Required Scope Change Approval definition

Required Scope Change Approval means, with respect to each proposed Scope Change, each of the following: (a) the consent of the Construction Consultant, (b) the consent of the Bank Agent, (c) the consent of the FF&E Agent, and, (d) the consent of a majority in principal amount of the holders of the Second Mortgage Notes.
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Required Scope Change Approval means, relative to each proposed Scope Change, the consent of the Administrative Agent.
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Required Scope Change Approval means, with respect to each proposed Scope Change, each of the following: (a) the consent of the Bank Agent (not to be unreasonably withheld), (b) the consent of the Interim Mall Lender (not to be unreasonably withheld), (c) (i) the consent of a majority in principal amount of the holders of the Mortgage Notes or (ii) if the Mortgage Notes are then rated CCC+ or higher by S&P, confirmation by the Rating Agencies that the proposed scope change or change order will not cause a Ratings Downgrade and (d) if the proposed scope change or change order relates to the HVAC Component, the consent of the HVAC Provider.
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Examples of Required Scope Change Approval in a sentence

  • No Scope Changes (as defined in the FADAA) to the Existing Plans and Specifications (as defined in the Loan Commitment Letter) have been made other than Scope Changes to the Existing Plans and Specifications that constitute Safe Harbor Scope Changes (as defined in the FADAA) and/or which do not, under Section 6.2.1 of the FADAA, require the Required Scope Change Approval (as defined in the FADAA).

  • Notwithstanding the provisions of the Take-Out Commitment, Scope Changes to the Existing Plans and Specifications that constitute Safe Harbor Scope Changes (as defined in the FADAA) and/or which do not, under Section 6.2.1 of the FADAA, require the Required Scope Change Approval (as defined in the FADAA) may be made to the Existing Plans and Specifications without TAKE-OUT LENDER's prior written consent.


More Definitions of Required Scope Change Approval

Required Scope Change Approval means, with respect to each proposed Scope Change for any Active Phase, the consent of the Administrative Agent, such consent not to be unreasonably withheld (or, with respect to any Scope Change that will increase the Project Costs by more than $50,000,000 (or that together with all other previously implemented Scope Changes as to which Required Scope Change Approval was required, will increase the Project Costs by more than $150,000,000), the consent of the Requisite Lenders, such consent not to be unreasonably withheld).
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