Removed Portfolio Clause Samples

The 'Removed Portfolio' clause defines the process and implications when a specific set of assets, contracts, or obligations (the portfolio) is taken out from the scope of an existing agreement. In practice, this clause outlines the steps for identifying which assets are to be removed, the timing of their removal, and any adjustments to payments, responsibilities, or ongoing obligations that result from the change. Its core function is to provide a clear mechanism for both parties to modify the agreement by excluding certain items, thereby ensuring flexibility and reducing the risk of disputes over what remains covered under the contract.