Material Change Orders definition

Material Change Orders means any change orders which (a) reduce the quality of materials or construction below the Existing Standard, (b) departs from the Function Requirements or the Use Requirements, or (c) amends the Construction Contract. In addition, Tenant shall provide to Landlord for its approval, which shall not be unreasonably withheld, any change orders which represent changes in the scope of the project. Landlord will provide its approval (or disapproval with detailed reasons therefor) within 5 business days for a "change of scope" change order, defined as a change order that involves a cost increase or decrease of $250,000 or more, and within 3 business days for all others. Landlord's approval will not be required for field directive changes. Tenant will defend, indemnify and hold Landlord harmless from and against any and all claims, liability and damages arising from its actions as "Owner" under the Construction Contract and warranties.
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Material Change Orders is defined herein to mean any changes to the Plans and Specifications that are not required by law or by governmental authorities with jurisdiction over the Improvements and that do one or more of the following:
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Examples of Material Change Orders in a sentence

  • The Contractor shall be paid the amount approved or adjusted by the County, less five percent (5%) retainage which is being held to assure faithful performance; provided however, that said retainage is not applicable to Time and Material Change Orders.

  • The Contractor shall be paid the amount approved or adjusted by the Owner, less five percent (5%) retainage which is being held to assure faithful performance; provided however, that said retainage is not applicable to Time and Material Change Orders.

  • Final pricing on Time & Material Change Orders must be received within 10 days of completion of the extra work.

  • On the date of each subsequent Advance, Lender shall have approved all Material Change Orders and material changes to any other items delivered in connection with or at all related to the construction at the Premises.

  • Notwithstanding the foregoing, if Buyer has not notified Additional Seller of Buyer's approval or disapproval of any Material Change Orders within three (3) business days following Buyer's receipt of a written request for approval from Additional Seller, Buyer's approval shall be deemed given.

  • Pricing on Time and Material Change Orders will be as follows: Material Actual costs incurred.

  • Lender shall promptly (not more than five (5) Business Days after receipt) review, and approve or disapprove, all submitted Change Orders either identified by Borrower or Manager, or determined by Lender, to be Material Change Orders.

  • Agent shall promptly review all Material Change Orders so submitted, and grant or deny its consent within ten (10) Business Days of Borrower’s request therefor; provided that the request is accompanied by a notice, which provides in upper case bold-faced type: “THIS IS A REQUEST FOR AN APPROVAL OR RATIFICATION, AS THE CASE MAY BE, WITH RESPECT TO A CHANGE ORDER.

  • Change Orders not identified by Borrower as Material Change Orders will initially be reviewed by Lender solely for the purpose of determining whether such Change Order constitutes a Material Change Order.

  • Only those Material Change Orders which have been properly requested by Borrower and fully approved in advance by Borrower, Contractor, municipal and County authorities as applicable, Bank and, if required by the Bank, Bank's Inspecting Consultant, will be included in the monthly disbursement of funds for payment of Work completed and in place at the time of each inspection.