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My specific question is: if there any possibility to change the Project name using some tags < > in web.xml, if yes so which one?

Otherwise i can't change name of the Project manually, because the...

if you mean to change the name of the Project, it is obvious very very easy, but it will make conflicts with names of other Projects, so the only choice is doing it through web.xml

Hello,

if i use Tomcat 7 as a server, and my Project's name is "Old_Name" so when i want to run my server for this Project the path will be some thing like this:
...