Amendment of master contract Clause Samples

The "Amendment of master contract" clause establishes the procedures and requirements for making changes to the main agreement between the parties. Typically, this clause specifies that any modifications must be made in writing and agreed upon by all signatories, ensuring that verbal agreements or informal changes are not legally binding. Its core function is to provide a clear, formal process for updating the contract, thereby preventing misunderstandings and disputes over unauthorized or ambiguous alterations.
Amendment of master contract. Neither forbearance or delay in repayment granted by the Lender to the Borrower nor any amendment, change or substitution of any terms of the master contract will in any way affect the rights and interests of the Lender under this Contract. Any of the said circumstances will be deemed as having been consented by the Guarantor and the guarantee liability of the Guarantor will not be relieved. Where the Lender issuance letter of credit, bank guarantee or standby letter of credit for the benefit of the Borrower in accordance with the master contract, any amendment to the said letter of credit, bank guarantee or standby letter of credit made by and between the Lender and the Borrower need neither be approved by the Guarantor nor be otherwise informed to the Guarantor. Such amendment will be deemed as having been consented by the Guarantor and the guarantee liability of the Guarantor will not be relieved.
View SourceView Similar (4)
Amendment of master contract. After the Contract becomes effective, the Master Contract may be amended by Party B and Debtor through agreement (including, without limitation, the amendment of repayment currency, repayment method, loan account, repayment account, fund use plan, value date, agreed repayment date, and, without any extension of the term of performance, the amendment to the actual date of occurrence of the obligatory right and expiring date, etc.) without obtaining Party A’s written consent, and Party A shall still bear guaranty liability for the contract amended. However, the extension of the term of performance or the increase of the principal of the obligation by agreement between Party B and Debtor shall obtain the written consent from Party A. If such consent is not obtained, Party A may merely bear guaranty liability to the extent of the scope of the original guaranty. Where the Master Contract is amended by agreement between Party B and the Debtor without actual performance of such amendment, Party A shall still bear guaranty liability.
View Source

Related to Amendment of master contract

  • Amendment of Contract This agreement contains the whole of the agreement between the Company and the Consultant and there are no other warranties, representations, conditions or collateral agreements except as set forth in this agreement. Any modification to this agreement must be in writing and signed by the parties hereto or it shall have no effect and shall be void.

  • Amendment and Supplement Any amendment and supplement of this Agreement shall come into force only after a written agreement is signed by both parties. The amendment and supplement duly executed by both parties shall be part of this Agreement and shall have the same legal effect as this Agreement.

  • Amendment, Modification and Supplement Upon amendment, modification and supplement of this agreement shall be subject to the written agreement executed by each party.

  • Amendment of Material Documents No Loan Party will, nor will it permit any Subsidiary to, amend, modify or waive any of its rights under (a) any agreement relating to any Subordinated Indebtedness, or (b) its charter, articles or certificate of organization or incorporation and bylaws or operating, management or partnership agreement, or other organizational or governing documents, to the extent any such amendment, modification or waiver would be adverse to the Lenders.

  • Amendment of Bidding Documents 10.1 Before the deadline for submission of bids, the Employer may modify the bidding documents by issuing addenda. 10.2 Any addendum thus issued shall be part of the bidding documents and shall be communicated in writing or by cable to all the purchasers of the bidding documents. Prospective bidders shall acknowledge receipt of each addendum by cable to the Employer. 10.3 To give prospective bidders reasonable time in which to take an addendum into account in preparing their bids, the Employer shall extend as necessary the deadline for submission of bids, in accordance with Sub-Clause 20.2 below.