Common use of Change in Status or Governance Documents Clause in Contracts

Change in Status or Governance Documents. ‌ The Applicant shall not alter its legal status, restructure or reorganize without first obtaining written authorization from the Commission. The Board shall notify the Commission of any modification of the School’s Bylaws within five (5) business days of approval by the Board. Provided, however, that any change in the Bylaws that impacts a material term of this Contract requires written authorization from the Commission. The Board shall notify the Commission of any changes to the Board Roster and Disclosures within five (5) business days of their taking effect and provide an amended Board Roster and Disclosures. If, at any time, the Board fails to operate in accordance with the terms of its Bylaws it shall immediately notify the Commission of that failure.

Change in Status or Governance Documents. ‌ The Applicant shall not alter its legal status, restructure or reorganize without first obtaining written authorization from the Commission. The Board shall notify the Commission of any modification of the School’s Bylaws within five (5) business days of approval by the Board. Provided, however, that any change in the Bylaws that impacts a material term of this Contract requires written authorization from the Commission. The Board shall notify the Commission of any changes to the Board Roster and Disclosures within five (5) business days of their taking effect and provide an amended Board Roster and Disclosures. If, at any time, the Board fails to operate in accordance with the terms of its Bylaws it shall immediately notify the Commission of that failure.