Changes in Valuation Clause Samples

The "Changes in Valuation" clause defines how adjustments to the assessed value of an asset, property, or investment are handled during the term of an agreement. Typically, this clause outlines the procedures for updating valuations, such as requiring periodic appraisals or allowing for revaluation in response to market changes or specific triggering events. Its core function is to ensure that all parties have a clear and agreed-upon method for addressing fluctuations in value, thereby reducing disputes and maintaining fairness in financial arrangements.
Changes in Valuation. Where, during the term of this Agreement (a) the Union believes that a class is incorrectly valued; or (b) the Corporation revalues an existing class or values a new class covered by this Agreement such matter shall be the subject of discussions between the parties, and failing agreement within sixty (60) calendar days the Union may resolve any dispute relating to the valuation of a class by referring the matter to the next round of collective bargaining between the parties. By mutual agreement the Union and the Corporation may refer a valuation dispute to a third party for final and binding resolution.
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Changes in Valuation. The classification and reclassification process shall not be used to seek changes in valuation to existing positions or classes of positions in the Collective Agreement. Such matters shall be referred and dealt with as part of the next round of collective bargaining unless there is mutual agreement to submit specific disputes to a third party arbitrator.
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Changes in Valuation. Where, during the term of this Agreement (i) the Union believes that a class is incorrectly valued; or (ii) the Employer revalues an existing class or values a new class covered by this Agreement such matter shall be the subject of discussions between the parties, and failing agreement within sixty (60) calendar days the Union may resolve any dispute relating to the valuation of a class by referring the matter to the next round of collective bargaining between the parties. By mutual agreement the Union and the Employer may refer a valuation dispute to a third party for final and binding resolution. In the event that a position or class of positions is reclassified or revalued, the following shall apply: i. In the event a position or class of positions is reclassified upwards, each incumbent shall receive the new rate for the class in all cases where there exists a single rate of pay for the class. In those cases, where there exists a pay range for the class, each incumbent shall be placed on the lowest step of the pay range that exceeds the incumbent’s previous rate. The increment date for each incumbent shall be amended to accord with the effective date of the adjustment. ii. In the event a class of positions is revalued, each incumbent shall receive the new rate for the class in all cases where there exists a single rate of pay for the class. In those cases, where there exists a pay range for the class, each incumbent shall be placed on the same step of the new pay range that the Employee occupied on the old pay range for the class. The increment date for each incumbent shall not be amended. iii. In the event a position or class of positions is reclassified or revalued downwards, the incumbent(s) shall suffer no loss of pay but shall be granted no general increase until the revised rate of pay is reached.
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Changes in Valuation. Where, during the term of this Agreement: (a) the Union believes that a class is incorrectly valued; or (b) the Employer re-values an existing job or values a new job covered by this Agreement; such matter shall be the subject of discussions between the parties, and failing agreement within sixty (60) calendar days the Union may resolve any dispute relating to the valuation of a class by referring the matter to the next round of collective bargaining between the parties.
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Related to Changes in Valuation

  • Changes in Fiscal Periods Permit the fiscal year of the Borrower to end on a day other than December 31 or change the Borrower’s method of determining fiscal quarters.

  • Changes in Business Neither the Borrower nor any of its Subsidiaries will engage in any business if, as a result, the general nature of the business, taken on a consolidated basis, which would then be engaged in by the Borrower and its Subsidiaries, would be substantially changed from the general nature of the business engaged in by the Borrower and its Subsidiaries on the Closing Date.

  • Changes in GAAP If at any time any change in GAAP would affect the computation of any financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.

  • Changes in Fiscal Year Make any change in its fiscal year; provided, however, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

  • Changes in Writing Other than in connection with the addition of additional Subsidiaries, which become parties hereto by executing a supplement hereto in the form attached as Annex I, neither this Guaranty nor any provision hereof may be changed, waived, discharged or terminated orally, but only in writing signed by each of the Guarantors and the Administrative Agent.