Medium Value Change definition

Medium Value Change has the meaning given to it in Part 1 of Schedule 9 (Change Protocol);

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Medium Value Change means a Change requested by the Authority which is not a Low Value Change or a High Value Change;

Medium Value Change means a change to the Services and/or any items of Project Network Parts to be included or removed from the scope of the Project which is not a High Value Change;

Examples of Medium Value Change in a sentence

If the Authority requires a Medium Value Change, it must serve a notice (a Medium Value Change Notice) on the Contractor in accordance with paragraph 2 of this Part 3.
If the Parties cannot agree on the contents of the Estimate, the matter may be referred to the Dispute Resolution Procedure to determine if the Estimate represents a fair and reasonable approach to implementing the Medium Value Change in all respects.
Unless the parties otherwise agree, no changes to the Project Documents shall be made as a result of a Medium Value Change.
Any adjustment to the Annual Service Payment that is necessary due to the implementation of a Medium Value Change shall be calculated in accordance with Section 6 of this Schedule Part 16 (Change Protocol).
Where the Medium Value Change is implemented at the Facilities after the Actual Completion Date [Phase Actual Completion Date], and constitutes additional works, the procedure set out and agreed in the Estimate for certifying the completion of the Medium Value Change shall apply to determine whether the Medium Value Change has been completed appropriately.
In the event that such due diligence is permitted and required, the parties shall agree a budget for the due diligence not exceeding 5% of the overall value of the Medium Value Change in question unless the parties (acting reasonably) agree otherwise.
If the parties cannot agree on the contents of the Estimate, the matter may be referred by either party to the Dispute Resolution Procedure to determine if the Estimate represents a fair and reasonable approach to implementing the Medium Value Change in all respects.
The Contractor shall notify the Authority when it believes the Medium Value Change has been completed.
Where not prohibited by paragraph 12.1 of this Section 3, the Senior Lenders may carry out legal, financial, insurance and/or technical due diligence on any proposal for a Medium Value Change.
Confirmation or Withdrawal of the Medium Value Change Notice As soon as practicable after the contents of the Estimate have been agreed or otherwise determined pursuant to the Dispute Resolution Procedure, the Authority shall: confirm in writing to the Contractor the Estimate (as modified); or withdraw the Medium Value Change Notice.

More Definitions of Medium Value Change

Medium Value Change means a Change, which is not a Minor Change, and which, in the reasonable opinion of the Authority, is likely (if implemented) to result in a net cost or net saving for the Contractor, or a net saving for the Authority, that is less than the greater of one million pounds (£1,000,000) 6 (Indexed) or 27% of the annual Unitary Charge, and which will not increase the likelihood of the Contractor failing to meet the Authority’s Requirements or materially and adversely affect the Contractor's ability to perform its obligations under this Contract;

Medium Value Change means a Change, which is not a Low Value Change, and which, in the reasonable opinion of HPTE, is likely either

Medium Value Change means a Change, which is neither a Minor Change nor a Major Change nor an Administrative Change and which will not increase the likelihood of the Contractor failing to meet the Authority’s Requirements or materially and adversely affect the Contractor’s ability to perform its obligations under this Contract other than as may be necessary pursuant to a Transition Schedule Change;

Medium Value Change as defined in clause 1.1 of the Project Agreement;

Medium Value Change means a Change, which is not a Low Value Change, and which, in the reasonable opinion of the City, is likely to either cost less than EUR 300,000 (indexed) to implement, or require an adjustment to the Services Payment that is less than 1% of the aggregate of the maximum Base Service Fee in the relevant Contract Year (as the case may be);