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Amendment To The Agreement Of Purchase And Sale Template for New Zealand

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Key Requirements PROMPT example:

Amendment To The Agreement Of Purchase And Sale

"I need an Amendment to the Agreement of Purchase and Sale to modify the purchase price of a commercial property from $2.5M to $2.8M and extend the settlement date to March 15, 2025, with all other original terms remaining unchanged."

Document background
The Amendment To The Agreement Of Purchase And Sale is a crucial legal document used when parties need to modify their existing purchase and sale agreement without creating an entirely new contract. This document type is particularly relevant in New Zealand's legal framework, where it must comply with the Contract and Commercial Law Act 2017 and other relevant legislation. It's commonly used when circumstances change after the original agreement is signed, such as adjustments to price, delivery terms, specifications, or timelines. The amendment must clearly reference the original agreement, specify exactly which terms are being modified, and be executed with the same formality as the original contract. This document type is essential for maintaining clear legal records of contractual changes while ensuring continuity of the business relationship.
Suggested Sections

1. Parties: Identification of all parties to the original agreement and amendment, including their legal names, addresses, and any registration numbers

2. Background: Reference to the original agreement including its date, parties, and subject matter, and brief explanation of why the amendment is needed

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

4. Original Agreement Reference: Specific identification of which clauses, sections, or terms of the original agreement are being amended

5. Amendment Details: Clear articulation of the specific changes being made to the original agreement, including any deletions, additions, or modifications

6. Effect of Amendment: Statement confirming that all other terms of the original agreement remain in full force and effect

7. Execution: Signature blocks for all parties, including date and proper execution requirements

Optional Sections

1. Consideration: Required if there is any new or additional consideration being provided for the amendment

2. Conditions Precedent: Include if there are any conditions that must be satisfied before the amendment takes effect

3. Representations and Warranties: Include if any new representations or warranties are being made as part of the amendment

4. Regulatory Compliance: Include if the amendment requires specific regulatory approvals or notifications

5. Third Party Consents: Required if the amendment needs approval from any third parties (e.g., lenders, guarantors)

6. Time of Effect: Include if the amendment is to take effect at a different time than signing

7. Costs and Expenses: Include if there are specific provisions about who bears the costs of the amendment

Suggested Schedules

1. Schedule of Amendments: Detailed list of all specific changes being made to the original agreement, with reference to clause numbers and exact wording changes

2. Revised Price Schedule: If the amendment involves price changes, a detailed schedule of the new pricing structure

3. Updated Timeline: If the amendment affects project timelines or delivery dates, a revised schedule of key dates and milestones

4. Consent Documents: Copies of any third-party consents or regulatory approvals required for the amendment

5. Amended Specifications: If the amendment involves changes to product or service specifications, detailed documentation of the changes

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
























Clauses

























Relevant Industries

Real Estate

Manufacturing

Retail

Agriculture

Technology

Construction

Professional Services

Mining

Energy

Transportation

Healthcare

Hospitality

Education

Financial Services

Relevant Teams

Legal

Procurement

Sales

Commercial

Finance

Operations

Compliance

Risk Management

Business Development

Property Management

Contract Administration

Relevant Roles

Legal Counsel

Contract Manager

Commercial Manager

Procurement Manager

Sales Director

Business Development Manager

Chief Financial Officer

Operations Manager

Project Manager

Real Estate Agent

Property Manager

Compliance Officer

Risk Manager

General Manager

Chief Executive Officer

Industries






Teams

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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