Material Revision Sample Clauses

A Material Revision clause defines the process and requirements for making significant changes to an agreement or its terms. Typically, this clause specifies what constitutes a 'material' change—such as alterations to pricing, scope of work, or key obligations—and outlines the need for mutual written consent before such changes become effective. Its core practical function is to ensure that both parties are aware of and agree to any major modifications, thereby preventing unilateral changes and reducing the risk of disputes over contract terms.
Material Revision. A “material revision” includes (i) increasing the unit cost of the Products and/or Services to be provided during the Term of this Agreement, or Renewal Term; (ii) substantial reduction in the scope of Products and Services; (iii) substantial expansion of the Products and Services to be provided beyond the Scope of Products and Services authorized by the Board in this Agreement; (iv) extending the time of performance of Services beyond the time period approved by the Board; (v) change or modification to the legal terms and conditions in this Agreement; or (vi) any other shift of the risks and liabilities between the parties. A material revision requires a written amendment to the Agreement approved in advance by the Board, then signed by the authorized representatives of both parties and approved by the Board’s General Counsel.
View SourceView Similar (7)
Material Revision. A “material revision” includes (i) substantially increasing the unit cost of the Services to be provided during the Term of this Agreement, or Renewal Term; (ii) substantial reduction in the scope of Services; (iii) substantial expansion of the Services to be provided beyond the Scope of Services authorized by the Board in this Agreement;
View SourceView Similar (2)
Material Revision. A "material revision" includes (i) increasing the cost of the Products and Services to be provided during the Term of this Agreement, or any Renewal Term; (ii) removal of Products and Services from the Pricing Lists; (iii) addition of Products and Services to the Pricing Lists; (iv) extending the time of performance of Services beyond the time period approved by the Board; or (v) change or modification to the legal terms and conditions in this Agreement; or (vi) any other shift of the risks and liabilities between the parties. A material revision requires a written amendment to the Agreement approved by the Chief Procurement Officer, or in some instances, the Board, and the Board's General Counsel and the authorized representative for Provider.
View Source
Material Revision. A “material revision” includes; (i) increasing the cost of the Products and/or Services to be provided during the Term of this Agreement, or Renewal Term, beyond the Maximum Compensation amount, as may be amended; (ii) Increasing the Schedule of Compensation; (iii) substantial reduction in the scope of Products and Services; (iv) substantial expansion of the Products and Services to be provided beyond the Scope of Products and Services authorized by the Board in this Agreement; (v) extending the time of performance of Services beyond the time period approved by the Board; (vi) change or modification to the legal terms and conditions in this Agreement; or (vii) any other shift of the risks and liabilities between the parties. A material revision requires a written amendment to this Agreement approved in advance by the Board, then signed by the authorized representatives of both parties and approved by the Board’s General Counsel.
View Source

Related to Material Revision

  • Material Change Subsequent to the Execution Time or, if earlier, the dates as of which information is given in the Registration Statement (exclusive of any amendment thereof), the Statutory Prospectus and the Prospectus (exclusive of any amendment or supplement thereto), there shall not have been (1) any change or decrease specified in the letter or letters referred to in paragraph (f) of this Section 6 or (2) any change, or any development involving a prospective change, in or affecting the condition (financial or otherwise), prospects, earnings, business or properties of the Company, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto) the effect of which, in any case referred to in clause (1) or (2) above, is, in the sole judgment of the Representative, so material and adverse as to make it impractical or inadvisable to proceed with the offering or delivery of the Securities as contemplated by the Registration Statement (exclusive of any amendment thereof), the Statutory Prospectus and the Prospectus (exclusive of any amendment or supplement thereto).

  • Material Change in Business Seller shall not make any material change in the nature of its business as carried on at the date hereof.

  • Material Changes Except as contemplated in the Prospectus, or disclosed in the Company’s reports filed with the Commission, there shall not have been any material adverse change in the authorized capital stock of the Company or any Material Adverse Effect or any development that would reasonably be expected to cause a Material Adverse Effect, or a downgrading in or withdrawal of the rating assigned to any of the Company’s securities (other than asset backed securities) by any rating organization or a public announcement by any rating organization that it has under surveillance or review its rating of any of the Company’s securities (other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above, in the reasonable judgment of the Agent (without relieving the Company of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in the Prospectus.

  • Change in Scope of Work Any change in the scope of the Work, method of performance, nature of materials or price thereof, or any other matter materially affecting the performance or nature of the Work shall not be paid for or accepted unless such change, addition, or deletion is approved in advance and in writing by a valid change order executed by the District. Contractor specifically understands, acknowledges, and agrees that the District shall have the right to request any alterations, deviations, reductions, or additions to the Project or Work, and the cost thereof shall be added to or deducted from the amount of the Contract Price by fair and reasonable valuations. Contractor also agrees to provide the District with all information requested to substantiate the cost of the change order and to inform the District whether the Work will be done by the Contractor or a subcontractor. In addition to any other information requested, Contractor shall submit, prior to approval of the change order, its request for a time extension (if any), as well as all information necessary to substantiate its belief that such change will delay the completion of the Work. If Contractor fails to submit its request for a time extension or the necessary supporting information, it shall be deemed to have waived its right to request such extension.

  • No Material Change There has been no material adverse change in the business, operations, financial condition or assets of the Company since the date of the Company's most recent financial statements;