Common use of MAJOR CHANGES Clause in Contracts

MAJOR CHANGES. a. A major change will be considered to signify any change affecting the value, duration, activities and results, changes which would call into question the decision to allocate the grant, and also the eligibility of the Promoter, changes to the budget lines of the project, if they do not affect the main objective of the project, and the financial impact exceeds 20% of the amount initially allocated for one eligible expenditure budget line under another eligible expenditure budget line(s) included in the detailed project budget.

Appears in 8 contracts

Samples: Financing Contract, Financing Contract, Financing Contract

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