Material Variations definition
Examples of Material Variations in a sentence
Upon notification of a proposed Material Variation, the Parties shall in good faith discuss the proposed Material Variations through the JSC, with each Party considering other one’s reasonable input.
Notwithstanding the provisions of Clause 10.1 (Material Variations) or this Clause 10.2, on or after the occurrence of a Senior Event of Default, the Senior Agent and/or the Senior Lenders shall be entitled to agree to any amendment, supplement or novation to the Senior Documents without prejudicing the priority created thereby.
Material Variations includes but are not limited to the following: changes to the product labeling related to efficacy or safety, changing or adding a manufacturing site, adding a new manufacturing step, changing the formulation of the Product, changing the specification of the Product, changing the primary packaging, changing storage conditions, changing the API manufacturer, or changing of the manufacturing process.
LIABILITIES It is hereby understood that any breach of the provisions of Clause 10.1 (Material Variations) shall result in any increased principal amount of the Senior Liabilities being ranked, for all purposes of this Deed and the Security Documents, behind the Mezzanine Liabilities.
The costs of Material Variations in the Excluded Territory shall be borne by ArQule and in the Territory shall be borne by Basilea.