstanding EuroDollar Loan, shall be converted into a Base Rate Loan on the last day of the then current Interest Period applicable thereto. Unless the Borrower notifies the Agent at least two Domestic Business Days before the date of any EuroDollar Borrowing for which a Notice of Borrowing has previously been given (which has not been followed by a notification from the Agent as aforesaid) that it elects not to borrow on such date, such Borrowing shall instead be made as a Base Rate Borrowing.
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CHANGES IN CIRCUMSTANCE. 12 9.1 Illegality................................................ 12 9.2
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CHANGES IN CIRCUMSTANCE. 33 SECTION 8.01. Basis for Determining Interest Rate Inadequate or Unfair.........................................................33 SECTION 8.02. Illegality...............................................................................34 SECTION 8.03. Increased Cost and Reduced Return........................................................34 SECTION 8.04. Taxes....................................................................................35 SECTION 8.05. Base Rate Loans Substituted for Affected EuroDollar Loans....................................................36
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CHANGES IN CIRCUMSTANCE 
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Related to CHANGES IN CIRCUMSTANCE

  • Changes in Circumstances It is expressly understood and agreed that the Grantee assumes all risks incident to any change hereafter in the applicable laws or regulations or incident to any change in the market value of the Restricted Shares after the date hereof.

  • Change in Circumstances SECTION 8.01. Basis for Determining Interest Rate Inadequate or Unfair. If on or prior to the first day of any Interest Period for any Euro-Dollar Loan or Money Market LIBOR Loan: (a) the Agent is advised by the Reference Banks that deposits in the applicable currency (in the applicable amounts) are not being offered to the Reference Banks in the London interbank market for such Interest Period, or (b) in the case of a Committed Borrowing, Banks having 50% or more of the aggregate amount of the Commitments advise the Agent that the London Interbank Offered Rate as determined by the Agent will not adequately and fairly reflect the cost to such Banks of funding their Euro-Dollar Loans for such Interest Period, the Agent shall forthwith give notice thereof to the Company and the Banks, whereupon until the Agent notifies the Company that the circumstances giving rise to such suspension no longer exist, (i) the obligations of the Banks to make Euro-Dollar Loans or to convert outstanding Loans into Euro-Dollar Loans shall be suspended and (ii) each outstanding Euro-Dollar Loan shall be converted into a Base Rate Loan on the last day of the then current Interest Period applicable thereto. Unless the Company notifies the Agent by telephone (confirmed in writing) before the date of any Fixed Rate Borrowing for which a Notice of Borrowing has previously been given that it elects not to borrow on such date, thereby revoking such Notice of Borrowing, (i) if such Fixed Rate Borrowing is a Committed Borrowing, such Borrowing shall instead be made as a Base Rate Borrowing, (ii) if such Fixed Rate Borrowing is a Money Market LIBOR Borrowing in U.S. Dollars, the Money Market LIBOR Loans comprising such Borrowing shall bear interest for each day from and including the first day to but excluding the last day of the Interest Period applicable thereto at the Base Rate for such day and (iii) if such Fixed Rate Borrowing is a Money Market LIBOR Borrowing in Canadian Dollars, the Money Market Loans comprising such Borrowing shall bear interest for each day from and including the first day to but excluding the last day of the Interest Period applicable thereto at the Canadian Prime Rate for such day.

  • Reinstatement in Certain Circumstances If at any time any payment of the principal of or interest under the Note or any other amount payable by the Borrower under the Loan Documents is rescinded or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise, the Guarantor’s obligations hereunder with respect to such payment shall be reinstated as though such payment has been due but not made at such time.

  • Unforeseen Circumstances As a rule, the contractor is not entitled to any modification of the contractual terms due to circumstances of which the contracting authority was unaware. A decision of the Belgian State to suspend cooperation with a partner country is deemed to be unforeseeable circumstances within the meaning of this article. Should the Belgian State break off or cease activities which implies therefore the financing of this procurement contract, ▇▇▇▇▇▇ will do everything reasonable to agree a maximum compensation figure.

  • No Remedy in Certain Circumstances Each party agrees that, should any court or other competent authority hold any provision of this Agreement or part hereof or thereof to be null, void or unenforceable, or order any party to take any action inconsistent herewith or not to take any action required herein, the other party shall not be entitled to specific performance of such provision or part hereof or thereof or to any other remedy, including but not limited to money damages, for breach hereof or thereof or of any other provision of this Agreement or part hereof or thereof as a result of such holding or order.