Modification to the Facility Clause Samples

The "Modification to the Facility" clause defines the process and conditions under which changes can be made to the terms, structure, or features of a financial facility, such as a loan or credit agreement. Typically, this clause outlines who has the authority to propose or approve modifications, the procedures for requesting changes, and any limitations or requirements, such as obtaining lender consent or meeting regulatory standards. Its core practical function is to provide a clear and agreed-upon framework for adapting the facility to changing circumstances, thereby reducing uncertainty and potential disputes between the parties.
Modification to the Facility. 11.1 The Facility Owner shall not make, without CEB’s prior consent, any modification or addition to the Facility, which includes modification of connection assets, except where the modification will not increase the maximum electrical output of the Facility. In such case, the Facility Owner shall give the CEB no less than 15 working days’ prior notice before the modification will be made. 11.2 Where the modification will increase the maximum electrical output of the Facility, the Facility Owner shall submit a new application for connection. CEB reserves the right to accept or reject the application. 11.3 If the application is admissible, CEB shall process the application for connection in accordance with Section 5 of this Agreement, the prevailing or other relevant Schemes, if any, and other conditions that will be in force at the time of the new application. 11.4 The Facility Owner shall not commence any modification until all necessary procedures have been duly completed. 11.5 In the event the Facility Owner applies for relocation of the Facility to another location during the lifetime of this Agreement, the request may be entertained subject to a network impact assessment or survey in the area where the Facility will be relocated. 11.6 In respect of the relocation of the Facility, the Facility Owner shall fulfil all required procedures and shall sign an addendum to the Interconnection Agreement, which will last only for the remaining number of years.
View SourceView Similar (5)
Modification to the Facility. 11.1 The Smart City Company shall not make, without CEB’s prior consent, any modification or addition to the Facility, which includes modification of connection assets, except where the modification will not increase the maximum electrical output of the Facility. In such case, the Smart City Company shall give the CEB no less than 15 working days’ prior notice before the modification will be made. 11.2 Where the modification will increase the maximum electrical output of the Facility, the Smart City Company shall submit a new application for connection. CEB reserves the right to accept or reject the application. 11.3 If the application is admissible, CEB shall process the application for connection in accordance with Section 5 of this Agreement, the prevailing or other relevant Schemes, if any, and other conditions that will be in force at the time of the new application. 11.4 The Smart City Company shall not commence any modification until all necessary procedures have been duly completed. 11.5 In the event the Smart City Company applies for relocation of the Facility to another location during the lifetime of this Agreement, the request may be entertained subject to a network survey in the area where the Facility will be relocated. 11.6 In respect of the relocation of the Facility, the Smart City Company shall fulfil all required procedures and shall sign an addendum to the Connection Agreement, which will last only for the remaining number of years.
View Source
Modification to the Facility. 11.1 The Public Sector Entity shall not make, without CEB’s prior consent, any modification or addition to the Facility, which includes modification of connection assets, except where the modification will not increase the maximum electrical output of the Facility. In such case, the Public Sector Entity shall give the CEB no less than 15 working days’ prior notice before the modification will be made. 11.2 Where the modification will increase the maximum electrical output of the Facility, the Public Sector Entity shall submit a new application for connection. CEB reserves the right to accept or reject the application. 11.3 If the application is admissible, CEB shall process the application for connection in accordance with Section 5 of this Agreement, the prevailing or other relevant Schemes, if any, and other conditions that will be in force at the time of the new application. 11.4 The Public Sector Entity shall not commence any modification until all necessary procedures have been duly completed. 11.5 In the event the Public Sector Entity applies for relocation of the Facility to another location during the lifetime of this Agreement, the request may be entertained subject to a network survey in the area where the Facility will be relocated. 11.6 In respect of the relocation of the Facility, the Public Sector Entity shall fulfil all required procedures and shall sign an addendum to the Connection Agreement, which will last only for the remaining number of years.
View Source

Related to Modification to the Facility

  • Modification, etc No modification, amendment or waiver of any provision of this Article, nor the consent to any departure by a Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on a Guarantor in any case shall entitle such Guarantor or any other guarantor to any other or further notice or demand in the same, similar or other circumstances.

  • Modification, Extension The issuance of any supplement, modification, amendment, renewal, or extension to any Letter of Credit shall, for purposes hereof, be treated in all respects the same as the issuance of a new Letter of Credit hereunder.

  • Waiver, Modification, Etc No provision or term of this Amendment may be modified, altered, waived, discharged or terminated orally, but only by an instrument in writing executed by the party against whom such modification, alteration, waiver, discharge or termination is sought to be enforced.

  • ADDITION, DELETION OR MODIFICATION OF FUNDS The Parties hereto may agree, from time to time, to add other Funds to provide additional funding media for the Contracts, or to delete, combine, or modify existing Funds, by amending Schedule A hereto. Upon such amendment to Schedule A, any applicable reference to a Fund, AVIF, or its Shares herein shall include a reference to any such additional Fund. Schedule A, as amended from time to time, is incorporated herein by reference and is a part hereof.

  • Modification; Waiver No provision of this Agreement may be modified, waived or discharged unless modification, waiver or discharge is agreed to in writing signed by the Employee and such officer of the Company as may be specifically designated by its Board of Directors. No waiver by either party at any time of any breach by the other party of, or compliance with, any condition or provision of this Agreement to be performed by such other party will be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.