AMENDMENT BY PROTOTYPE SPONSOR Sample Clauses
The "Amendment by Prototype Sponsor" clause grants the prototype sponsor the authority to modify or update the terms of the agreement. In practice, this means the sponsor can introduce changes to the contract, such as adjusting project timelines, deliverables, or other key provisions, typically by providing notice to the other party. This clause ensures that the sponsor retains flexibility to adapt the agreement as circumstances evolve, addressing the need for agility in prototype development projects.
AMENDMENT BY PROTOTYPE SPONSOR. The Prototype Sponsor may in its discretion amend the Plan or the Adoption Agreement at any time, subject to the provisions of Article 1 and Section 10.03, and provided that the Prototype Sponsor mails a copy of such amendment to the Employer at its last known address as shown on the books of the Prototype Sponsor.
AMENDMENT BY PROTOTYPE SPONSOR. The Employer has delegated to the Prototype Sponsor the right to amend this Plan Statement (either as to its form or the elections specified in the Adoption Agreement). Although it is intended that this power of amendment will be used principally to assure compliance with applicable provisions of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code as they may be now or hereafter amended, this power of amendment may be exercised for any purpose deemed appropriate by the Prototype Sponsor. Any such amendment shall be effective only upon notice in writing to the Employer. The Employer shall be deemed to have consented to such amendment unless prior to the expiration of thirty (30) days after notice is sent to the Employer, the Employer exercises its reserved power of amendment by adopting a successor retirement plan and funding medium, as provided in Section 9.1.
AMENDMENT BY PROTOTYPE SPONSOR. 54 10.03 AMENDMENTS AFFECTING VESTED AND/OR ACCRUED BENEFITS................55 10.04