Variation Event definition

Variation Event has the meaning set out in Clause 10.1;
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Variation Event means an event that will have a material impact on the provision of Services, including the cost of providing services that results from a legislative or policy change as further described in clause 9.7 of Appendix 9.
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Variation Event means: any event expressly described as such in this MSA; any Variation issued by Company to Contractor under Clause 10.3; or any breach of this MSA or any act of prevention affecting the Work which is directly attributable to Company or any person authorised, employed or otherwise engaged (including on an agency or consultancy basis) by Company in connection with this MSA, excluding any member of Contractor Group. Notice of a Variation Event Contractor shall promptly give notice to Company of the occurrence of a Variation Event provided that: (i) no notice need be given of a Variation issued by Company under Clause 10.3; and (ii) if Contractor fails to give notice of any other Variation Event within seven (7) days of the occurrence of the same, Contractor shall not be entitled to any extension or allowance of time or to any additional payment of any kind in respect of the relevant Variation Event. Within fifteen (15) days from receipt of a notice under Clause 10.2(a), Company shall either: (i) request Contractor to submit Data in accordance with Clause 10.5(a); or (ii) notify Contractor that Company considers that: (aa) no Variation Event has occurred; (bb) the Variation Event arose from a breach of this MSA by Contractor or any error or omission of any member of Contractor Group; (cc) the Variation Event is at Contractor’s own risk and cost under this MSA; or (dd) the Variation Event has not or will not result in delay or in Contractor incurring additional cost. Company’s Right to Issue a Variation Company shall have the right at any time to issue a Variation to Contractor. Following receipt of a Variation, in relation to which the provisions of Clauses 10.5 and 10.6 shall apply, Contractor shall forthwith commence and continuously proceed with the execution of the Variation until complete in accordance with the provisions of this MSA.
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Examples of Variation Event in a sentence

  • Any such substitution or variation following a Substitution or Variation Event shall only be permitted if it does not result in the Qualifying Notes no longer being eligible for the same, or a higher amount of, “equity credit” (or such other nomenclature that the Relevant Rating Agency may then use to describe the degree to which an instrument exhibits the characteristics of an ordinary share) as is attributed to the Notes on the date notice is given to Noteholders of the substitution or variation.

  • The QCA may give Queensland Rail a written notice requiring it to submit a variation of a Reference Tariff if it has failed to submit a variation of a Reference Tariff under clause 5.1(a)(ii)(A) in respect of an Endorsed Variation Event.

  • The Fiscal Agent shall not be responsible to verify whether a Regulatory Variation Event has occurred or whether the relevant CBIRC Approval has been obtained as required under any event under this Condition 5.

  • Concurrent with the giving of any such Redemption Notice pursuant to the foregoing paragraphs of this Condition 5(b), the Issuer shall deliver to the Fiscal Agent an opinion of reputable legal advisers of recognised standing to the effect that a Regulatory Variation Event has occurred.

  • Upon the occurrence of the Regulatory Variation Event, the Issuer may, subject to and in accordance with any applicable regulatory requirements, having given not less than 30 days’ prior notice to the Bondholders (which notice shall be irrevocable, and with a copy to be provided to the Fiscal Agent), at any time (whether before or following the First Call Date) vary the terms of the Bonds so that they remain or, as the case may be, become, eligible Additional Tier 1 Capital Instruments.

  • Upon the occurrence of the Regulatory Variation Event, the Issuermay, subject to and in accordance with any applicable regulatory requirements, having given not less than 30 days’ prior notice to the Bondholders (which notice shall be irrevocable, and with a copy to be provided to the Fiscal Agent), at any time (whether before or following the First Call Date) vary the terms of the Bonds so that they remain or, as the case may be, become, eligible Additional Tier 1 Capital Instruments.

  • Where the Services are varied or changed, or the cost of providing the Services increases (Variation Event) and the cause of that Variation Event relates to, or is connected with, an event or circumstance beyond our reasonable control, you agree to pay us our additional costs and expenses that we may suffer or incur as result of the Variation Event, as a debt due and immediately payable.

  • Any such instruction shall be a Variation Event and the provisions of Clauses 10.2, 10.5 and 10.6 shall apply.

  • Substitution or Variation Event has the meaning specified in Condition 14.2.Swap Rate means, in relation to a Reset Period and the Reset Determination Date in relation to such Reset Period, the annual mid-swap rate for a term of 5 years as displayed on the Reset Screen Page as at 11:00 a.m. (Brussels time) on such Reset Determination Date.

  • Subject to Clauses 10.5(e), 10.5(f) and 10.5(g), the effect of a Variation Event on the Call-Off Price shall be assessed on the basis of the rates and prices in this MSA.


More Definitions of Variation Event

Variation Event means that the applicable MREL Regulations have been amended to permit an instrument of the Issuer with New Terms and Conditions to be treated as a MREL Eligible Instrument.
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Variation Event means an event that will have a material impact on the provision of Services, including the cost of providing services that results from a legislative or policy change as further described in clause 9.7 of Appendix 9. 14Signatures Signed as an agreement for and on behalf of the Purchasing Agency as follows: Signed by [insert name and title of signatory] Date Signed as an agreement for and on behalf of the Provider as follows: Signed by [insert name and title of signatory] Date 15Appendices – Services, Outcomes to be achieved, and performance measures Outcome (Population)*1 Refer to the Tier One Service Specification available on the Purchasing Agency website at xxxx://xxx.xxxxxx.xxxx.xx/our-work/disability-services/contracting-disability-support-services/contracts-and-service-specifications Indicator (Population) Refer to the Tier One Service Specification*1 available on the Purchasing Agency website at xxxx://xxx.xxxxxx.xxxx.xx/our-work/disability-services/contracting-disability-support-services/contracts-and-service-specifications Service This service will be delivered according to the: Tier One Service Specification; and Tier Two and / or Tier Three Service Specifications*2 for this Service available on the Purchasing Agency website at xxxx://xxx.xxxxxx.xxxx.xx/our-work/disability-services/contracting-disability-support-services/contracts-and-service-specifications Any specific specification terms are annexed to this Agreement as Appendix 11. *1 The Provider is not responsible for achieving the population level Outcome described in the Tier One Service Specification. The Service delivered by the Provider only contributes towards the Population Outcome being achieved. *2 The relevant specification(s) to apply to the Services will be the specifications that relate to the purchase units incorporated in Appendix 5. – Monitoring by the Purchasing Agency Service Monitoring activity Time and frequency of monitoring activity
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Related to Variation Event

  • Termination Event means an Illegality, a Tax Event or a Tax Event Upon Merger or, if specified to be applicable, a Credit Event Upon Merger or an Additional Termination Event.

  • Additional Disruption Event means any of Change in Law, Hedging Disruption and/or Increased Cost of Hedging.

  • Substitution Event means, in respect of a Share, any Nationalization, Insolvency or Delisting in respect of such Share, or any Merger Event or Tender Offer in respect of such Share that is deemed by the Calculation Agent to be a Substitution Event, or an occurrence and continuation for at least eight consecutive applicable Exchange Business Days of a Market Disruption Event in respect of such Share.

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(ii) of the Agreement.

  • Succession Event means an event such as a merger, consolidation, amalgamation, transfer of assets or liabilities, demerger, spin-off or other similar event in which one entity succeeds to the obligations of another entity, whether by operation of law or pursuant to any agreement. Notwithstanding the foregoing, “Succession Event” shall not include an event in which the holders of obligations of the Reference Entity exchange such obligations for the obligations of another entity, unless such exchange occurs in connection with a merger, consolidation, amalgamation, transfer of assets or liabilities, demerger, spin-off or other similar event.

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.

  • Fund Disruption Event means any of the following events, as determined by the Determination Agent in its reasonable discretion: