Permitted Change Order definition

Permitted Change Order. Means change orders to the Design and Build Contract that:
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Permitted Change Order means a change in the Construction Contract and/or the Plans and Specifications (a) that individually does not cause the guaranteed maximum price of the Construction Contract to be increased or decreased by more than $250,000 and, when added to all previous change orders, does not cause such price to be increased or decreased by more than $1,000,000 in the aggregate, (b) that does not result in a material change to the design of the Project, (c) that has been approved in writing by the Architect and/or the Engineer, and any
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Permitted Change Order means any Change Order designated in writing by the Administrative Agent to the Borrower to be non-material to the development, financing, construction, commissioning, management and operation of the Project as determined by the Administrative Agent using its reasonable discretion and acting in consultation with the Technical Agent, provided that, Change Orders contemplating or relating to any of the following shall be automatically designated as material to the development, financing, construction, commissioning and management and operation of the Project, will not be designated as Permitted Change Orders and will require the prior written consent of the Majority Lenders in accordance with Section 13.4(a):
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Examples of Permitted Change Order in a sentence

  • If Lender does not approve, disapprove or request additional information within ten (10) Business Days after receipt of such notice, the proposed change order shall be deemed approved on the eleventh (11th) Business Day thereafter, and such change order shall be deemed, for purposes of this Agreement, a Permitted Change Order.

  • Tenant shall have ten (10) Business Days after receipt of Landlord’s approval within which to withdraw the subject Permitted Change Order Request, TIME BEING OF THE ESSENCE, by written notice to Landlord; if Tenant does not timely give such withdrawal notice, Tenant shall be deemed to have approved Xxxxxxxx’s proposal for the subject Permitted Change Order Request (individually, an “Approved Change Order”, or collectively, “Approved Change Orders”).

  • Any agreement, other than in connection with a Permitted Change Order, which causes a net increase in the Development Budget shall require Lender’s prior written consent.

  • If Tenant and Landlord are unable to agree upon a Change Order which constitutes a Permitted Delay Change Order, either party may submit the necessity or terms of such Permitted Change Order to arbitration pursuant to the rules then obtaining of the American Arbitration Association (“AAA”) and the determination or award rendered by the arbitrator(s) shall be final, conclusive and binding upon the parties and not subject to appeal.

  • If Tenant submits a request to Landlord for a Tenant Requested Change Order that does not constitute a Permitted Change Order Request, Landlord may approve or deny such request as determined by Landlord in its sole and absolute discretion, for any reason or no reason, and the absence of a response from Landlord within the time period provided in Section 6(A)(8)(ii) below shall automatically be deemed a denial.

  • Xxxxxxxx further agrees that Xxxxxx’s approval of any Change Order (including any Permitted Change Order) shall not constitute Lender’s implied consent to the reallocation or use of funds in the Contingency Reserve for the payment of any additional Project Costs arising from such Change Order, it being agreed that Xxxxxxxx’s right to the use or reallocation of funds in the Contingency Reserve shall be governed solely by the provisions of this Section.


More Definitions of Permitted Change Order

Permitted Change Order means a Change Order entered into at a time when no Event of Default exists which satisfies all of the following conditions:
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Permitted Change Order means, with respect to any Construction Property, a change order which does not materially change the Plans for such Construction Property, and either (a) (i) increases the cost amount attributable to the item being changed as shown on the Cost Breakdown for such Construction Property, and (ii) when the amount of such increase is added to the aggregate amount of the increases of all prior Permitted Change Orders which increase the cost thereof, such sum does not exceed 5.0% of the amount of the applicable line item or 5.0% of the aggregate costs shown on such Cost Breakdown or (b) (i) decreases the cost amount attributable to the item being changed as shown on the Cost Breakdown for such Construction Property, and (ii) when the amount of such decrease is added to the aggregate amount of the decreases of all prior Permitted Change Orders for such Construction Property which decrease the cost thereof, such sum does not exceed 5.0% of the amount of the applicable line item or 5.0% of the aggregate costs shown on such Cost Breakdown.
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Permitted Change Order means a change in the Construction Contract and/or the Plans and Specifications (a) that individually does not cause the guaranteed maximum price of the Construction Contract to be increased or decreased by more than $350,000 and, when added to all previous change orders, does not cause such price to be increased or decreased by more than $2,000,000 in the aggregate,
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Permitted Change Order means a Change Order entered into at a time when no Event of Default exists which satisfies all of the following conditions: (i) such Change Order does not change the cost of the Initial Construction Work by more than $100,000 with respect to any individual line item for each individual Change Order or $250,000 in the aggregate of such line items for each individual Change Order, (ii) such Change Order does not increase the time scheduled for completion of the Initial Construction Work or materially modify the scope, quality, functionality, or marketability of the Mortgaged Property after completion of the Initial Construction Work, (iii) if such Change Order increases the cost of the Initial Construction Work and the increased cost exceeds the amount remaining in the Hard Cost Contingency of the Development Budget, Borrower deposits the amount of such increase with Lender prior to execution of the Change Order in question, (iv) such Change Order does not materially adversely affect the structural components of the Mortgaged Property, (v) the total of all Change Orders taken in the aggregate do not exceed fifty percent (50%) of the Hard Cost Contingency, (vi) no portion of the Change Order deletes or reduces the Initial Construction Work in any way (it is not a deductive Change Order in whole or in part) and (v) Borrower provides a copy of such Change Order to Lender promptly after execution of such Change Order.
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Related to Permitted Change Order

  • Change Order means a written order to the Contractor signed by the Contracting Officer, issued after execu- tion of the Contract, authorizing a change in the term or scope of the Contract.

  • Change Orders mean changes or modifications to any Construction Contract or any other contract with labor or material suppliers.

  • Major modification means any physical change in or change in the method of operation of a major stationary source that would result in a significant emissions increase of a regulated NSR pollutant and a significant net emissions increase of that pollutant from the major stationary source.

  • Substantial modification means modification of a relevant source that results in a significant increase in emissions, excluding any change in emissions resulting from by-product recovery. It shall be a matter for the Party to decide whether a modification is substantial or not;

  • Change of Scope Order shall have the meaning set forth in Clause 13.2 (iv); “Completion Certificate” shall have the meaning set forth in Clause 12.2; “Construction” shall have the meaning set forth in Clause 1.2 (f);

  • Permit modification means a revision to a Title V operating permit that cannot be accomplished under the provisions for administrative permit amendments found at rule 567—22.111(455B). A permit modification for purposes of the acid rain portion of the permit shall be governed by the regulations pertaining to acid rain found at rules 567—22.120(455B) to 567—22.147(455B). This definition of “permit modification” shall be used solely for purposes of this chapter governing Title V operating permits.

  • Benchmark Replacement Conforming Changes means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • Permitted Modification shall have the meaning ascribed thereto in Section 4.02.

  • Minor modification means a modification that does not significantly alter the nongovernmental function or purpose of the software or is of the type customarily provided in the commercial marketplace.

  • Project Schedule means a document that, with respect to each Phase of the Project, identifies, coordinates and integrates the anticipated design and construction schedules, the Contracting Authority’s and Owner's responsibilities, government authority reviews and other activities as are necessary for the timely completion of the Work.

  • Reference Interest Rate Replacement Conforming Changes means, with respect to any Reference Interest Rate Replacement, any technical, administrative or operational changes (including changes to the definition of "Interest Period", timing and frequency of determining rates and making payments of interest, changes to the definition of "Corresponding Tenor" solely when such tenor is longer than the Interest Period and other administrative matters) that the Issuer or its designee decides may be appropriate to reflect the adoption of such Reference Interest Rate Replacement in a manner substantially consistent with market practice (or, if the Issuer or its designee decides that adoption of any portion of such market practice is not administratively feasible or if the Issuer or its designee determines that no market practice for use of the Reference Interest Rate Replacement exists, in such other manner as the Issuer or its designee determines is reasonably necessary).

  • Permitted Modifications As defined in Section 2.02(a) of the Servicing Agreement.

  • Scope Change means any change to the scope of a contract to accommodate a need not originally provided for in the contract and which may include the acquisition of additional deliverables or the extension of the term of the contract and which may require an adjustment to the contract price;

  • Construction Change Directive means a written order prepared by Owner Parties and signed by Owner directing Contractor to perform a change in the Work prior to agreeing to a change, if any, to the Contract Time, schedule of performance of the Work, Contract Sum, or Contractor’s compensation.

  • Required Modification shall have the meaning specified in Section 8.1 of the Facility Lease.

  • Unilateral Change Order (ULCO means a Change Order issued by Owner without the complete agreement of Contractor, as to cost and/or time.

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • PAL major modification means, notwithstanding the definitions for major modification and net emissions increase in 326 IAC 2-2-1, any physical change in or change in the method of operation of the PAL source that causes it to emit the PAL pollutant at a level equal to or greater than the PAL.

  • Change Order Request means a written request or proposal for a Change Order submitted by either Company or Contractor and including:

  • construction work permit means a document issued in terms of regulation 3; "contractor" means an employer who performs construction work;

  • Material Modifications means any modifications to the material related party transactions which were approved by the Audit Committee or Shareholders during the year which will change the complete nature of the transaction and in case of monetary thresholds which is in excess of 10% of the originally approved transaction, in case of exigencies only.

  • Contract Modification means any changes in the terms or provisions of the Contract which are reduced to writing and fully executed by both parties.

  • Work Order means an individually negotiated document that is executed by both Parties and which authorizes a Project, if any, in an indefinite quantity Contract.

  • Section 502(b)(10) changes means changes that contravene an express permit term or condition. Such changes do not include changes that would violate applicable requirements or contravene federally enforceable permit terms and conditions that are monitoring (including test methods), recordkeeping, reporting, or compliance certification requirements.

  • Implementation Schedule means the Implementation Schedule in Section VII of the tendering documents.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.