Amendment & Restatement Agreement

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Amendment & Restatement Agreements are used in particular for loan agreements and shareholders agreements.  This document is suitable for a contract which is governed by English law.

 

 

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Frequently Bought Together

Contract Variation

This document is an agreement pursuant to which the parties agree to amend specific terms of their agreement.  It is suitable for a contract which is governed by English law. Going forward, the original agreement and the amendment agreement will, together, comprise the form of the agreement.

 

Contract Termination

This document is for the mutual termination of a contract.  It is suitable for a contract which is governed by English law.

 

Novation Agreement

This novation is in the form of a deed, for the novation of contract to a replacement party.  It is suitable for a contract which is governed by English law.

 

Amendment & Restatement Agreement

Template Amendment & Restatement Agreement

Background

Why amend and restate an agreement?

An Amendment & Restatement Agreement is one way in which the parties can amend an existing contract.  The amendment can be:

  • amendment to the terms and conditions of the contract
  • amendment to introduce new parties to the agreement

The amendment could be done by simply documenting specific amendments to the contract in a contract variation agreement or a deed of amendment.  If done this way, the original contract and variation document are, together, the amended contract going forward.  For our template version of this document, see CON007.001: Contract Variation.

An alternative to having two documents going forward (with the possibility of there being additional documents if further changes are made in the future) would be to replace the original contract in its entirety but in its amended form.  This is achieved by what is known as “amending and restating” the original contract.  By entering into an amendment and restatement agreement, the original contract is:

  • amended by the agreement of the parties to the new form of the contract as amended and restated
  • restated by the agreement of the parties to the original agreement being repeated (restated), as amended, by the amended and restated agreement

Amendment & Restatement Agreements are used in particular for loan agreements and shareholders agreements.  These types of arrangement are often renegotiated, amended and restated during the term of the loan or joint venture.

About this document

This document is a template amendment and restatement agreement.  It is suitable for a contract which is governed by Engish law.

The parties agree to amend and restate the original agreement by replacing it in the form of a schedule to the amendment and restatement agreement.  The schedule comprises the agreement in its amended form.

Document features

Features include:

  • short form agreement under which the parties agree to amend and restate the original agreement
  • a schedule which will set out the amended and restated form of agreement, in its amended form

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