material alteration

noun

  • Business (Corporate) Law/Company Law
  • Contract Law

Definitions of material alteration

  • a serious change to a legal document such as a contract, especially one that changes the rights or duties under that document

    Such cancellation or material alteration to this agreement shall not relieve Sprint of its continuing obligation to maintain insurance coverage in accordance with this Subsection.

  • a change that has a serious effect on something

    If there is a material alteration in the capital structure of the Company, the Stock Option Committee shall make such adjustments to the Plan as it determines to be appropriate under the circumstances.

  • a serious change to a piece of real property (=buildings and land) or to the use of that real property

    A material alteration is broadly defined as a palpable or perceptive change in the use, appearance or function of the common elements or association property.

Phrase Bank for material alteration

  • 87. Effect of material alteration. – Any material alteration of a negotiable instrument renders the same void as against anyone who is a party thereto at the time of making such alteration and does not consent thereto, unless it was made in order to carry out the common intention of the original parties.

  • Thus, by a bare reading of Section 87, it is clear that if a person consents to a material alteration and was a party to it, he later on cannot take advantage of it by claiming that there was a material alteration.

  • A material change of use of itself amounts to material alteration which requires the procurement of a Fire Safety Certificate.

  • The directors, who want the clubhouse type, believe this is not a material alteration requiring a membership vote and that it is a board decision.

  • Except as otherwise provided in this section, there shall be no material alteration or substantial additions to the common elements or to the real property which is association property, except in a manner provided in the declaration as originally recorded or as amended under the procedures provided therein.

  • If the declaration as originally recorded or as amended under the procedures provided therein does not specify the procedure for approval of material alterations or substantial additions, 75 percent of the total voting interests of the association must approve the alterations or additions before the material alterations or substantial additions are commenced.

  • Based on case law, a change to the common elements is considered a material alteration or addition, if the project will “palpably and perceptively vary or change the form, shape, elements or specifications of a building from its original plan or design or existing condition, in such a manner as to appreciably affect or influence its function, use or appearance.”

  • … (gg), the appointment, removal or the making of any material alteration to the terms of employment of the Chief Executive Officer or Chief ..

  • … which is not in the ordinary course of business and without any material interruption or material alteration in the nature, scope or manner of its business and so …

  • In the event that there is a material alteration in the capital structure of the Company on account of a reorganization, merger, capitalization, stock split, reverse …