The Addendum To Buy Sell Agreement is a crucial legal instrument used in Indian business transactions when parties need to modify their existing sale agreement without creating an entirely new contract. This document type is particularly relevant when circumstances require adjustments to the original terms, such as price modifications, deadline extensions, or specification changes. It operates under Indian contract law, particularly the Indian Contract Act, 1872, and must comply with relevant state-specific regulations and stamp duty requirements. The addendum ensures continuity of the original agreement while incorporating necessary changes, making it essential for business transactions that require flexibility and adaptation to changing circumstances. It's commonly used in both corporate and individual transactions, requiring careful drafting to maintain consistency with the original agreement while clearly articulating the modified terms.
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1. Parties: Identification of all parties to the addendum, matching those in the original agreement
2. Background: Reference to the original agreement including its date and purpose, and the reason for this addendum
3. Definitions: Key terms used in the addendum, including references to definitions in the original agreement
4. Reference to Original Agreement: Explicit confirmation that this document serves as an addendum to the specified original agreement
5. Modifications: Detailed description of specific changes, additions, or deletions to the original agreement
6. Effect on Original Agreement: Statement clarifying which parts of the original agreement remain in force and which are superseded
7. Integration: Clause stating that the addendum becomes part of the original agreement
8. Governing Law: Confirmation that the same governing law as the original agreement applies
9. Execution: Signature blocks for all parties
1. Additional Representations and Warranties: Include when new representations or warranties are needed specific to the modifications
2. Price Adjustment: Include when the addendum involves changes to the original purchase price
3. Timeline Modifications: Include when changing any dates or deadlines from the original agreement
4. Additional Terms and Conditions: Include when introducing completely new terms not covered in the original agreement
5. Consent and Waiver: Include when modifications require specific consents or waivers from parties
6. Regulatory Compliance: Include when modifications need to address specific regulatory requirements
7. Force Majeure Update: Include when modifying force majeure provisions in light of new circumstances
1. Schedule of Modifications: Detailed itemization of all changes being made to the original agreement
2. Revised Price Schedule: If price terms are modified, detailed breakdown of new pricing structure
3. Updated Timeline: If applicable, revised schedule of key dates and deadlines
4. Modified Specifications: If applicable, updated technical or product specifications
5. Compliance Certificates: Any new regulatory or compliance certificates required for the modifications
6. Updated Property Details: If applicable, revised description or specifications of property involved in the sale
Relevant legal definitions
Original Agreement
Effective Date
Addendum Date
Modified Terms
Parties
Seller
Buyer
Modified Purchase Price
Revised Delivery Date
Additional Property
Modified Specifications
Amendment
Governing Law
Execution Date
Revised Payment Terms
Modified Obligations
Updated Schedule
Modification Period
Amended Provisions
Original Terms
Supplementary Terms
Consideration
Amended Closing Date
Modified Representations
Additional Warranties
Consent
Surviving Provisions
Force Majeure Events
Regulatory Approvals
Stamp Duty
Effective Date
Addendum Date
Modified Terms
Parties
Seller
Buyer
Modified Purchase Price
Revised Delivery Date
Additional Property
Modified Specifications
Amendment
Governing Law
Execution Date
Revised Payment Terms
Modified Obligations
Updated Schedule
Modification Period
Amended Provisions
Original Terms
Supplementary Terms
Consideration
Amended Closing Date
Modified Representations
Additional Warranties
Consent
Surviving Provisions
Force Majeure Events
Regulatory Approvals
Stamp Duty
Clauses
Interpretation
Amendment
Modification
Price Adjustment
Payment Terms
Delivery Terms
Timeline Modification
Additional Representations
Additional Warranties
Consideration
Conditions Precedent
Regulatory Compliance
Property Description
Title and Ownership
Risk Transfer
Assignment
Further Assurance
Notices
Stamp Duty
Registration
Integration
Severability
Governing Law
Dispute Resolution
Force Majeure
Counterparts
Authorization
Execution
Amendment
Modification
Price Adjustment
Payment Terms
Delivery Terms
Timeline Modification
Additional Representations
Additional Warranties
Consideration
Conditions Precedent
Regulatory Compliance
Property Description
Title and Ownership
Risk Transfer
Assignment
Further Assurance
Notices
Stamp Duty
Registration
Integration
Severability
Governing Law
Dispute Resolution
Force Majeure
Counterparts
Authorization
Execution
Relevant Industries
Real Estate
Manufacturing
Retail
Technology
Agriculture
Automotive
Construction
Healthcare
Energy
Mining
Telecommunications
Financial Services
Relevant Teams
Legal
Finance
Procurement
Sales
Business Development
Compliance
Risk Management
Operations
Corporate Secretariat
Commercial
Relevant Roles
Legal Counsel
Contract Manager
Business Development Manager
Chief Financial Officer
Chief Executive Officer
Commercial Director
Procurement Manager
Sales Director
Corporate Secretary
Compliance Officer
Risk Manager
Property Manager
Operations Director
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