Update of Contracts Clause Samples
The "Update of Contracts" clause establishes the procedures and conditions under which the terms of an existing contract may be modified or amended. Typically, this clause outlines who has the authority to propose changes, the process for obtaining mutual agreement, and any requirements for written documentation of updates. For example, it may require that all amendments be signed by both parties to be valid. Its core practical function is to ensure that any changes to the contract are clearly agreed upon and properly documented, thereby preventing misunderstandings or disputes over the contract’s current terms.
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Update of Contracts. The Acquiring Companies shall have delivered to OPI an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments of the type listed on Exhibit 9.17 and Exhibit 11.17 entered into since the date of this Agreement; and (ii) all other agreements, contracts and commitments related to the businesses or the assets of the Acquiring Companies entered into since the date of this Agreement, together with true, complete and accurate copies of all such documents (the "New Contracts"), attached hereto as Exhibit 8.3(h). OPI shall have had the opportunity to review the Acquiring Companies New Contracts, and OPI shall have the right to delay the Closing for up to ten (10) days if it in its sole discretion deems such delay necessary to enable it to adequately review the Acquiring Companies New Contracts.
Update of Contracts. The parties shall have delivered to each other an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments of the type listed on Exhibits 9.17 and 11.14 entered into since the date of this Agreement; and (ii) all other agreements, contracts and commitments related to the businesses or the assets of the respective parties entered into since the date of this Agreement, together with true, complete and accurate copies of all such documents (the "New Contracts"). Each party shall have had the opportunity to review the New Contracts of the other, and any of the parties shall have the right to delay the Closing for up to ten (10) days if it in its sole discretion deems such delay necessary to enable it to adequately review the New Contracts.
Update of Contracts. Seller and Shareholder shall have delivered to Purchaser an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments of the type listed on Part 4.8 of the Disclosure Schedule entered into since the date of this Agreement (including, but not limited to, amendments, if any, to the items listed on Part 4.8 of the Disclosure Schedule), and (ii) all other agreements, contracts and commitments related to the Business or the Assets entered into since the date of this Agreement, together with true, complete and accurate copies of all documents (or in the case of oral commitments, descriptions of the material terms thereof) relevant to the items on the list (the "New Contracts"). Purchaser shall have the opportunity to review the New Contracts, and shall have the right to delay the Closing for up to five (5) days if it in its sole discretion Purchaser deems such a delay necessary to enable it to adequately review the New Contracts. All of the New Contracts that are approved in writing by Purchaser prior to the Closing, as it may be delayed, (whether such approval by Purchaser is given before or after Seller executes the New Contract) shall be included in the Assets (with no addition to the Purchase Price) and the future obligations of Seller thereunder shall be assumed by Purchaser pursuant to Section 3.2. Any New Contracts that are not approved in writing by Purchaser prior to the Closing, as it may be delayed, shall remain the sole obligation of Seller and shall not be assumed by Purchaser, and Purchaser shall have no obligation or liability with respect thereto.
Update of Contracts. Sierra Norte shall have delivered to PocketSpec an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments entered into since the date of this Agreement; and (ii) all other agreements, contracts and commitments related to the businesses or the assets of Sierra Norte entered into since the date of this Agreement, together with true, complete and accurate copies of all such documents (the "Sierra Norte New Contracts"). PocketSpec shall have had the opportunity to review and approve the Sierra Norte New Contracts of the other, and any of the Companies shall have the right to delay the Closing for up to ten (10) days if it in its sole discretion deems such delay necessary to enable it to adequately review the Sierra Norte New Contracts.
Update of Contracts. 34 10.5 No Material Adverse Information...........................34 10.6
Update of Contracts. RJL shall have delivered to Guardian an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments of the type listed on Exhibit 6.8 entered into since the date of this Agreement; and (ii) all other agreements, contracts and commitments related to the businesses or the assets of RJL entered into since the date of this Agreement, together with true, complete and accurate copies of all such documents (the "RJL New Contracts"). Guardian shall have had the opportunity to review and approve the RJL New Contracts of the other, and any of the Companies shall have the right to delay the Closing for up to ten (10) days if it in its sole discretion deems such delay necessary to enable it to adequately review the RJL New Contracts.
Update of Contracts. The parties shall have delivered to each other an accurate list, as of the Closing Date, showing all agreements, contracts and commitments of the type listed on Exhibits 9.17 and 11.20 entered into since the date of this Agreement (the "New Contracts"); and all true, complete and accurate copies of all New Contracts. Each party shall have had the opportunity to review the New Contracts of the other, and any of the parties shall have the right to delay the Closing for up to ten (10) days if it in its sole discretion deems such delay necessary to enable it to adequately review the New Contracts.
Update of Contracts. BMTS shall have delivered to MedClean an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments of the type listed on Exhibit 9.17 and Exhibit 11.17 entered into since the date of this Agreement; and (ii) all other agreements, contracts and commitments related to the businesses or the assets of BMTS entered into since the date of this Agreement, together with true, complete and accurate copies of all such documents (the "New Contracts"), attached hereto as Exhibit 8.3(h). MedClean shall have had the opportunity to review BMTS New Contracts, and MedClean shall have the right to delay the Closing for up to ten (10) days if it in its sole discretion deems such delay necessary to enable it to adequately review BMTS New Contracts.
Update of Contracts. Vairex shall have delivered to Guardian an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments of the type listed on Exhibit 8.2
Update of Contracts. LynkTel shall have delivered to Baltic an accurate list, as of the Closing Date, showing (i) all agreements, contracts and commitments entered into since the date of this Agreement; and (ii) all other agreements, contracts and commitments related to the businesses or the assets of LynkTel entered into since the date of this Agreement, together with true, complete and accurate copies of all such documents (the "LynkTel New Contracts"). Baltic shall have had the opportunity to review and approve the LynkTel New Contracts, and shall have the right to delay the Closing for up to ten (10) days if it in its sole discretion deems such delay necessary to enable it to adequately review the LynkTel New Contracts.