Material Change in Circumstances definition

Material Change in Circumstances means:- (a) a change of law; (b) a change in Railway Group Standards; (c) a change in maintenance and operating procedures and practices, so as to be consistent with good industry practice established throughout a material part of the railway industry; (d) a change to the condition of the Route arising from age (provided always that the Route has been maintained by Network Rail in accordance with the terms of this Agreement) but not from any change in the volume or nature of traffic (other than that of Nexus over and above that contemplated by this Agreement) over the Route; (e) a change in passenger demand for Nexus’s Services; and (f) the issue by the Regulator of criteria regarding the drawing up of possessions regimes relating to the operation of passenger services on the national regulated network such that the possessions regime in this Agreement would not, unless amended, comply to a material extent with such criteria; which in any such case:- (a) has occurred since the later of the Commencement Date and the date of the last review date or will occur or is reasonably likely to occur during the relevant review period; (b) may give rise to:-

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Material Change in Circumstances means:- (a) a material change in the financial amounts referred to in paragraph 18.14(D) (including whether the cost increase factor continues to be appropriate) incurred or reasonably likely to be incurred by Network Rail during the relevant review period as a result of incidents for which Nexus is allocated responsibility

Material Change in Circumstances means a change that substantially affects the financial abilities or needs of the parties and which was not contemplated by the parties at the time of the original award.

Examples of Material Change in Circumstances in a sentence

If a review notice is served within the service period and, following the service of a response notice during the response period, the parties agree, or it is subsequently determined, that there is a Material Change in Circumstances and the changes that should be made to the possessions regime, then the possessions regime in respect of the relevant review period shall be as so agreed or determined and this Schedule 4 shall be amended accordingly.
In the event there is a Material Change in Circumstances which causes a disruption to this balance, it is the responsibility of the Parties, the Wastewater Commission, mediator, and ultimately, the arbitrator to restore the benefits and detriments by not unduly or unfairly burdening one Party over another with either the detriments or the benefits of this relationship.

More Definitions of Material Change in Circumstances

Material Change in Circumstances means the occurrence of any event (other than those events specified as Market Disruption Events in the Final Terms) beyond the control of the Issuer which could make it impracticable or impossible for it to perform its obligations under the Certificates.

Material Change in Circumstances means, in relation to a credit bureau, a change in circumstances set out in this Act or prescribed by the regulations;

Material Change in Circumstances means, in relation to an FX Rate, the occurrence of an event in a relevant jurisdiction beyond the control of any Hedging Party which makes it impossible or not reasonably

Material Change in Circumstances means in relation to the Network Lessee or a Related Entity of the Network Lessee:

Material Change in Circumstances means a change that may relate to the person applying for entry permission or another person included in the application for entry permission.

Material Change in Circumstances means the occurrence of something which, had it been known to the dissolution court at the time of the initial decree, would have persuaded the court to decree differently. Tremain v. Tremain, 264 Neb. 328, 646 N.W.2d 661 (2002).

Material Change in Circumstances means, in relation to a credit bureau, a change in circumstances as prescribed in the regulations;