Amendment of Section 20 Clause Samples
The "Amendment of Section 20" clause establishes the process by which Section 20 of an agreement can be modified or updated. Typically, this clause outlines who has the authority to make changes, the required procedures (such as written consent or mutual agreement), and any limitations or conditions that must be met for an amendment to be valid. For example, it may require both parties to sign a written document to effectuate any changes to Section 20. The core function of this clause is to ensure that any alterations to Section 20 are deliberate, transparent, and agreed upon by all relevant parties, thereby preventing unauthorized or unilateral modifications.
Amendment of Section 20. Section 20 of the Rights Agreement is hereby amended by adding a new Section 20.12 to the end thereof to read in its entirety as follows: “The Rights Agent shall not be subject to, nor be required to comply with, or determine if any person or entity has complied with, the Merger Agreement or any other agreement between or among the parties to the Merger Agreement, even though reference to the Merger Agreement may be made in this Amendment, or to comply with any notice, instruction, direction, request or other communication, paper or document other than as expressly set forth in this Amendment and in the Rights Agreement.”
Amendment of Section 20. (a) Section 20 of the Rights Agreement is hereby amended and restated in its entirety to read as follows:
Amendment of Section 20. In section 20 of the principal Act, for the expression “clauses (a), (b), (d), (f) and (g)”, the expression “clauses (a) and (b)” shall be substituted.
Amendment of Section 20. Section 20(c) of the Agreement is hereby a mended to delete the word “negligence” and replace it in its entirety with “gross negligence”
Amendment of Section 20. Section 20 of the Rights Agreement is hereby amended by replacing Section 20.12 with the following sentence: any person or entity has complied with, the Stock Purchase Agreement or any other agreement between or among the parties to the Stock Purchase Agreement, even though reference to the Stock Purchase Agreement may be made in this Amendment, or to comply with any notice, instruction, direction, request or other communication, paper or document other than as expressly set forth in this Amendment and in the Rights Agreement.”