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Amendment To Purchase And Sale Agreement

Amendment To Purchase And Sale Agreement Template for India

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Key Requirements PROMPT example:

Amendment To Purchase And Sale Agreement

"I need an Amendment to Purchase and Sale Agreement to modify the purchase price of an industrial property from INR 5 crore to INR 6.5 crore and extend the closing date to March 15, 2025, with all other terms of our original agreement dated January 10, 2025 remaining unchanged."

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Document background
The Amendment To Purchase And Sale Agreement is a crucial legal instrument used when parties need to modify terms of their existing purchase and sale arrangement without creating an entirely new agreement. This document type is particularly relevant in the Indian legal context, where it must comply with the Indian Contract Act, 1872, and other relevant statutes. It's commonly used when circumstances necessitate changes to original terms such as purchase price adjustments, delivery modifications, specification updates, or timeline revisions. The amendment must be properly executed with the same formality as the original agreement and may require registration under Indian law depending on the nature of the transaction. This document type is essential for maintaining clear legal records of all modifications while preserving the fundamental structure of the original agreement.
Suggested Sections

1. Parties: Identification of all parties to the amendment, matching those in the original agreement

2. Background: Reference to the original agreement, its date, and brief context for the amendment

3. Definitions: Key terms used in the amendment, including reference to definitions in the original agreement

4. Amendment Details: Specific clauses being amended, showing both original and new language

5. Effect on Original Agreement: Statement clarifying which original provisions remain in force and which are superseded

6. Binding Effect: Confirmation that the amendment is binding on all parties

7. Integration: Statement that the amendment and original agreement constitute the entire agreement

8. Governing Law: Confirmation that Indian law governs the amendment

9. Execution: Signature blocks and execution details

Optional Sections

1. Price Adjustment: Include when the amendment involves changes to the purchase price or payment terms

2. Timeline Modification: Include when changing any dates or deadlines from the original agreement

3. Additional Terms: Include when introducing completely new terms not present in the original agreement

4. Representations and Warranties: Include when new representations or warranties are needed specific to the amendment

5. Conditions Precedent: Include when the amendment is subject to certain conditions being met

6. Regulatory Compliance: Include when amendment requires specific regulatory approvals or compliance

Suggested Schedules

1. Schedule of Amendments: Detailed list of all specific changes being made to the original agreement

2. Revised Price Schedule: If price terms are amended, detailed breakdown of new pricing structure

3. Updated Timeline: If applicable, revised schedule of key dates and deadlines

4. Regulatory Approvals: Copies of any required regulatory approvals or permits related to the amendment

5. Modified Property Details: If applicable, updated description or specifications of the property or goods being sold

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Real Estate

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Retail

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Relevant Teams

Legal

Procurement

Sales

Finance

Operations

Compliance

Business Development

Commercial

Real Estate

Contract Administration

Project Management

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Procurement Manager

Sales Director

Chief Financial Officer

Property Manager

Commercial Director

Operations Manager

Company Secretary

Legal Administrator

Compliance Officer

Project Manager

Real Estate Manager

Industries






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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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