Change in Regulation Sample Clauses
A Change in Regulation clause defines how the parties will address situations where new laws or regulatory changes impact the agreement. Typically, this clause allows for adjustments to the contract terms, such as pricing or obligations, if compliance with new regulations imposes additional costs or makes performance more difficult. For example, if a government introduces new environmental standards that affect the subject matter of the contract, the parties may renegotiate certain terms. The core function of this clause is to allocate risk and provide a mechanism for adapting the contract to unforeseen legal changes, ensuring that neither party is unfairly disadvantaged by regulatory developments.
POPULAR SAMPLE Copied 1 times
Change in Regulation. If during the Term any governmental authority implements a new regulation or changes its interpretation or enforcement of existing regulations (including any life safety, fire code or other laws or regulations) which necessitates repairs, renovations or other improvements to the Facility (each a “Required Improvement” and collectively, the “Required Improvements”), Tenant shall bear the cost of such Required Improvements up to a maximum of $50,000.00 in any Lease Year. If the cost of the Required Improvements in any Lease Year exceeds $50,000.00, Landlord shall pay the amount exceeding $50,000.00 (such excess, the “Landlord Investment”); provided, however, Tenant shall pay the Annual Yield on the Landlord Investment in accordance with the terms and conditions of Section 3.3 above.
Change in Regulation. All costs associated with a modification made for reasons of a change in regulation shall:
a) if the requirement is applicable solely to the Work (whether or not the Work is defective), be for the account of the Supplier;
b) if the requirement is attributable solely to work done by the Purchaser in its activities, be for the account of the Purchaser;
c) in all other cases the cost sharing (less any sum recovered by the Purchaser from another party) shall be negotiated between the Supplier and the Purchaser on the principle that each Party shall bear its own costs.
Change in Regulation. Any change is made in the laws or regulations of the states of organization or domicile of any Insurance Subsidiary affecting the investment or dividend practices of any Insurance Subsidiary and which would reasonably be expected to result in a Material Adverse Effect.
Change in Regulation. 8.1 If it becomes impossible to implement the Agreement due to amendments of the Broadcasting Act, the Telecommunications Business Act and other relevant laws or regulations or due to changes in the regulations of relevant government agencies including the Korea Communications Commission and the Ministry of Information and Communications, the Parties shall cooperate in good faith and amend the Agreement.
8.2 Celrun and CelrunTV shall cooperate with hanarotelecom in all matters necessary for obtaining a license or approval with respect to the Services, including in circumstances listed in paragraph 8.1.
Change in Regulation. If the existing New Jersey regulations governing the Program are amended, suspended and/or otherwise no longer in force (a “Regulatory Change”), Lender may accelerate the repayment of the unpaid portion of the Loan and accrued interest unless:
(i) Borrower continues to operate the Project in accordance with this Agreement;
(ii) The minimum monetary value of the Project SRECs is the Floor Price, and the terms in this Agreement governing the amortization of the Loan and payment of all accrued interest remain in full force and effect; and
(iii) The BPU continues to allow Lender to enjoy the comparable treatment, as described more fully in Section 2.9(a) above, with regard to those Projects in operation and creating SRECs after the Regulatory Change as Lender enjoyed prior to the Regulatory Change.
Change in Regulation. Any change is made in the Michigan or Illinois Insurance Code or the Code affecting the investment or dividend practices of PICOM or PICOM-III. and which results or which may be reasonably expected to result in a Material Adverse Effect.
Change in Regulation. The foregoing requirements contained in this Article 12 shall no longer apply or be effective in the event that (1) such provisions are no longer required in order to comply with the ownership criteria applicable to qualifying facilities under PURPA, and the rules, regulations and orders issued thereunder by the FERC; and (2) the Partnership is no longer required to maintain its status as a qualifying facility (i) under the express terms of any agreement to which the Partnership or either of the Project Partnerships is a party; (ii) in order to avoid any material adverse effect under any agreement to which the Partnership or Project Partnerships is a party; and (iii) in order to be eligible for exemption from the Public Utility Holding Company Act of 1935, as amended, and from the financial, organizational or rate regulations imposed upon electric utilities, public utilities or similar entities by any governmental authority.