Material Changes to the CFD Act Clause Samples
The 'Material Changes to the CFD Act' clause defines how significant amendments to the Contracts for Difference (CFD) Act are addressed within an agreement. Typically, this clause outlines the procedures or consequences if the underlying legislation governing CFDs is substantially altered, such as requiring renegotiation of terms, allowing for contract termination, or specifying how new legal requirements will be incorporated. Its core function is to manage legal and regulatory risk by ensuring that both parties are protected and informed in the event of major legislative changes that could impact their contractual obligations.
Material Changes to the CFD Act. If material changes to the CFD Act after the Reference Date make CFD Bonds or Remainder Taxes unavailable or severely impair their use as a source for financing the Qualified Project Costs or Additional Community Facilities, the Agency and Developer will negotiate in good faith as to a substitute public financing program equivalent in nature and function to CFDs.