Changing TMC Clause Samples

The 'Changing TMC' clause defines the process and conditions under which the Target Maximum Cost (TMC) in a contract can be modified. Typically, this clause outlines the circumstances that justify a change, such as significant scope adjustments, unforeseen site conditions, or client-requested variations, and details the approval process required for such changes. By establishing a clear mechanism for adjusting the TMC, the clause helps manage financial risk and ensures both parties have a transparent method for addressing cost fluctuations during the project.
Changing TMC. If you cease using the services of your TMC, you may either: (i) request the BTA be closed. Any outstanding amounts on this BTA will require immediate payment. Subject to approval by American Express, you may apply for a BTA for use at your new TMC; or (ii) change your designated TMC by notifying us in the form and manner specified by American Express. From the statement period following such notification, your BTA statement will contain data submitted by the new TMC.
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Changing TMC. If you cease using the services of your TMC, you may either: (i) request the BTA be closed. Any outstanding amounts on this BTA will require immediate payment. Subject to approval by American Express, you may apply for a BTA for use at your new TMC; or (ii) change your designated TMC by notifying us in the form and manner specified by American Express. From the statement period following such notification, your BTA statement will contain data submitted by the new TMC. (c) Use of the BTA (i) Once your request for a BTA has been approved by American Express, we will provide you with a BTA number. We will not issue plastic cards to you or any Account Users for BTA. (ii) The TMC will accept Charges from your Account Users and ▇▇▇▇ them to your BTA. The TMC will prepare appropriate Record of Charge forms (‘ROC’) showing the BTA number quoted by you. (iii) You agree that the BTA will be used for air travel purposes only and in accordance with your policies and procedures. (iv) Cash advances cannot be charged to the BTA. (v) Upon receipt of a ROC, we shall debit or credit the amount of the Charge to your BTA, as appropriate (vi) You agree to be bound by the normal terms and conditions governing the booking of air travel at any TMC. This shall include, but is not limited to the obligation to pay applicable cancellation fees. With respect to the handling of the BTA or of any Charge, the BTA conditions take precedence. (vii) You acknowledge that where TMCs submit Charges to your BTA, certain data may not be captured in your BTA statement. You agree that you may not withhold payment in such instances because of the absence of such data. C: American Express @ Work™
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Related to Changing TMC

  • Offshore Transaction The Purchaser has been advised and acknowledges that in issuing the Purchased Shares to the Purchaser pursuant hereto, the Company is relying upon the exemption from registration provided by Regulation S. The Purchaser is acquiring the Purchased Shares in an offshore transaction in reliance upon the exemption from registration provided by Regulation S.

  • Qualified Institutional Buyer Each Initial Purchaser severally and not jointly represents and warrants to, and agrees with, the Company that it is a "qualified institutional buyer" within the meaning of Rule 144A under the 1933 Act (a "Qualified Institutional Buyer") and an "accredited investor" within the meaning of Rule 501(a) under the 1933 Act (an "Accredited Investor").

  • Acquisition for Own Account Purchaser is acquiring the Shares and the Conversion Shares for Purchaser's own account for investment only, and not with a view towards their distribution.

  • Minimum Extension Requirement If (and only if) the total of the Commitments of the Lenders that have agreed so to extend their Maturity Date (each, an “Extending Lender”) and the additional Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of the Commitments in effect immediately prior to the Applicable Anniversary Date, then, effective as of the Applicable Anniversary Date, the Maturity Date of each Extending Lender and of each Additional Commitment Lender shall be extended to the date falling one year after the most recent Existing Maturity Date (except that, if such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business Day) and each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this Agreement.

  • Qualified Independent Underwriter 7.1. QIU represents that it is qualified to act as a “qualified independent underwriter” within the meaning of Rule 5121 of the Conduct Rules of FINRA. The Company hereby confirms that, at its request, QIU has acted as a “qualified independent underwriter” within the meaning of Rule 5121 of the Conduct Rules of FINRA in connection with the offering of the Public Securities. 7.2. The Company shall pay QIU a fee of $25,000 in consideration for its services and expenses as a “qualified independent underwriter”. QIU will receive no other compensation in connection with the transactions contemplated by this Agreement. 7.3. The Company will indemnify and hold harmless QIU, its directors, officers, employees and agents and each person, if any, who controls QIU within the meaning of Section 15 of the Act or Section 20 of the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which QIU may become subject, under the Act, the Exchange Act, other federal or state statutory law or regulation or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon QIU’s acting (or alleged failing to act) as such “qualified independent underwriter” and will reimburse QIU for any legal or other expenses reasonably incurred by QIU in connection with investigating or defending any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage, liability or expense results from the gross negligence or willful misconduct of QIU. If indemnification pursuant to this Section 7.3 is unavailable to hold harmless QIU for any reason, the Company and QIU agree to contribution in accordance with Section 5.4 above, with the rights and duties of the Underwriters given to QIU. The relative benefits received by QIU with respect to the offering contemplated by this Agreement shall, for purposes of Section 5.4, be deemed to be equal to the fees received by QIU. In addition, notwithstanding the provisions of Section 5.4, QIU shall not be required to contribute any amount in excess of the fees received by QIU in connection with the offering contemplated by this Agreement.