Material Revision definition

Material Revision means any revision to the Design Drawings and Specifications that would (a) result in a decrease in the aggregate number of guest rooms or suites by five (5) or more, (b) result in a decrease of five percent (5%) or more in the aggregate square footage of any of the following categories of space at the Hotel: (i) all guest rooms and suites, (ii) public space (which shall include the lobby, restaurants, bars, lounges and other public rooms), and (iii) meeting space, and/or (c) be reasonably likely to decrease the value of the Hotel (individually or when aggregated with all other prior Material Revisions and Substantial Changes) in an amount equal to or greater than Eighteen Million Six Hundred Fifteen Thousand Dollars ($18,615,000).
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Material Revision of an Equity Compensation Plan means the following: (i) a material increase in the number of shares available under the plan (other than an increase solely to reflect a reorganization, sub-division of shares, merger, spin-off or similar transaction), (ii) if a plan contains a formula for automatic increases in the shares available or for automatic grants pursuant to a formula, each such increase or grant will be considered a revision requiring consent pursuant to Section 7 unless the plan has a term of not more than ten (10) years (such a plan, a ​ “Formula Plan”), (iii) an expansion of the types of awards available under the plan, (iv) a material expansion of the class of employees, directors or other service providers eligible to participate in the plan, (v) a material extension of the term of the plan, (vi) a material change to the method of determining the strike price of options under the plan, including but not limited to a change in the method of determining “fair market value” from the closing price on the date of grant to the average of the high and low price on the date of grant and (vii) the deletion or limitation of any provision prohibiting repricing of options. Any curtailment, rather than expansion, of the scope of an Equity Compensation Plan is not a Material Revision thereof. Grants pursuant to a Formula Plan are (1) annual grants to directors of restricted stock having a certain dollar value and (2) “matching contributions,” whereby shares are credited to a participant’s account based upon the amount of compensation the participant elects to defer. If a plan contains no limit on the number of shares available and is not a formula plan, then each grant under the plan will be an Equity Compensation Plan regardless of whether the plan has a term of not more than ten (10) years (a “Discretionary Plan”). A requirement that grants be made out of treasury shares or repurchased shares will not, in itself, be considered a limit or pre-established formula so as to prevent a plan from being considered a Discretionary Plan.
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Material Revision has the meaning set forth in Section 5.1(d)(i)(c).
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Examples of Material Revision in a sentence

  • Material Revision Standards A material revision includes, but is not necessarily limited to, any change that would significantly alter a charter school's mission, vision, educational philosophy, educational program, governance, or organizational structure.

  • Material revisions shall take effect on the effective date indicated in the Material Revision agreement.

  • The CSD provides resources to assist charter schools in the preparation of the request for a material revision of an approved charter, including the Request for Material Revision Checklist and FSDRL, available on the CSD page on the LAUSD website.

  • The Material Revision also includes reference to changing locations from year 1 to year 2 to a permanent facility located in Franklin McKinley School District, but does not provide any specifics and it is unclear whether this is still Legacy’s plan.

  • Material Revision to CharterChanges to the charter deemed to be material revisions may not be made without prior approval by the Board of Education.

  • Allow Petitioners and Staff to Present at Board Meetings on Material Revision Items District staff and petitioners will have three minutes each to make a presentation for items placed on discussion.

  • The Charter shall be updated to incorporate the current District Required Language, attached herewith as part of this Material Revision.

  • While the language is not entirely clear in the Material Revision, at the public hearing, Legacy stated that it is requesting to receive a new five year term starting August 2018.

  • In the event of any inconsistency between the Charter and the Material Revision, the language below supersedes the Charter: Court-ordered Integration The Charter School shall comply with all requirements of the Xxxxxxxx v.

  • Change of Agent Circolo LLC • dba Pasqual's Hilldale • 670 N Midvale BlvdNew Agent: Kimberly A.


More Definitions of Material Revision

Material Revision means any revision in the risk retention level, ceded commission rate, ceded premium rate, profit sharing arrangement, or other material term or condition of the Reinsurance Treaty.
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Material Revision has the meaning set forth in Section 0.
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Material Revision has the meaning set forth in Section 5.1(d)(i)(c). “Maximum Premium” means 250% of the last annual premium paid prior to the Effective Time for the Current D&O Insurance. “Merger” has the meaning set forth in the Recitals. “Merger Consideration” has the meaning set forth in Section 1.6(c). “Merger Sub” has the meaning set forth in the preamble. “Merger Sub Board” has the meaning set forth in the Recitals. “Merger Sub Shareholder Approval” has the meaning set forth in Section 3.4(a). “NASDAQ” means the NASDAQ Stock Market. “Notice Period” has the meaning set forth in Section 5.1(d)(ii)(c). “NYSE” means the New York Stock Exchange. “OFAC” has the meaning set forth in Section 2.15(c). “Ordinary Course of Business” means the ordinary course of business consistent in all material respects with past practice (including with respect to volume and frequency). “Owned Real Property” has the meaning set forth in Section 2.9(a). “Owned Intellectual Property Rights” means all Intellectual Property owned or purported to be owned by the Company or any of its Subsidiaries. “Parent” has the meaning set forth in the preamble. “Parent Balance Sheet” means the audited consolidated balance sheet of the Parent as of January 1, 2022. “Parent Board” has the meaning set forth in the Recitals. “Parent Breach Notice Period” has the meaning set forth in Section 7.1(g). “Parent Capital Stock” has the meaning set forth in Section 3.2(a). “Parent Common Stock” has the meaning set forth in the Recitals. “Parent Disclosure Schedule” means the disclosure schedule delivered by the Parent and Merger Sub to the Company and dated as of the date of this Agreement. “Parent Equity Awards” has the meaning set forth in Section 3.2(a).
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Related to Material Revision

  • Material Change means a change that an average, careful investor would want to know about before making an investment decision. If a material change occurs afler you make an investment commitment but before the ORering closes, then the Company will notify you and ask whether you want to invest anyway. If you do not affirmatively choose to invest, then your commitment will be cancelled, your funds will be returned to you, and you will not receive any securities.

  • Material Real Property means any real property owned by any Loan Party with a fair market value in excess of $5,000,000.

  • 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.

  • material relationship means one actually known of a personal, familial or business nature between the Broker and affiliated licensees and a client which would impair their ability to exercise fair judgment relative to another client.

  • industrial research means the planned research or critical investigation aimed at the acquisition of new knowledge and skills for developing new products, processes or services or for bringing about a significant improvement in existing products, processes or services. It comprises the creation of components parts of complex systems, and may include the construction of prototypes in a laboratory environment or in an environment with simulated interfaces to existing systems as well as of pilot lines, when necessary for the industrial research and notably for generic technology validation;

  • Industrial radiography means an examination of the structure of materials by the nondestructive method of utilizing ionizing radiation to make radiographic images.

  • Material Change in Content means the occurrence since the Launch Date of a material change in the content, composition or constitution of the Futures Contract or the Commodity.

  • Substantial Change means a change to the terms of this Agreement that reduces your rights or increases your responsibilities.

  • Adverse impact on visibility means visibility impairment which interferes with the management, protection, preservation or enjoyment of the visi- tor’s visual experience of the Federal Class I area. This determination must be made on a case-by-case basis taking into account the geographic extent, in- tensity, duration, frequency and time of visibility impairment, and how these factors correlate with (1) times of vis- itor use of the Federal Class I area, and(2) the frequency and timing of natural conditions that reduce visibility.

  • material hoist means a hoist used to lower or raise material and equipment, excluding passengers; "medical certificate of fitness" means a certificate contemplated in regulation 7(8);

  • Material Deviation refers to any contents or characteristics of the proposal that is significantly different from an essential aspect or requirement of the RFP, and : (i) substantially alters the scope and quality of the requirements; (ii) limits the rights of UNDP and/or the obligations of the offeror; and (iii) adversely impacts the fairness and principles of the procurement process, such as those that compromise the competitive position of other offerors.

  • Adverse System Impact means a negative effect that compromises the safety or reliability of the electric distribution system or materially affects the quality of electric service provided by the electric distribution company (EDC) to other customers.

  • Campus police officer means a school security officer designated by the board of education of any school district pursuant to K.S.A. 72-6146, and amendments thereto.

  • Consulting Guidelines means the Guidelines on the Use of Consultants by Asian Development Bank and its Borrowers (2010, as amended from time to time);

  • Significant change means a major decline or improvement in the tenant’s status which does not normally resolve itself without further interventions by staff or by implementing standard disease-related clinical interventions that have an impact on the tenant’s mental, physical, or functional health status.

  • Superior Company Proposal has the meaning set forth in Section 6.02(e).

  • Good Engineering Practice means, Works carried out in accordance with the following standards/ specifications,

  • Supervisor means Advisors Asset Management Inc., and its successors in interest, or any successor evaluator appointed as hereinafter provided."

  • Procurement Policy Board or “PPB” shall mean the board established pursuant to Charter § 311 whose function is to establish comprehensive and consistent procurement policies and rules which have broad application throughout the City.

  • Prospective tenant means a tenant or a person who has

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • Demotion means a change from an employee's position to one with a lower maximum salary;

  • municipal spatial development framework means a municipal spatial development framework adopted by the Municipality in terms of Chapter 5 of the Municipal Systems Act;

  • Standards Board means the Professional Standards Board established pursuant to 14 Del.C. §1201.

  • Change of Scope shall have the meaning set forth in Article 13;

  • Potential Change of Control shall be deemed to have occurred if: