Significant Alterations Clause Samples
The Significant Alterations clause defines the rules and procedures for making major changes to a project, product, or agreement. Typically, it outlines what constitutes a 'significant' change—such as modifications that impact cost, scope, or timelines—and may require formal approval or written consent from all parties before such changes are implemented. This clause ensures that all stakeholders are aware of and agree to substantial modifications, thereby preventing misunderstandings and disputes over unauthorized or unexpected changes.
Significant Alterations. In addition to, but not in limitation of, the terms and provisions of Section 3.2(a), any Alterations (or series of related Alterations as part of the same project) to a Property or related Site estimated to cost more than $1,500,000 (as reasonably estimated by Tenant’s architect or engineer), adjusted for inflation (“SIGNIFICANT ALTERATIONS”), may be made by Tenant, at any time and from time to time, at Tenant’s sole expense, from and after the completion of the Initial Construction subject to the requirements set forth in clauses (i) through (v) of this Section 3.2(b).
(i) Tenant shall provide broad form builders risk insurance, on a completed value (or reporting form) basis and general liability insurance, which insurance shall be effected by policies complying with the applicable provisions of Article VII, and shall deliver certificates of insurance to Landlord evidencing such coverage with respect to each Significant Alteration.
(ii) No Significant Alteration shall be undertaken except under the supervision of a licensed architect or licensed professional engineer.
(iii) Prior to the commencement of any Significant Alteration, Tenant shall deliver to Landlord (A) notice of such commencement together with a general description of the scope and estimated cost of such Significant Alteration and (B) at Tenant’s option, either (1) a performance bond and a labor and materials payment bond (issued by a surety company reasonably satisfactory to Landlord and licensed to do business in the State of Florida), each in an amount equal to 100% of the estimated cost, naming Landlord and Tenant as co-obligees, and otherwise in customary form and content, or (2) such other security for the completion of such Significant Alteration as may be reasonably satisfactory to Landlord.
(iv) Prior to the commencement of any Significant Alteration, if required by any Legal Requirement, Tenant shall execute, and record in the land records of the County, a “Notice of Commencement” in accordance with applicable Florida law with respect to such Significant Alteration, and Tenant shall send to Landlord, contemporaneously with the recordation of such Notice of Commencement, a copy thereof.
(v) Promptly after completion of any Significant Alteration, Tenant shall furnish Landlord with (A) if and to the extent that such Property is relocated and/or reconfigured, a final “as built” survey showing the location and configuration of the buildings and improvements on the applicable Site and ...
Significant Alterations. Tenant shall submit to District, for District’s review and approval, plans and specifications, and any amendments thereof, showing in reasonable detail any proposed Significant Alteration not less than sixty (60) days before the proposed commencement of such proposed Significant Alteration in accordance with the provisions of the Agreement. District shall have the right to approve or disapprove such olans and specifications as provided in the Agreement. Any Significant Alteration for which consent has been received shall be performed substantially in accordance with the final plans and specifications provided to District, and no material amendments or material additions to the plans and specifications shall be made without the prior consent of District in accordance with the terms hereof.
Significant Alterations. Tenant shall submit to District, for District’s review and approval, plans and specifications, and any modifications thereof, showing in reasonable detail any proposed Significant Alteration not less than sixty (60) days before the proposed commencement of such proposed Significant Alteration. Within thirty (30) days after District’s receipt of such plans and specifications, District shall notify Tenant of its approval or disapproval thereof. If rejected by District, District shall state in writing with reasonable specificity its basis for its rejection, so as to give Tenant the opportunity to revise such plans and specifications accordingly, if it elects to do so. District may withhold its approval of any Significant Alteration in its sole and absolute discretion. Any Alteration for which consent has been received shall be performed substantially in accordance with the final plans and specifications provided to District, and no material amendments or material additions to the plans and specifications shall be made without the prior consent of District in accordance with the terms hereof. For any Significant Alternations, Tenant and its contractors shall obtain such completion bonds and payment and performance bonds in amounts and in form and substance and from sureties as are acceptable to District in its reasonable discretion.
Significant Alterations. In addition to, but not in limitation of, the terms and provisions of Section 3.2(a), any Alterations (or series of related Alterations as part of the same project) to a Property or related Site estimated to cost more than $1,500,000 (as reasonably estimated by Tenant's architect or engineer), adjusted for inflation ("SIGNIFICANT ALTERATIONS"), may be made by Tenant, at any time and from time to time, at Tenant's sole expense, from and after the completion of the Initial Construction subject to the requirements set forth in clauses (i) through (v) of this Section 3.2(b).