Permissible Change definition

Permissible Change means any change to the Operating Structure, the Charter of the SH Executive Committee, the DOA or the Equity Compensation Program, as applicable, that is either (i) approved by the Executive, or (ii) required as a result of changes in applicable law; provided that, with respect to a change to the Equity Compensation Program, the Executive shall approve such change unless he anticipates, in his sole and absolute discretion, a material negative impact to the Company’s future performance as a result of such proposed change.
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Examples of Permissible Change in a sentence

  • No election may be made to change the time or form of payment of any distribution under this Plan, or any installment thereof, except for a Permissible Change Election.

  • A Participant may elect to delay the scheduled time for payment of an In-Service Distribution under this paragraph, but only if such election constitutes a Permissible Change Election.

  • Contractor shall not be entitled to an increase in the Contract Sum or payment or compensation of any kind from Owner for costs, expenses or damages, including but not limited to costs of acceleration or inefficiency, arising because of delay, disruption, interference, or hindrance except as expressly provided in a Permissible Change Order.

  • Subject to time extensions resulting from Permissible Change Orders, Contractor shall strictly comply with, and conform to, the Construction Schedule.

  • Owner shall have the right, at any time, to supplement the Drawings and Specifications for the Work with consistent drawings and schedules and, upon doing so, such drawings and schedules shall immediately become part of the Contract Documents with additional payment and time, if any, governed by the Permissible Change Order section.

  • The Contract Sum may only be amended or modified through a Permissible Change Order issued and resolved pursuant to this Agreement.

  • Change its fiscal year or its method of determining fiscal quarters (other than in connection with a Permissible Change of Control).

  • Owner shall not be responsible for paying to Contractor or any subcontractor, sub- subcontractor, laborer or materialman, any sum of money the aggregate of which when combined with all other monies owed or paid by Owner on account of the Work for which Contractor is responsible, would exceed the Contract Sum, as same may be amended by Permissible Change Orders (as defined below) issued and resolved pursuant to this Agreement.

  • If the Borrower gives (or is required to give) the Purchasers notice of a Major Transaction pursuant to Section 5.2(b) that is not a Permissible Change of Control, the Required Purchasers may, by written notice to the Borrower, require the Borrower to prepay the Notes in whole.

  • The provisions of this Article shall be deemed an independent covenant of Contractor and shall be effective with respect to all Work performed and materials or services furnished under any Permissible Change Orders between Owner and Contractor or any other agreement for extra work with respect to the Project.

Related to Permissible Change

  • Rule Change means the changing of fund rules by varying or deleting existing rules and adding new rules.

  • Change in Status means any of the events described below, as well as any other events included under subsequent changes to Code section 125 or regulations issued thereunder, which the Plan Administrator, in its sole discretion and on a uniform and consistent basis, determines are permitted under IRS regulations and under this Plan:

  • Internal Control Event means a material weakness in, or fraud that involves management or other employees who have a significant role in, the Borrower’s internal controls over financial reporting, in each case as described in the Securities Laws.

  • Change of Control Event means the occurrence of an event or series of events whereby one or more Persons, not being the Main Shareholders (or an Affiliate of the Main Shareholders), acting together, acquire control over the Issuer and where "control" means (a) acquiring or controlling, directly or indirectly, more than 50 per cent. of the voting shares of the Issuer, or (b) the right to, directly or indirectly, appoint or remove all or a majority of the directors of the board of directors of the Issuer.

  • Material Change in Formula means the occurrence since the Launch Date of a material change in the formula for, or the method of, calculating the Reference Price.