The Addendum To Buy Sell Agreement is a crucial legal instrument used when parties need to modify their existing purchase agreement without creating an entirely new contract. This document type is commonly employed in German business transactions when circumstances require adjustments to original terms, such as purchase price modifications, timeline changes, or additional conditions. The addendum must comply with German civil law (BGB) requirements and maintains the validity of the original agreement while incorporating specific changes. It's particularly important in complex transactions where flexibility is needed after the initial agreement, such as in real estate purchases, business acquisitions, or asset sales. The document ensures that modifications are properly documented and legally binding, protecting all parties' interests while maintaining transparency and legal certainty under German jurisdiction.
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1. Parties: Identification of all parties to the original Buy-Sell Agreement, including their legal names, addresses, and registration details if companies
2. Background: Reference to the original Buy-Sell Agreement including its date, parties, and subject matter, and brief explanation of why the addendum is needed
3. Definitions: Key terms used in the addendum, including reference to definitions from the original agreement that remain applicable
4. Reference to Original Agreement: Formal confirmation that this document serves as an addendum to the specified original agreement
5. Amendments: Detailed description of specific modifications to the original agreement, clearly identifying sections being modified, deleted, or added
6. Effect on Original Agreement: Statement confirming that all other terms and conditions of the original agreement remain in full force and effect
7. Integration Clause: Statement that the addendum and original agreement constitute the entire agreement between the parties
8. Governing Law: Confirmation that German law continues to govern the agreement and addendum
9. Execution: Signature blocks for all parties, including date and place of signing
1. Price Adjustments: Details of any changes to the original purchase price, payment terms, or payment schedule
2. Timeline Modifications: Changes to any deadlines, closing dates, or performance schedules from the original agreement
3. Additional Terms: New terms or conditions not covered in the original agreement
4. Property Description Updates: For real estate transactions, any modifications to property descriptions or included items
5. Representation Updates: Any changes to representations and warranties from the original agreement
6. Consent Requirements: If needed, acknowledgment of third-party consents required for the modifications
7. Tax Implications: Statement addressing any tax consequences of the modifications, if applicable
1. Schedule A - Modified Terms: Detailed listing of specific clauses being modified, showing both original and new language
2. Schedule B - Updated Price Schedule: If applicable, detailed breakdown of any price modifications, payment terms, or financial adjustments
3. Schedule C - Revised Timeline: If applicable, updated timeline or milestone schedule showing changes to original deadlines
4. Appendix 1 - Supporting Documentation: Any new certificates, permits, or documents relevant to the modifications
5. Appendix 2 - Consent Documents: Copies of any third-party consents or approvals required for the modifications
6. Appendix 3 - Updated Property Documents: For real estate transactions, any modified property descriptions, surveys, or related documents
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