Statutory Modifications definition

Statutory Modifications means modifications applicable to the Vessel as a result of changes to any of (i) the rules, regulations and requirements of the Classification Society or (ii) the Mandatory Regulations;
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Examples of Statutory Modifications in a sentence

  • Any sums due to the Builder under Clause 6 as a result of Purchaser's Modifications, Builder’s Requested Changes and/or Statutory Modifications shall be negotiated and agreed as part of the Modifications.

  • Builder shall, if so requested, provide in relation to both Buyer’s Modifications and Statutory Modifications (where the quotations for such Buyer’s Modifications and Statutory Modifications are equal to or in excess of ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Dollars (US$150,000) in value), a breakdown of its quotation, on the basis of a lump sum amount for each of (a) labour costs, (b) engineering and (c) materials and equipment required.

  • Any sums due to either party under Clause 7 as a result of Purchaser's Modifications and/or Statutory Modifications shall be payable upon builder achieving certain milestones and in conjunction with the above payment schedule, and shall be payable on or before the Delivery Date.

Related to Statutory Modifications

  • Material Modifications means and include any modification to an existing RPTs, in aggregate with a related party, having variance of 25% in value of the transaction already approved by the Audit Committee or Board or Shareholders, as the case may be, or such modification as may be decided by the Audit Committee.

  • Minor modification means a modification that does not significantly alter the nongovernmental function or purpose of the software or is of the type customarily provided in the commercial marketplace.

  • Major modification means any physical change in or change in the method of operation of a major stationary source that would result in a significant emissions increase of a regulated NSR pollutant and a significant net emissions increase of that pollutant from the major stationary source.

  • Permitted Modifications As defined in Section 2.02(a) of the Servicing Agreement.

  • Permit modification means a revision to a Title V operating permit that cannot be accomplished under the provisions for administrative permit amendments found at rule 567—22.111(455B). A permit modification for purposes of the acid rain portion of the permit shall be governed by the regulations pertaining to acid rain found at rules 567—22.120(455B) to 567—22.147(455B). This definition of “permit modification” shall be used solely for purposes of this chapter governing Title V operating permits.