The Addendum To Buy Sell Agreement serves as a crucial modification tool in U.S. business transactions when parties need to update terms of their original agreement without creating an entirely new contract. This document is commonly used when circumstances change after the initial agreement, such as price adjustments, timeline modifications, or the addition of new parties. It must conform to both federal and state contract laws, and typically requires the same level of formality as the original agreement. The addendum becomes an integral part of the original Buy-Sell Agreement and should clearly reference the original document while specifying exactly which terms are being modified or added.
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1. Parties: Identification of all parties to the original agreement and any new parties being added
2. Background: Reference to original agreement, reason for addendum, and date of original agreement
3. Definitions: Key terms used in the addendum and any modifications to original definitions
4. Modifications: Specific changes being made to the original agreement, with clear reference to original sections
5. Effect on Original Agreement: Statement that all other terms of original agreement remain in full force and effect
6. Execution: Signature blocks for all parties
1. Additional Terms: New terms being added to the agreement when introducing completely new provisions not present in original agreement
2. Price Adjustments: Changes to original pricing terms when modifying purchase price or payment terms
3. Timeline Modifications: Changes to deadlines or schedules when adjusting any dates or timeframes
4. Regulatory Compliance: Additional compliance requirements when new regulations need to be addressed
1. Updated Price Schedule: Modified pricing details if applicable
2. Revised Timeline: Updated schedule of key dates and deadlines
3. Modified Asset List: Updated list of assets covered by the agreement
4. New Due Diligence Requirements: Additional or modified due diligence items
Relevant legal definitions
Agreement
Original Buy-Sell Agreement
Effective Date
Amendment Date
Parties
Original Parties
Additional Parties
Purchase Price
Adjusted Purchase Price
Assets
Modified Assets
Closing Date
Revised Closing Date
Business Day
Consideration
Transaction
Modified Terms
Governing Law
Jurisdiction
Related Documents
Security Interest
Encumbrances
Original Terms
Payment Terms
Revised Payment Terms
Warranties
Additional Warranties
Due Diligence
Additional Due Diligence Requirements
Closing Conditions
Modified Closing Conditions
Original Buy-Sell Agreement
Effective Date
Amendment Date
Parties
Original Parties
Additional Parties
Purchase Price
Adjusted Purchase Price
Assets
Modified Assets
Closing Date
Revised Closing Date
Business Day
Consideration
Transaction
Modified Terms
Governing Law
Jurisdiction
Related Documents
Security Interest
Encumbrances
Original Terms
Payment Terms
Revised Payment Terms
Warranties
Additional Warranties
Due Diligence
Additional Due Diligence Requirements
Closing Conditions
Modified Closing Conditions
Clauses
Amendment and Modification
Reference to Original Agreement
Consideration
Price Adjustment
Payment Terms
Closing Conditions
Timeline Modifications
Asset Modifications
Due Diligence
Representations and Warranties
Additional Covenants
Conditions Precedent
Further Assurances
Regulatory Compliance
Severability
Integration
Governing Law
Survival
Notice Requirements
Assignment
Force Majeure
Indemnification
Dispute Resolution
Counterparts
Authority to Execute
Reference to Original Agreement
Consideration
Price Adjustment
Payment Terms
Closing Conditions
Timeline Modifications
Asset Modifications
Due Diligence
Representations and Warranties
Additional Covenants
Conditions Precedent
Further Assurances
Regulatory Compliance
Severability
Integration
Governing Law
Survival
Notice Requirements
Assignment
Force Majeure
Indemnification
Dispute Resolution
Counterparts
Authority to Execute
Relevant Industries
Relevant Teams
Relevant Roles
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