Common use of Request for Modifications Clause in Contracts

Request for Modifications. Either party may propose either Material or Non-material Modifications to any part of the Ultrio 2 Development Program from time to time during the term of this Ultrio 2 Addendum, including without limitation a request for a change to the FTE Labor Rate, as defined in Section 5.2.1. The process applicable to any such proposed modifications shall be as described in this Section 3. Changes, modifications or improvements to the Ultrio 2 Assay Product, after the Completion Date, and the parties’ obligations and rights with respect thereto, are governed by the provisions of Section 4 below. The Project Manager, and under his or her supervision, the project team, will review any proposed modification to the Ultrio 2 Development Program. Any modification which (i) reflects an increase in the actual Ultrio 2 Development Costs incurred that, when aggregated with all previously authorized modifications, of greater than [...***...] over the Development Costs reflected in the original Budget approved in effect as of the date this Ultrio 2 Addendum was executed by the parties, or (ii) contains a proposal to alter any Interim Event as compared to the most recently approved Timeline shall be deemed to be a Material Modification. The Supervisory Board shall review requested changes and make a determination with respect to whether such requested modifications are Material or Non-material Modifications. If the Supervisory Board has met and consulted without resolution, then either party may, in its discretion, determine that the parties have reached an impasse with respect thereto and implement the escalation procedure described in Article 13 of the Agreement to resolve such impasse.

Request for Modifications. Either party may propose either Material or Non-material Modifications to any part of the Ultrio 2 Development Program from time to time during the term of this Ultrio 2 Addendum, including without limitation a request for a change to the FTE Labor Rate, as defined in Section 5.2.1. The process applicable to any such proposed modifications shall be as described in this Section 3. Changes, modifications or improvements to the Ultrio 2 Assay Product, after the Completion Date, and the parties’ obligations and rights with respect thereto, are governed by the provisions of Section 4 below. The Project Manager, and under his or her supervision, the project teamProject Leaders and their respective teams, will review any proposed modification to the Ultrio 2 Development Program; if the two Project Leaders mutually agree in writing that a particular modification is a Material Modification or is a Non-material Modification, then such determination shall be conclusive. Any Unless the two Project Leaders determine to the contrary, any modification which (i) reflects an increase in the actual Ultrio 2 Development Costs incurred that, when aggregated with all previously authorized modifications, of greater than [...***...] over the Development Costs reflected in the original Budget approved in effect as of the date this Ultrio 2 Addendum was executed by the parties, or (ii) contains a proposal to alter any Interim Event as compared to the most recently approved Timeline shall be deemed to be a Material Modification. The If the Project Leaders are unable to agree whether a particular requested modification is a Material or Non-material Modification, then the Supervisory Board shall review the requested changes change and make a determination with respect to whether such requested modifications are modification is a Material or Non-material ModificationsModification. If the Supervisory Board has met and consulted without resolution, then either party may, in its discretion, determine that the parties have reached an impasse with respect thereto and implement the escalation procedure described in Article 13 of the Agreement to resolve such impasse.