Amendment of Paragraph 4 Clause Samples
The "Amendment of Paragraph 4" clause establishes the process by which changes can be made specifically to Paragraph 4 of the agreement. Typically, this clause outlines who has the authority to propose or approve amendments, and may require that any modifications be made in writing and agreed upon by all relevant parties. Its core function is to provide a clear and formal mechanism for updating or correcting the terms of Paragraph 4, ensuring that any changes are properly documented and mutually accepted, thereby reducing the risk of disputes over unauthorized or informal alterations.
Amendment of Paragraph 4. Existing paragraph 4 is deleted and new paragraph 4 is added, to read as follows:
Amendment of Paragraph 4. Paragraph 4(e) of the Lease is hereby amended to read as follows:
Amendment of Paragraph 4. The following language is hereby added to as Paragraph 4(d) of the Lease:
Amendment of Paragraph 4. Paragraph 4 of the Agreement is amended to clarify that no person, other than NBC, shall have any interest in the Deferred Compensation until distributed as provided in the Agreement, as amended. To the extent that any person acquires a right to receive payments from NBC under the provisions hereof after expiration of all contingencies, such right shall be no greater than the right of any unsecured general creditor of NBC.
Amendment of Paragraph 4. Paragraph 4 of the Supplementary Agreement is hereby deleted in its entirety; provided that M&A's current representatives on the Company's Board of Directors shall be permitted to serve the remainder of their terms.
Amendment of Paragraph 4. C.i of the License Agreement. The first sentence of Paragraph 4.C.i shall be deleted in its entirety and the following shall be inserted in lieu thereof: "PF shall pay to the University one and one half million ($1,500,000) US dollars upon the later of the occurrence of the First Financing or April 30, 2007." Further, in each instance in which the date "October 31, 2006" appears in Paragraph 4.C.i., as provided pursuant to the Second Amendment, such date shall be deleted and "April 30, 2007" shall be inserted in lieu thereof.
Amendment of Paragraph 4. The following language is hereby added to the end of Paragraph 4(a) of the Lease is to read as follows: Tenant's Share of Property Taxes and Operating Expenses shall not include the following: (i) any state, local, federal, personal or corporate income tax measured by the income of Landlord from all sources or from sources other than rent alone; (ii) any estate or inheritance taxes, any franchise, succession, or transfer taxes, or any interest on taxes or any penalties resulting from Land▇▇▇▇'▇ ▇ailure to pay taxes of any kind; (iii) taxes that are separately assessed by government agencies to, and paid by, other tenants of the Building for taxes attributable to tenant improvements or other alterations, additions or improvements made by or for other tenants in the Building; (iv) any increase in excess of a 12% increase in the total of Property Taxes and Assessment Bonds (net of any tax increments received by Landlord) which increase results from a sale of the Building; (v) Landlord's general overhead expenses not related to the Building; (vi) brokerage commissions, legal fees, advertising costs and other related expenses incurred in connection with the leasing of the Building; (vii) repairs, alterations, additions, improvements, or replacements made to correct any defect in the design, materials or workmanship of the Building or common areas or to comply with any requirements of any governmental authority in effect as of the date of this Lease other than as may be required pursuant to Tenant's specific use; (viii) damage and repairs covered under any insurance policy carried by Landlord in connection with the Building; (ix) damage and repairs to the Building necessitated by the negligence or willful misconduct of Landlord or Landlord's employees, contractors or agents; (x) structural repairs or replacements or any improvements, alterations or expenditures of a capital nature; (xi) damage and repairs attributable to condemnation, fire or other casualty; (xii) damage and repairs necessitated by the negligence or willful misconduct of Landlord or Landlord's employees, contractors or agents; (xiii) executive salaries of Landlord; (xiv) salaries of service personnel to the extent that such service personnel perform services not solely in connection with the management, operation, repair or maintenance of the Building or common areas; (xv) Landlord's general overhead expenses not related to the Building; (xvi) payments of principal or interest on any mortgage or...
Amendment of Paragraph 4. The first sentence only of Paragraph 4 of the Exchange Agreement shall be amended to read as follows: The sole contingency regarding the transactions described herein is LDM's ability to arrange financing reasonably satisfactory to LDM for the Four Million Dollars ($4,000,000) to be deposited by LDM to an account in favor of Industrial Machining, or paid by check delivered to Pols▇▇▇▇, ▇▇ Closing.
Amendment of Paragraph 4. 1. Paragraph 4.1 of the Lease is hereby amended to add the following sentences at the end thereof:
Amendment of Paragraph 4 a. Paragraph 4(a) of the Lease is hereby amended to read as follows:
(a) For each calendar year during the term after the year specified in the Basic Lease Information as the Base Year, Tenant shall pay its percentage share, as specified in the Basic Lease Information, of the increase in Property Taxes over Base Property Taxes, and its percentage share of the increase in Operating Expenses for such calendar year over Base Operating Expenses. For the purposes hereof, “Property Taxes” shall mean all real property taxes and assessments or governmentally imposed fees or charges (and any tax levied wholly or partly in lieu thereof) levied, assessed, confirmed or imposed (which for the purposes of defining “Property Taxes” shall include the land underlying the Building), and “Operating Expenses” shall mean: (1) all costs of management, operation, maintenance, and repair of the Building, (2) the cost of all insurance maintained by Landlord with respect to the Building and (3) the share allocable to the Building of dues and assessments payable under any reciprocal easement or common area maintenance agreements or declaration or by any owners’ associations affecting the Building. Notwithstanding the foregoing, the items listed in Exhibit E shall not be included in Operating Expenses. “Base Property Taxes” shall mean those Property Taxes payable during the calendar year which is the Base Year, and “Base Operating Expenses” shall mean Operating Expenses incurred by Landlord during the Base Year. Operating Expenses for both the Base Year and each subsequent calendar year shall be adjusted to equal Landlord’s reasonable estimate of Operating Expenses had the total rentable area of the Building been ninety-five percent (95%) occupied. The foregoing notwithstanding, the annual increase in Operating Expenses that are to be paid by Tenant (excluding increases in insurance, utility charges, and the cost of nonrecurring maintenance work) over the Base Operating Expenses, shall not exceed four percent (4%) per annum, compounded annually.”