Amendment Requested by Partners Sample Clauses
The "Amendment Requested by Partners" clause establishes the process by which any partner in an agreement can propose changes or modifications to the existing terms. Typically, this clause outlines the steps required for submitting an amendment request, such as providing written notice to the other partners and specifying the content of the proposed change. It may also detail how approval is granted, often requiring unanimous or majority consent. The core function of this clause is to provide a clear and orderly mechanism for updating the agreement as circumstances change, ensuring that all partners have a formal avenue to address evolving needs or unforeseen issues.
Amendment Requested by Partners. The Partners may direct the Board to amend the Pension Plan Rules, and the Board must so amend the Pension Plan Rules if:
(a) the Partners have first received and considered the advice of the Board respecting both the cost and the administrative impact of implementing the proposed amendment;
(b) the proposed amendment is not inconsistent with Section 11.2, the Trustees’ fiduciary responsibilities or any funding policy adopted by the Board; and
(c) the proposed amendment will not result in the Pension Plan failing to be funded in accordance with the PBSA’s going-concern funding requirements.
Amendment Requested by Partners. The Partners may direct the Board to amend the Retiree Benefit Plan Rules, and the Board must so amend the Retiree Benefit Plan Rules if:
(a) the Partners have first received and considered the advice of the Board respecting both the cost and the administrative impact of implementing the proposed amendment; and
(b) the proposed amendment is not inconsistent with the ELHT Rules or the Trustees’ fiduciary responsibilities.
Amendment Requested by Partners. The Partners, the Professional Employees Association and the Union of Psychiatric Nurses agree that the Partners may direct the Board to amend the Pension Plan Rules, and the Board must so amend the Pension Plan Rules if:
(a) the Partners have first received and considered the advice of the Board respecting both the cost and the administrative impact of implementing the proposed amendment;
(b) the proposed amendment is not inconsistent with Section 11.2, the Trustees’ fiduciary responsibilities or any funding policy adopted by the Board; and
(c) the proposed amendment will not result in the Pension Plan failing to be funded in accordance with Appendix B.