Amendment/Novation Clause Samples
The Amendment/Novation clause defines the process by which changes can be made to the terms of an existing contract or by which one party is replaced by another, with the consent of all original parties. Typically, this clause requires that any amendments or novations be made in writing and signed by all parties involved, ensuring that modifications are formally agreed upon and documented. Its core function is to provide a clear and enforceable mechanism for updating or transferring contractual obligations, thereby preventing disputes over unauthorized or informal changes.
Amendment/Novation. No modifications, amendments, deletions, additions, or novations to or of this Employment Agreement will be effective unless they are completely and unambiguously contained in a writing signed by Executive and by an authorized officer of Employer.
Amendment/Novation. This Amendment amends, among other things, the Credit Agreement. All references to the “Credit Agreement” contained in the other Loan Documents delivered in connection with the Credit Agreement or this Amendment shall, and shall be deemed to refer to the Credit Agreement as amended by this Amendment. Notwithstanding the foregoing, the Obligations of the Borrower and the other Loan Parties outstanding under the Credit Agreement and the Loan Documents as of the Second Amendment Closing Date shall remain outstanding and shall constitute continuing Obligations without novation and shall continue as such to be secured by the Collateral. Such Obligations shall in all respects be continuing and this Amendment shall not be deemed to evidence or result in a novation or repayment and reborrowing of such Obligations. The Liens securing payment of the Obligations under the Credit Agreement, as amended in the form attached to this this Amendment, shall in all respects be continuing, securing the payment of all Obligations.
Amendment/Novation. No modifications, amendments, deletions, additions, or novations to or of this Agreement will be effective unless they are completely and unambiguously contained in a writing signed by the Part Time Executive and by an authorized officer of the Company.