Examples of material alterations include:
- A change to any dates existing in the document, including the date of execution, which revises the time frame under which the duties of the contract will be performed. ...
- If the signature of either party is erased or replaced by a new signature. ...
- When the obligations of either party to the other are changed. ...
What is material change in a company?
Material Change means any change in the business, operations, assets, liabilities, ownership or capital of the Issuer and any subsidiary considered on a consolidated basis that would reasonably be expected to have a significant effect on the market price or value of the Issuer’s securities;
What is a material change in a condominium agreement?
The test for what is a “material change” provides some guidance as to what the legislature considered to be fundamental to an agreement of purchase and sale of a condominium such that if that change occurred, the Purchaser was entitled to end the agreement.
What is a material change in a deed?
A change in a description in a deed so that it transfers a smaller piece of land, a change in the name of a purchaser in a sales contract, or an alteration in the terms of financing set forth in a mortgage is also material.
What is material change in Grant?
Material Changes means: a. A change in the structure of the entity that is expected to affect the grant. This includes a change in senior principal officers, Board Members, or key personnel with the potential to affect the completion of grant objectives, except in regard to air districts.
What is an example of material change?
A material change can be a variety of things. Changes to the occupation, operations, etc can be considered material changes. Some examples are: going on an extended holiday, renting out the basement, adding a wood burning fireplace, or doing home renovations.
What does materially changed mean?
Materially Changed means any alteration, modification or replacement made to the existing Facilities that increases the load on the pole or could adversely affect the distribution system.
What is a material change in business?
Material Change. A change in the affairs of a company that is expected to affect the market value of its securities. These changes can include a change in the nature of the business, a change in senior principal officers, or a change in the share ownership of the company.
What are the types of material change?
Chemists make a distinction between two different types of changes that they study—physical changes and chemical changes. Physical changes are changes that do not alter the identity of a substance. Chemical changes are changes that occur when one substance is turned into another substance.
What is a non material change to contract?
Non-Material Changes means, with respect to the terms of any Related Document, waivers, amendments or modifications (a) of such terms that do not, in the aggregate, materially and adversely affect the interests of the Administrative Agent or the Lenders or (b) to the Offer Consideration (as defined in the Offer to ...
What are non material changes?
Non- material amendments are changes that we conisder to be minor and do not significantly change your permission. If the amendments are considered to be material changes they will not be acceptable and you will have to submit a further planning application for a revised scheme and obtain a new planning permission.
Is an address change a material change?
In general, some examples of material changes may include, but are not limited to: A change of address/location or contact information (e.g., phone number, email)
What does material mean in law?
important informationMaterial means important information, generally significant enough to determine an issue. It can be used in the following contexts: In the context of civil procedure, a general issue of material fact refers to an actual, plausible issue of fact that must be decided by a jury or judge.
What is a material change in employment?
Material changes could include, in some circumstances, a change in worksite location, a significant change in job duties or a change in occupational classification, or a reduction in hours from full-time to part-time or a reduction in salary.
What are the 4 types of materials?
Materials are generally split into four main groups: metals, polymers, ceramics, and composites.
Why do materials change?
This is because matter is affected by energy. If a substance absorbs enough energy, atoms, and molecules move around more. The increased kinetic energy can push particles far enough apart that they change form.
What is a material change in real estate?
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.
What is materially mean?
materialy (Late Middle English) Materially; with regard to physical things or characteristics. (rare) With a material existence or form; in a real manner.
What is a material change in employment?
Material changes could include, in some circumstances, a change in worksite location, a significant change in job duties or a change in occupational classification, or a reduction in hours from full-time to part-time or a reduction in salary.
What is a material change in family law?
To change spousal support , decision-making responsibility , parenting time , or parenting arrangements, you must show a material change in circumstances. This means you have to show that your situation has changed so much that your court order needs to be changed.
What is material change in risk?
A material change can be described as “any change material to the risk and within the control and knowledge of the Insured.” Failure to report a material change can have serious implications on your coverage such as a restricting or reducing coverage or voiding coverage altogether.
What happens if you alter an instrument?
If the altered instrument is a contract, then the original contract is void. The nonconsenting party cannot be legally obligated by the new contract since he or she never agreed to it.
What happens when a signature is erased?
However, when a signature that was improperly placed on a document is erased, there is no material alteration since the legal meaning of the document is not changed. Any change in the terms of the instrument that affects the obligations of the parties is material. In a contract to sell land on commission, a change in the rate ...
What is an alteration of an instrument?
Alteration of Instruments. A change in the meaning or language of a legal document, such as a contract, deed, lease, or Commercial Paper, that is made by one party to the document without the consent of the other after it has been signed or completed . If such a change is made by a third party without the consent of either party to the instrument, ...
What is consensual alteration?
Consensual Alteration. A change in an instrument made with the consent of the parties is binding upon them. Such consensual alteration is usually evidenced by the signing by each party of his or her initials and the date that the agreement to the changes to the instrument was reached. West's Encyclopedia of American Law, edition 2.
What is 1060 purging compound?
The 1060 purging compound is said to be most applicable when frequent color and material changes are performed. Purging compounds for caps, closures. It is said to help solve process-related problems with color and material changes and eliminates black specks. Processing compound.
What is a material provision?
The date of an instrument is often considered a material provision when it establishes the time within which the parties to a document must perform their obligations under it. An unauthorized change of date that shortens the time of payment or extends the time of performance so that more interest will become due is a material alteration. ...
How does an instrument change its face?
The face of an instrument is changed by its alteration. A difference in handwriting, a change in words or figures, an erasure, and the striking out of particular words are some methods used to alter an instrument. Since there must be a change in the meaning or language of a document, retracing an original writing—as when a figure written in pencil ...
What does "loading material changes" mean?
Material Changes means any substantial change to any agreement, plan or other document referred to herein, which change would require changes to Developer's permits or approval of the appropriate Government Authorities or is required by Applicable Laws and Regulations.
When did material changes in results of operations end?
Material Changes in Results of Operations for the three-month period ended March 31, 2005 compared to the three-month period ended March 31, 2004. Without the prior written approval of the appropriate Government Authorities, there shall be no Material Changes to the Plans and Specifications subsequent to the initial approval.
What is material change?
The test for what is a “material change” provides some guidance as to what the legislature considered to be fundamental to an agreement of purchase and sale of a condominium such that if that change occurred, the Purchaser was entitled to end the agreement. The legislature did not consider a change in the construction schedule for amenities ...
What court found no fault in the original decision?
The Court of Appeal. The Court of Appeal (ONCA) found no fault in the original decision. With respect to s. 74 (2) of the Act, the ONCA affirmed the lower court’s interpretation.
Did the legislature consider a change in the construction schedule for amenities to be a material change?
The legislature did not consider a change in the construction schedule for amenities to be a material change. Ultimately, the court found that the issues relied upon by the appellant were not sufficient to rescind the APS, and dismissed the appellant’s action, finding in favour of the respondent. The appellant then appealed the decision.
What does "material adverse change" mean?
Here’s it is, as revised: “ Material Adverse Change ” means any Material adverse change in the business, results of operations, assets, liabilities, or financial condition of the Seller.
What does material mean in law?
According to Black’s Law Dictionary, one meaning of material is “of such a nature that knowledge of the item would affect a person’s decision-making process.” (I refer to this as the “affects a decision” meaning.) This meaning is reflected in, for example, the opinion in the most important recent case on material adverse change (or “MAC”) ...
Does Acme have material inaccuracies?
In any given representation, such as Acme’s books and records contain no material inaccuracies, either meaning of material could be intended, and it’s impossible to say which, unless the agreement provides additional guidance. The difference is an important one.
Who is Ken Adams?
Ken Adams is the leading authority on how to say clearly whatever you want to say in a contract. He’s author of A Manual of Style for Contract Drafting, and he offers online and in-person training around the world. He’s also chief content officer of LegalSifter, Inc., a company that combines artificial intelligence and expertise to assist with review of contracts.
Method
Material Changes
- The alteration of an instrument materially changes it. The document no longer reflects the terms that the parties originally intended to serve as the basis of their legal obligation to each other. To be material, the change must affect an important part of the instrument and the rights of the parties to it. Any material alteration relieves the nonc...
Time of Alteration
- A modification in a document before its completion is not an alteration. The parties are bound to review the document and to have agreed upon its terms before executing it. In order for an alteration to nullify the legal effect of an instrument, the change must be made after its completion.
Intention
- A material change must be intentionally made. The motive behind the alteration is unimportant. If a mistake or accident causes a change, this is not considered a material alteration, but the document may be reformed or rescinded.
The Person Making The Change
- The change to the instrument must be made by a party or someone authorized by him or her to do so. No change made by a third person without the consent of either party to the document will invalidate it if its original terms can be learned. When a material alteration is made by a party to commercial paper, such as a check or promissory note, the paper will be enforced as originally …
Consensual Alteration
- A change in an instrument made with the consent of the parties is binding upon them. Such consensual alteration is usually evidenced by the signing by each party of his or her initials and the date that the agreement to the changes to the instrument was reached.