Required Change definition
Examples of Required Change in a sentence
For clarity, LTI shall have no obligation to implement a Client-Specific Required Change unless and until the Parties have reached agreement on all items as described in the preceding sentence.
If during the Term a Change is required to comply with changes in Agreed Standards made by Regulatory Authorities, Applicable Laws and/or other requirements of a Regulatory Authority applicable to LTI Technology (in each case, a “Required Change”), LTI shall promptly notify Client, and following written approval by Client, implement such Required Change and the costs incurred by LTI for such implementation shall be borne by LTI.
In instances where Client is unable to place an order to meet its Minimum Purchase Requirements due to a Required Change or Client Specific Required Change, the Minimum Purchase Requirement shall toll while such changes are implemented and Parties conduct necessary negotiations as set forth in this Section.
If during the Term Client desires LTI to make any Change that is not a Required Change or Client-Specific Required Change pursuant to Section 3.2(c) above (a “Client-Requested Change”), inclusive of changes that may be required for new regulatory submissions in countries other than Designated Countries, Client shall notify LTI thereof in writing.
Prior to implementing a Required Change or a Client-Specific Required Change in accordance with this Section 3.2(c), LTI shall promptly advise Client as to any scheduling and/or Price adjustments which may result from any such Required Change or Client-Specific Required Change, if any.