Common use of Alternative C Clause in Contracts

Alternative C. Subject to Section 3.2 (Participant’s Termination of Participation Agreement Based on Objection to Change) [optional: and Section 12.2 (Meetings and Responsibilities of Management Committee), HIO may amend, repeal and replace the Policies and Procedures at any time, and shall give Participants notice of such changes not less than [thirty (30)] days prior to the implementation of those changes. However, if the change is required in order for HIO and/or Participants to comply with applicable laws or regulations, HIO may implement the change within a shorter period of time as HIO determines is appropriate under the circumstances. Any such change to the Policies and Procedures shall automatically be incorporated by reference into each Participation Agreement, and be legally binding upon HIO and the Participant, as of the effective date of the change. The other provisions of these Terms and Conditions may be amended only upon the written agreement of HIO and the Participant.26

Alternative C. Subject to Section 3.2 (Participant’s Termination of Participation Agreement Based on Objection to Change) [optional: and Section 12.2 (Meetings and Responsibilities of Management Committee), HIO may amend, repeal and replace the Policies and Procedures at any time, and shall give Participants notice of such changes not less than [thirty (30)] days prior to the implementation of those changes. However, if the change is required in order for HIO and/or Participants to comply with applicable laws or regulations, HIO may implement the change within a shorter period of time as HIO determines is appropriate under the circumstances. Any such change to the Policies and Procedures shall automatically be incorporated by reference into each Participation Agreement, and be legally binding upon HIO and the Participant, as of the effective date of the change. The other provisions of these Terms and Conditions may be amended only upon the written agreement of HIO and the Participant.26Participant.27