Material Revision Sample Clauses
A Material Revision clause defines the process and requirements for making significant changes to an agreement or its terms. Typically, this clause specifies what constitutes a 'material' change—such as alterations to pricing, scope of work, or key obligations—and outlines the need for mutual written consent before such changes become effective. Its core practical function is to ensure that both parties are aware of and agree to any major modifications, thereby preventing unilateral changes and reducing the risk of disputes over contract terms.
Material Revision. A “material revision” includes (i) increasing the unit cost of the Products and/or Services to be provided during the Term of this Agreement, or Renewal Term; (ii) substantial reduction in the scope of Products and Services; (iii) substantial expansion of the Products and Services to be provided beyond the Scope of Products and Services authorized by the Board in this Agreement; (iv) extending the time of performance of Services beyond the time period approved by the Board; (v) change or modification to the legal terms and conditions in this Agreement; or (vi) any other shift of the risks and liabilities between the parties. A material revision requires a written amendment to the Agreement approved in advance by the Board, then signed by the authorized representatives of both parties and approved by the Board’s General Counsel.
Material Revision. A “material revision” includes (i) substantially increasing the unit cost of the Services to be provided during the Term of this Agreement, or Renewal Term; (ii) substantial reduction in the scope of Services; (iii) substantial expansion of the Services to be provided beyond the Scope of Services authorized by the Board in this Agreement;
Material Revision. A "material revision" includes (i) increasing the cost of the Products and Services to be provided during the Term of this Agreement, or any Renewal Term; (ii) removal of Products and Services from the Pricing Lists; (iii) addition of Products and Services to the Pricing Lists; (iv) extending the time of performance of Services beyond the time period approved by the Board; or (v) change or modification to the legal terms and conditions in this Agreement; or (vi) any other shift of the risks and liabilities between the parties. A material revision requires a written amendment to the Agreement approved by the Chief Procurement Officer, or in some instances, the Board, and the Board's General Counsel and the authorized representative for Provider.
Material Revision. A “material revision” includes; (i) increasing the cost of the Products and/or Services to be provided during the Term of this Agreement, or Renewal Term, beyond the Maximum Compensation amount, as may be amended; (ii) Increasing the Schedule of Compensation; (iii) substantial reduction in the scope of Products and Services; (iv) substantial expansion of the Products and Services to be provided beyond the Scope of Products and Services authorized by the Board in this Agreement; (v) extending the time of performance of Services beyond the time period approved by the Board; (vi) change or modification to the legal terms and conditions in this Agreement; or (vii) any other shift of the risks and liabilities between the parties. A material revision requires a written amendment to this Agreement approved in advance by the Board, then signed by the authorized representatives of both parties and approved by the Board’s General Counsel.