The "Modification of Agreement" clause stipulates the conditions and procedures for making changes or amendments to the original contract. It often requires written consent from all parties involved to ensure any modifications are officially recognized and enforceable.
Modification of Agreement and Plan of Merger, dated as of July 21, 2017 by and among Hartman Short Term Income Properties XX, Inc., and Hartman Short Term Income Properties XIX, Inc. and Extension of Agreement and Modification of Agreement and Plan of Merger, dated as of July 21, 2017, by and among Hartman Short Term Income Properties XX, Inc., Hartman Income REIT, Inc., HARTMAN XX Limited Partnership and Hartman Income REIT Operating Partnership, L.P. to extend the Outside Date from December 31, 2017 to September 30, 2018. (incorporated by reference to Form 8-K filed on January 29, 2018, commission file No. 000-53912)
No Modification of Agreement. The Administrative Services Agreement dated January 1, 2000, as amended, (the “Agreement”) is hereby incorporated by reference. Nothing in this Amendment shall be deemed to modify, alter, negate, supersede or otherwise change in any manner or form any provision of the Agreement, except as may be specifically set forth herein.
MODIFICATION OF AGREEMENT No modification of this Agreement shall be valid unless in writing and executed by both Parties.
Modification of Agreement 19.Any amendment or modification of this Agreement or additional obligation assumed by either Party in connection with this Agreement will only be binding if evidenced in writing signed by each Party or an authorized representative of each Party.
Modification of Agreement: This Agreement may be amended or modified in any way at any time by an instrument in writing stating the manner in which it is amended or modified and signed by each of the parties hereto. Any such writing amending or modifying this Agreement shall be attached to and kept with this Agreement.
Modification of Agreement 1. Modification to this Agreement may only be made by the written consent of each party. 2.A written document setting forth the modification as agreed upon in accordance with paragraph 1 shall be attached to the end of this Agreement.
Assignment; Modification of Agreement. This Agreement will inure to the benefit of the Bank and any successors and assigns. Any successor of the Bank will continue the terms and conditions of this Agreement. You may not assign your rights, duties or obligations under this Agreement. None of the terms of this Agreement may be changed or modified except in a writing signed by both you and the Bank.
MODIFICATION OF AGREEMENT Any amendment or modification of this Agreement or additional obligation assumed by either party in connection with this Agreement will only be binding if evidenced in writing signed by each party or an authorized representative of each party.
Modification of Agreement 13. Any amendment or modification ofthis Agreement or additional obligation assumed b either Party in connection with this Agreement will only be binding if evidenced in writing signed by both Parties or an authorized representative of each Party.
Modification of Agreement 20. Any amendment or modification of this Agreement or additional obligation assumed by either Party in connection with this Agreement will only be binding if evidenced in writing signed by each Party or an authorized representative of each Party.
No Modification of Agreement; Agreement Ratified. Nothing contained in this Agreement shall be construed to (a) modify, waive, impair or affect any of the provisions, covenants, agreements, terms or conditions contained in the BDC Consulting Agreement, (b) waive any present or future breach or default under the BDC Consulting Agreement or any rights of BDC against any person, firm, association or corporation liable or responsible for the performance of the BDC Consulting Agreement , or (c) enlarge or increase BDC’s obligations or Assignor or Assignee under the BDC Consulting Agreement or otherwise; and all provisions, covenants, agreements, terms and conditions of the BDC Consulting Agreement are hereby declared by Assignor and Assignee to be in full force and effect.
Section 14. Modification of Agreement Any amendment or modification of this Agreement or additional obligation assumed by either party in connection with this Agreement will only be binding if evidenced in writing signed by each party or an authorized representative of each party.
Modification of Agreement. This Agreement may be modified, amended, suspended, or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties.
During the performance of this Agreement, where either party needs to modify this Agreement under special circumstances, the party requiring such a modification shall notify the other party in writing in time, and after obtaining the consent of the other party, both parties shall sign a written agreement on the modification, which shall be an integral part of this Agreement. Without written documents signed by both parties, neither party has the right to modify this Agreement; otherwise, the economic losses incurred to the other party shall be borne by the responsible party.
Modification of Agreement This Agreement may be modified, amended, suspended, or terminated, and any terms or conditions may be waived, but only by mutual agreement of the parties in writing except as otherwise provided in Section 16 of the Plan.
A Modification of Agreement refers to any negotiated change to the original terms of a contract. Modifications can arise due to evolving circumstances, the need for clarification, or mutual desire to adjust the terms initially agreed upon. This process ensures that the contract remains relevant and accurately reflects the intentions and responsibilities of the involved parties.
You should consider using a modification of agreement in the following scenarios:
Changed Circumstances: When there are significant changes in circumstances that impact the ability of either party to fulfill their contractual obligations.
Clarification Needs: If any section of the contract is ambiguous or results in conflicting interpretations, modifications can provide clarity.
Mutual Agreement: When both parties mutually agree to change the terms, such as extending deadlines or adjusting payment terms.
Compliance: To ensure the contract complies with any new laws or regulations that have been enacted after the original agreement.
Writing a modification of agreement involves several key steps:
Review the Original Contract: Understand the terms and areas you wish to modify. Identify clauses that permit or outline the modification process.
Draft the Modification Document: Clearly state the specific changes to be made. Use clear and concise language to avoid ambiguity.
Include Essential Details: Mention:
Obtain Consent: Ensure all parties involved in the original contract consent to the changes.
Execution: Have all parties sign and date the modification. Consider notarization if required.
Example: The parties hereby agree to modify the contract signed on [Original Date] as follows: [Specific modifications in detail]. This modification shall be effective as of [Effective Date].
Modifications can apply to many types of contracts, including but not limited to:
Employment Contracts: Adjustments might be needed for salary, job responsibilities, or working conditions.
Lease Agreements: Changes can occur regarding rental terms, duration, or tenant responsibilities.
Service Agreements: Modifying the scope, payment terms, or deliverables of the service provided.
Sales Contracts: Alterations in delivery dates, quantities, or price terms might necessitate a modification.
Construction Contracts: Changes to project specifications, timelines, or cost allocations.
In each case, following a standardized process for drafting and implementing these modifications is crucial to maintain legal enforceability and ensure all parties’ comprehension and consent.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
A modification clause outlines the conditions and procedures required to alter the terms of an existing contract. It typically requires mutual consent from all parties involved and may specify that modifications must be made in writing and signed by authorized representatives.
Monetary consideration refers to the financial compensation or payment exchanged between parties within a contract as part of their mutual agreement. It serves as a crucial element to validate a contract and may involve a specified amount agreed upon for services, goods, or other contractual obligations.
A month-to-month tenancy clause outlines a rental agreement where the tenancy automatically renews each month until either party provides a notice to terminate the arrangement. This type of tenancy offers flexibility for both the tenant and landlord, typically requiring a 30-day notice period for termination.
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