Approval of Change Orders. Except as provided in this Section 3.15, Borrowers will not amend, alter or change (pursuant to Change Order, amendment or otherwise) the Plans and Specifications, the Loan Budget or any Major Contract unless the same shall have been approved in advance in writing by Lender, by all applicable Governmental Authorities and by each surety under the Payment and Performance Bonds (if required thereunder). Borrowers will provide to Lender upon execution, copies of approved Change Orders with respect to any Major Contract. Notwithstanding the foregoing, Borrowers shall be allowed to make changes in the Plans and Specifications without the consent of Lender upon and subject to all of the following conditions and requirements:
(a) The Change Order is not a Material Change Order;
(b) Until such time as the Project is forty percent (40%) complete as reasonably determined and certified by the Construction Consultant, (i) the combination of (A) Hard Costs paid for by Borrowers out of their own (or an Affiliate’s) funds exclusive of the Loan and (B) Hard Costs paid for out of the Contingency (Hard Costs) Line Item in accordance with the terms of this Agreement, does not exceed 50% of the original amount of the Contingency (Hard Costs) Line Item set forth in the Loan Budget, and/or (ii) the combination of (1) Soft Costs paid for by Borrowers out of their own (or an Affiliate’s) funds exclusive of the Loan and (B) Soft Costs paid for out of the Contingency (Soft Costs) Line Item in accordance with the terms of this Agreement, does not exceed 50% of the original amount of the Contingency (Soft Costs) Line Item set forth in the Loan Budget, it being acknowledged and agreed that this condition shall be deemed null and void once the Project is forty percent (40%) complete as reasonably determined and certified by the Construction Consultant;
(c) Such proposed Change Order, together with all other Change Orders theretofore entered into with respect to the Project, will not increase the guaranteed maximum price of any Major Contract in excess of $2,500,000.00 over the original amount;
(d) Such proposed Change Order will not cause any Line Item in the Loan Budget to be exceeded (after taking into account use of the Contingency Line Items to the extent permitted under Section 3.10 hereof, reallocations under Section 3.9 hereof and any other reallocations approved by Lender in its sole and absolute discretion), unless Borrowers eliminate the Shortfall caused thereby in accordance ...
Approval of Change Orders. To permit no deviations from the Plans and Specifications during construction without the prior written approval of Lender.
Approval of Change Orders. Developer shall not be required to obtain Authority Executive Director approval of any change orders or other revisions or modifications to the Construction Drawings, so long as each change order, revision, or modification is consistent with the approved Basic Concept Drawings does not cause any value engineering not previously authorized by Authority and does not affect materially the design, materials, and architectural quality and integrity of Phase II, except that Developer shall be required to obtain Authority Executive Director approval to the extent such change order, revision, or modification will result in a cost adjustment which, cumulatively with all other change orders, revisions, and modifications, exceeds the amount set forth as the contingency line item in the approved Final Budget for Phase II. Notwithstanding the immediately preceding sentence, Authority shall have the right to review any and all material changes, revisions or modifications to the Construction Drawings and/or any and all material change orders to the Construction Contract with the General Contractor which are approved by Developer.
Approval of Change Orders. Tenant shall not be required to obtain Landlord Executive Director approval of any change orders or other revisions or modifications to the Construction Drawings, so long as each change order, revision, or modification is consistent with the approved Design Development Drawings does not cause any value engineering not previously authorized by Landlord and does not affect materially the design, materials, and architectural quality and integrity of Phase B of the Project, except that Tenant shall be required to obtain Landlord Executive Director approval to the extent such change order, revision, or modification will result in a cost adjustment which, cumulatively with all other change orders, revisions, and modifications, exceeds the amount set forth as the contingency line item in the approved Final Budget for Phase B of the Project. Notwithstanding the immediately preceding sentence, Landlord shall have the right to review any and all material changes, revisions or modifications to the Construction Drawings and/or any and all material change orders to the Construction Contract with the General Contractor for Phase B which are approved by Tenant.
Approval of Change Orders. If permissible by the terms and conditions of this Agreement, Program Manager may request additions to or deletions from the scope of the Project by submitting a change order request to City specifying the basis for any requested change and any requested adjustment to the Guaranteed Maximum Price and the Schedule of Performance occasioned by any such change order request. Change orders that require City Council approval can only be approved at a City Council meeting and shall be presented to the Designated City Representative in final form not less than fourteen (14) days prior to the City Council meeting in order to permit the City to place the change order on the City Council agenda. Before applying any Contingency, Program Manager shall advise City of its intended use and prepare for City’s approval a no cost basis (i.e., no change to the GMP) change order request specifically identifying the proposed use of the Contingency, for which approval shall not be unreasonably withheld by City. The Designated City Representative shall recommend approval of all no-cost basis change orders and City’s Director of Development Services shall have authority to sign and approve all no cost basis change orders.
Approval of Change Orders. To permit no material change orders during construction without the prior approval of Lender and the surety company or companies issuing any Payment and Performance Bonds. For the purposes of this Agreement a material change order shall mean a change order which, when added to any previous change orders, if any, increases the cost of construction by more than $50,000.00 individually or $200,000.00 in the aggregate and/or causes a delay in the Completion Date of more than one (1) month.
Approval of Change Orders. To permit, during the construction of the Improvements, no individual deviation from the Plans and specifications which exceeds $5,000.00, and to permit no multiple deviations which, in the aggregate, exceed $10,000.00, without Lender's prior written approval. Notwithstanding the foregoing, no approval of Lender shall be required in connection with changes requested by a purchaser under an approved Sales Contract provided that the purchaser is required to pay Borrower for the cost of all such changes under the terms of such approved Sales Contract. Regardless of amount, Borrower shall submit all change orders to Lender within five (5) days of the submission thereof to the Contractor.
Approval of Change Orders. To permit no deviations from the Plans and Specifications during construction without the prior approval of Lender and Permanent Lender, except as permitted in Section 4.2 of this Agreement, or in the Permanent Commitment, or in the Tri-Party Agreement.
Approval of Change Orders. To permit, during the construction of the Improvements, no individual deviation from the Plans and Specifications which exceeds $5,000.00 and to permit no multiple deviations which, in the aggregate, exceed $25,000.00, without Lender's prior written approval. Regardless of amount, Borrower shall submit all proposed change orders to Lender within five (5) days.
Approval of Change Orders. Change Orders are contract amendments which required approval of Agency’s expenditure decision authority and procurement authority and may require approval from DAS, OSCIO, or DOJ, or any combination thereof, before the Change Order becomes effective.
