; or (II) from which shareholder equity is reduced by over 10 percent of the value of the title IV revenues received by such proprietary institution of higher education in the prior academic year. (8) Change in circumstances (A) Required redetermination (i) In general In the case of a private non-profit institution of higher education or a proprietary institution of higher education (as defined in section 102(b)) that submits an addendum described in clause (ii) or (iii) to the Secretary, the Secretary shall, not later than 30 days after such addendum is submitted, redetermine whether such institution meets the requirements of this subsection. (ii) Specified circumstances An institution of higher education shall submit an addendum under subsection (b)(6) if, with respect to such institution of higher education, one of the following occurs: (I) The institution is required to pay any material debt, as determined by the Secretary, or incur any material liability, as determined by the Secretary, arising from a final judgment in a judicial proceeding, an administrative proceeding or determination, or settlement. (II) The institution is involved in a lawsuit that is brought on or after the date of the enactment of College Affordability Act by a Federal or State authority for financial relief on claims related to the making of loans under part D of title IV. (III) Such other circumstance the Secretary determines necessary. (iii) Gainful employment determination by Secretary An institution of higher education shall submit an addendum under subsection (b)(6) if the Secretary makes a determination that such institution has programs that could become ineligible under gainful employment (as defined in section 104) in the next award year. (B) Permissible redetermination (i) Redetermination In the case of an institution that submits an addendum under clause (ii), the Secretary may, not later than 30 days after such addendum is submitted, redetermine whether such institution meets the requirements of this subsection. (ii)