CHANGES IN CLASS, ETC Sample Clauses

CHANGES IN CLASS, ETC. (a) If, after the date of this Contract, any requirements as to class, to which the construction of the Vessel is required to conform, are altered or changed by the Classification Society, and the classification certificate cannot be obtained without conformity with such alterations or changes, then, any Party (including the Builder) who becomes aware of the change shall forthwith transmit such information in full to the other in writing and then the Builder shall promptly incorporate such alterations or changes into the construction of the Vessel, provided that the Buyer shall first agree to adjustments reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications, if any, caused by the application of such alterations or changes. Such alterations or changes and adjustments shall be confirmed by written agreement between the parties hereto, or by exchange of faxes. Notwithstanding the foregoing provisions, the Buyer may, at its sole discretion first apply to the Classification Society for a formal waiver of compliance with such alterations or changes provided however that the Buyer shall take into account the Builder’s request that the Buyer applies for a waiver. (b) If, after the date of this Contract, any requirements under the rules and regulations other than those of the Classification Society, to which the construction of the Vessel is required in the Specifications to conform, are altered or changed by the regulatory bodies authorized to make such alterations or changes, and the certificates of such regulatory bodies cannot be obtained without conformity with such alterations or changes, then any Party (including the Builder) who becomes aware of the change shall forthwith transmit such information in full to the other in writing and then the Builder shall promptly incorporate such alterations or changes into the construction of the Vessel, provided that the Buyer shall first agree to the adjustment reasonably required by the Seller and/or the Builder in the Contract Price, the Expected Delivery Date, the Guaranteed Speed, the Guaranteed Fuel Consumption, the Guaranteed Deadweight and other terms and conditions of this Contract and the Specifications if any, caused by the application of such alterations or changes. Such alterations or changes and adjustments s...
Sample 1
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CHANGES IN CLASS, ETC. In the event that after the Effective Date of this Contract the requirements of the Classification Society or any other rule or regulations to which the construction of the Vessel is required to conform should be altered or changed from those (a) in effect at the Effective Date or (b) as announced as at the Effective Date as intended thereafter to enter into force, the following provisions shall apply: COMPULSORY CHANGES If such alterations or changes are compulsory for the Vessel, either of the parties hereto, upon receipt of such information from the Classification Society or such other regulatory bodies, shall promptly transmit the same to the other in writing, and the Builder shall thereupon incorporate such alterations or changes into the construction of the Vessel, provided that the Buyer shall first agree to any adjustments reasonably required by the Builder in the Contract Price, the Delivery Date and other terms and
Sample 1
CHANGES IN CLASS, ETC. In the event that after the Effective Date of this Contract the requirements of the Classification Society or any other rule or regulations to which the construction of the Vessel is required to conform should be altered or changed from those (a) in effect at the Effective Date or (b) as announced as at the Effective Date as intended thereafter to enter into force, the following provisions shall apply:
Sample 1

Related to CHANGES IN CLASS, ETC

  • Changes in Classification The regular wage rate of the employee in effect on July 1 and January 1 will determine his entitlement to Group Life and Accidental Death and Dismemberment coverages as outlined in the schedule contained in Exhibit “B”. Where an employee’s regular duties consist of more than one job, his regular rate shall be deemed to be the average of the rates applicable to such jobs.

  • Changes in Control For the duration of the Project Term, the Private Party shall procure that there is no Change in Control in the Private Party (or in any company of which the Private Party is a subsidiary) without the prior written approval of SANParks, which approval shall not be unreasonably withheld, provided that no Change in Control may breach the provisions of Schedule 5 in any way.

  • Changes in Capitalization Subject to any required action by the stockholders of Connetics, the number of shares of Common Stock covered by the Option as well as the Exercise Price shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of Common Stock effected without receipt of consideration by Connetics; provided, however, that conversion of any convertible securities of Connetics shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided in this Option Agreement, no issuance by Connetics of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an Option.

  • Changes in Capital Adequacy Regulations If a Lender determines the amount of capital required or expected to be maintained by such Lender, any Lending Installation of such Lender or any corporation controlling such Lender is increased as a result of a Change, then, within 15 days of demand by such Lender, the Borrower shall pay such Lender the amount necessary to compensate for any shortfall in the rate of return on the portion of such increased capital which such Lender determines is attributable to this Agreement, its Loans or its Commitment to make Loans hereunder (after taking into account such Lender's policies as to capital adequacy). "Change" means (i) any change after the date of this Agreement in the Risk-Based Capital Guidelines or (ii) any adoption of or change in any other law, governmental or quasi-governmental rule, regulation, policy, guideline, interpretation, or directive (whether or not having the force of law) after the date of this Agreement which affects the amount of capital required or expected to be maintained by any Lender or any Lending Installation or any corporation controlling any Lender. "Risk-Based Capital Guidelines" means (i) the risk-based capital guidelines in effect in the United States on the date of this Agreement, including transition rules, and (ii) the corresponding capital regulations promulgated by regulatory authorities outside the United States implementing the July 1988 report of the Basle Committee on Banking Regulation and Supervisory Practices Entitled "International Convergence of Capital Measurements and Capital Standards," including transition rules, and any amendments to such regulations adopted prior to the date of this Agreement.

  • Changes in Condition In the event of any advantageous technical changes and/or downward pricing of the Services during the duration of this Agreement, the Contractor shall notify UNDP immediately. UNDP shall consider the impact of any such event and may request an amendment to the Agreement.

  • Changes in Name, etc Such Grantor will not, except upon 15 days’ prior written notice to the Administrative Agent and delivery to the Administrative Agent of all additional executed financing statements and other documents reasonably requested by the Administrative Agent to maintain the validity, perfection and priority of the security interests provided for herein, (i) change its jurisdiction of organization or the location of its chief executive office or sole place of business or principal residence from that referred to in Section 4.3 or (ii) change its name.

  • Changes in Benefits The Bank shall not make any changes in such plans, benefits or privileges previously described in Section 3(c), (d) and (e) which would adversely affect the Executive's rights or benefits thereunder, unless such change occurs pursuant to a program applicable to all executive officers of the Bank and does not result in a proportionately greater adverse change in the rights of, or benefits to, the Executive as compared with any other executive officer of the Bank. Nothing paid to Executive under any plan or arrangement presently in effect or made available in the future shall be deemed to be in lieu of the salary payable to Executive pursuant to Section 3(a) hereof.

  • New Classifications If a new classification is created within the bargaining unit, the Employer agrees to meet with the Union and negotiate a rate of pay for this new classification. If the parties cannot reach agreement, at the request of either party, the matter shall be submitted to the arbitration procedure in Article 26 of this Agreement.

  • Changes in Capital Stock If, and as often as, there is any change in the capital stock of the Company by way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment shall be made in the provisions hereof so that the rights and privileges granted hereby shall continue as so changed.

  • Adjustments Upon Changes in Capitalization As used herein, the term "Adjustment Event" means an event pursuant to which the outstanding shares of the Company are increased, decreased or changed into, or exchanged for a different number or kind of shares or securities, without receipt of consideration by the Company, through reorganization, merger, recapitalization, reclassification, stock split, reverse stock split, stock dividend, stock consolidation or otherwise. The term "Adjustment Event" shall also mean to include: (i) any issuance by the Company of the Company's securities (excluding securities issued to the Company's employees, directors, consultants and others similarly situtated) below fair market value for such securities as determined at the time of issuance; and (ii) any issuance at a price below the purchase price per Share for the common stock underlying the Options, as adjusted. Upon the occurrence of an Adjustment Event, (i) appropriate and proportionate adjustments shall be made to the number and kind and exercise price for the shares subject to the Options, and (ii) appropriate amendments to this Agreement shall be executed by the Company and the Optionee if the Board of Directors in good faith determines that such an amendment is necessary or desirable to reflect such adjustments. If determined by the Board of Directors to be appropriate, in the event of an Adjustment Event which involves the substitution of securities of a corporation other than the Company, the Board of Directors shall make arrangements for the assumptions by such other corporation of the Options. Notwithstanding the foregoing, any such adjustment to the Options shall be made without change in the total exercise price applicable to the unexercised portion of the Options, but with an appropriate adjustment to the number of shares, kind of shares and exercise price for each share subject to the Options. The good faith determination by the Board of Directors as to what adjustments, amendments or arrangements shall be made pursuant to this Section, and the extent thereof, shall be final and conclusive, provided that the Options herein are adjusted in a manner that is no less favorable than the manner of adjustment used as to any other options issued by the Company to its employees, directors, consultants or in any transaction. No fractional Shares shall be issued on account of any such adjustment or arrangement.

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