Modification of Commitments Sample Clauses
The Modification of Commitments clause establishes the conditions and procedures under which the parties to an agreement may alter their existing obligations or promises. Typically, this clause outlines the requirements for making changes, such as requiring written consent from all parties or specifying a formal amendment process. For example, if one party needs to adjust delivery timelines or payment terms, this clause would dictate how such changes can be officially recognized. Its core practical function is to provide a clear and agreed-upon method for updating commitments, thereby preventing disputes and ensuring that all parties are aware of and consent to any modifications.
Modification of Commitments. 1. For a period of 12 months from the date of entry into force of this Agreement, a Member State may adopt any measures or modify any of its reservations made in the Schedule under Article 9 (Reservations) for prospective applications to investors of any other Member States and their investments, provided that such measures or modification shall not adversely affect any existing investors and investments.
2. After the expiration of the period referred to in paragraph 1, a Member State may, by negotiation and agreement with any other Member States to which it made commitments under this Agreement, adopt any measure, or modify or withdraw such commitments and reservations, provided that such measure, modification or withdrawal shall not adversely affect any existing investors or investments.
3. In any such negotiations and agreement referred to in paragraph 2, which may include provisions for compensatory adjustments with respect to other sectors, the Member States concerned shall maintain a general level of reciprocal and mutually advantageous commitments and reservations that is not less favourable to investors and investments than that provided for in this Agreement prior to such negotiations and agreements.
4. Notwithstanding paragraphs 1 and 2, a Member State shall not, under any measure adopted pursuant to this Article after the entry into force of this Agreement, require an investor of any other Member State, by reason of that investors nationality, to sell or otherwise dispose of an investment existing at the time the measure becomes effective, unless otherwise specified in the initial approval by the relevant authorities.
5. Any amendment or modification of the commitments and reservations in accordance with this Article shall be subject to the procedures prescribed in Annex 3 (Procedures for Amendment or Modification of Reservations).
Modification of Commitments. By giving three months written notification to the other Party, a Party may modify its commitments. At the request of the other Party, the modifying Party shall enter into negotiations with a view to reaching agreement on any necessary compensatory adjustment required to maintain a general level of mutually advantageous commitments not less favourable to trade than that provided for in schedules of specific commitments prior to such negotiations. If agreement is not reached, the matter may be referred to arbitration in accordance with Chapter 18.
Modification of Commitments. Any modification or withdrawal of specific commitments under this Chapter shall be made in accordance with Article
Modification of Commitments. The Commitments of the Lenders are revised so that the Total Commitment equals $300,000,000 as of the Effective Date.
Modification of Commitments. A Party may modify or withdraw any commitment in its Schedule (the “modifying Party”) at any time after three years from the date on which that commitment has entered into force, provided that:
Modification of Commitments. 1. For a period of 12 months after the date of submission of each Member State’s reservation list, a Member State may adopt any measures or modify any of its reservations made in the Schedule under Article 9 (Reservations) for prospective applications to investors of any other Member States and their investments, provided that such measures or modification shall not adversely affect any existing investors and investments.
2. After the expiration of the period referred to in paragraph 1, a Member State may, by negotiation and agreement with any other Member States to which it made commitments under this Agreement, adopt any measure, or modify or withdraw such commitments and reservations, provided that such measure, modification or withdrawal shall not adversely affect any existing investors or investments.[7]
3. In any such negotiations and agreement referred to in paragraph 2, which may include provisions for compensatory adjustments with respect to other sectors, the Member States concerned shall not less favourable to investors and investments than that provided for in this Agreement prior to such negotiations and agreements.
4. Notwithstanding paragraphs 1 and 2, a Member State shall not, under any measure adopted pursuant to this Article after the entry into force of this Agreement, require an investor of any other Member State, by reason of that investor’s nationality, to sell or otherwise dispose of an investment existing at the time the measure becomes effective, unless otherwise specified in the initial approval by the relevant authorities.
Modification of Commitments. A Party may modify or withdraw any commitment in its Schedule (the “modifying Party”) at any time after three years from the date on which that commitment has entered into force, provided that: the modifying Party notifies the other Parties as well as the ASEAN Secretariat of its intention to modify or withdraw a commitment no later than three months before the intended date of implementation of the modification or withdrawal; and the modifying Party enters into negotiations with any affected Party to agree to the necessary compensatory adjustment. In achieving a compensatory adjustment, the Parties concerned shall ensure that the general level of mutually advantageous commitment is not less favourable to trade than provided for in the Schedules prior to such negotiations. Any compensatory adjustment pursuant to this Article shall be accorded on a non-discriminatory basis to all Parties. If the Parties concerned are unable to reach an agreement on the compensatory adjustment, the matter shall be resolved by arbitration under Chapter 13 (Consultations and Dispute Settlement). The modifying Party may not modify or withdraw its commitment until it has made compensatory adjustments in conformity with the findings of the arbitration. If the modifying Party implements its proposed modification or withdrawal and does not comply with the findings of the arbitration, any Party that participated in the arbitration may modify or withdraw substantially equivalent benefits in conformity with those findings. Notwithstanding Article 20 (Application and Extension of Commitments), such a modification or withdrawal may be implemented solely with respect to the modifying Party.
Modification of Commitments. 1. Any Party to this Agreement may, by negotiation and agreement with any Party to which it has made a commitment to under this Agreement, modify or withdraw any commitment made under this Agreement.
2. In such negotiations and agreement, which may include provision for compensatory adjustment with respect to other products, the Parties concerned shall maintain a general level of reciprocal and mutually advantageous concessions not less favourable to trade than that provided for in this Agreement prior to such negotiations and agreement.
Modification of Commitments. Any modification or withdrawal of specific commitments under this Chapter shall be made in accordance with Article 171. In the negotiations for such modification or withdrawal, the Parties shall endeavour to maintain a general level of mutually advantageous commitments not less favourable to investment than that provided for in their Schedules of specific commitments in Annex 6 prior to such negotiations.
Modification of Commitments. Subsection (b)(i) of Section 3.2 (Walgreens Commitments) is hereby deleted in its entirety and replaced with the phrase “Intentionally Deleted”.