Amendment of Paragraph Sample Clauses
The Amendment of Paragraph clause allows for specific sections or paragraphs of an agreement to be formally changed or updated after the original contract has been executed. Typically, this clause outlines the process by which amendments must be proposed, agreed upon, and documented—often requiring written consent from all parties involved. Its core function is to provide a clear and structured method for modifying contractual terms, ensuring that any changes are mutually agreed upon and legally enforceable, thereby preventing misunderstandings or disputes over informal or unauthorized alterations.
Amendment of Paragraph. 11.01. ----------------------------
Paragraph 11.01 of the Stock Purchase Agreement shall be amended and restated to read in its entirety as follows:
11.01 The parties hereto have AGREED that the present management of JCC shall continue to operate the business of JCC, including the business of JMC prior to the merger of JMC into JCC, of providing investment advice and management services to Janus Fund, as hereinafter provided. So long as ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ is a holder of at least 5% of the shares of JCC and continues to be employed as President or Chairman of the Board of JCC and if ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ does not serve as President of JCC, ▇▇▇▇▇ ▇. ▇▇▇▇▇, III serves as President and Chief Executive Officer (or Co-Chief Executive Officer with ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇) of JCC, (i) ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ shall continue to establish and implement policy with respect to the investment advisory and portfolio management activity of JCC, (ii) without ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇'▇ consent, ▇▇▇▇▇▇▇▇ shall not cause JCC to implement, or impose on the management of JCC any policies, conditions or restrictions regarding the policy referred to in (i) other than those which were in place at November 15, 1983, and (iii) any changes in management philosophy, style or approach influencing the management of JCC with respect to the policy referred to in (i) shall be mutually agreed to by ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ and by ▇▇▇▇▇▇▇▇. In furtherance of this objective, so long as ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ is a holder of at least 5% of the shares of JCC and continues to be employed as President or Chairman of the Board of JCC and if ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ does not serve as President of JCC, ▇▇▇▇▇ ▇. ▇▇▇▇▇, III serves as President and Chief Executive Officer (or Co-Chief Executive Officer with ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇) of JCC, ▇▇▇▇▇▇▇▇ agrees to vote its JCC Shares to elect directors of JCC, at least a majority of whom shall be selected by ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, subject to ▇▇▇▇▇▇▇▇'▇ approval, which approval shall not be unreasonably withheld. Each of the preceding provisions set forth in this paragraph is expressly conditioned, however, upon such management and ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ continuing to perform their respective duties with reasonable care and in a manner which is consistent with past practice and not contrary to the best interests of JCC.
Amendment of Paragraph. 3(a). Paragraph 3
(a) of the Amended Agreement (regarding Executive's salary) is hereby amended in its entirety to read as follows:
a. The Company shall pay Executive at an initial base annual salary of $775,000.00, payable bi-weekly. Executive's salary will be reviewed from time to time in accordance with Company's established procedures for adjusting salaries for similarly situated employees. Executive shall also be eligible to participate in the Company's executive bonus plan, as already established by the Company, and as may be amended from time to time in the Company's sole discretion.
Amendment of Paragraph. 11. Paragraph 11 of the Agreement is amended to read as follows:
Amendment of Paragraph. 6(d)(i) – Distributions. Clause (d)(i) of Paragraph 6 shall be amended and restated to read in its entirety as follows:
Amendment of Paragraph. 13 of the Employment Agreement. Paragraph 13 of the Employment Agreement is hereby amended as follows:
(a) Subparagraph 13.a. The phrase "as measured by the preceding ----------------- year's bonus" in subparagraph 13.a. is hereby deleted in its entirety and the following new phrase is substituted therefore in Subparagraph 13.a.: "as measured by Employee's average percentage bonus over the past five years (or such lesser period of time during which Employee was eligible to receive a bonus)."
(b) Subparagraph 13.b. The phrase in Subparagraph 13.b. "averaged ----------------- over the two (2) immediately preceding years" is hereby deleted and replaced with the phrase "as measured by Employee's average percentage bonus over the past five years (or such lesser period of time during which Employee was eligible to receive a bonus)."
(c) Subparagraph 13.c. The word "will" in Subparagraph 13.c is hereby ----------------- deleted and replaced with the word "with," such that the end of Subparagraph 13.c reads "in proportion to shares owned together with all other shareholders."
Amendment of Paragraph. 11(a). Paragraph 11
(a) is amended by:
(A) adding the words “, which in the case of an Event of Default with respect to Party B shall be oral notice to ________at (__) ______ provided that if that person is not available when called or the phone is busy or not answered, Party A shall send a facsimile to that person at (__) ___________, followed by an e-mail notice to that party at the following e-mail address ________________. Facsimilies and e-mails shall be deemed received when the transmitting facsimile or e-mail signals the successful transmission during normal business hours.”
Amendment of Paragraph. 3(a). Paragraph 3(a) is amended by adding at the end the following: "In no event shall a decrease in Property Taxes below the amount of Base Property Taxes, or a decrease in Operating Expenses below the amount of Base Operating Expenses, cause the Base Rent to be reduced."
Amendment of Paragraph. 10(a). Paragraph 10
(a) is hereby amended to read as follows:
(a) If during the term the Premises are totally or partially destroyed, or any other portion of the Building is damaged in such a way that Tenant's use of the Premises is materially interfered with, from a risk which is wholly covered by insurance, then subject to the availability of insurance proceeds Landlord shall proceed with reasonable diligence to repair the damage or destruction and this Lease shall not be terminated; provided, however, that if in the opinion of Landlord's architect the work of repair cannot be completed in 120 days of the date of casualty. Landlord or Tenant may at their election terminate the Lease by notice given to the other party within 30 days following ▇▇▇▇▇▇▇▇'s delivery of the architect's opinion to Tenant."
Amendment of Paragraph. 15. The following language is hereby added to the end of Paragraph 15: "At such time as Tenant establishes a Cash Reserve of $4,000,000, Tenant shall deposit an additional $45,354.20 with Landlord as an increase in the Deposit. At such time as Tenant's Cash Reserve and Tenant's Net Worth each exceeds $6,000,000, as evidenced by audited
Amendment of Paragraph. 11(a). Paragraph 11(a) is amended by inserting, after the words “have occurred hereunder” the following: “provided that the nondefaulting party does not have actual knowledge that the Event of Default has been cured,” and