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Addendum To Agreement
"I need an Addendum to Agreement to modify our existing service contract with ABC Technologies Limited, extending the service period by 24 months from January 1, 2025, and updating the monthly service fees from ₦500,000 to ₦650,000."
1. Parties: Identification of all parties to the original agreement, including their full legal names, addresses, and registration details if companies
2. Background: Reference to the original agreement including its date, title, and parties; and brief explanation of why the addendum is necessary
3. Definitions: Key terms used in the addendum, incorporating definitions from the original agreement and any new terms introduced
4. Amendment Details: Specific clauses or provisions being modified, clearly stating both the original text and the new text
5. Effect on Original Agreement: Statement confirming that all other terms of the original agreement remain in full force and effect
6. Governing Law: Confirmation that Nigerian law governs the addendum
7. Execution: Signature blocks for all parties, including space for witnesses as required under Nigerian law
1. Effective Date: Used when the amendments take effect on a specific date different from the signing date
2. Consideration: Include when there is a new exchange of value related to the amendments
3. Representations and Warranties: Include when parties need to make new representations specific to the amendments
4. Regulatory Compliance: Include when amendments involve regulated activities or require regulatory approval
5. Third Party Consents: Include when amendments require approval from parties not signing the addendum
6. Interpretation: Include when specific rules for interpreting the amendments in context of the original agreement are needed
1. Schedule of Amendments: Detailed list of all modifications to the original agreement, especially useful for multiple or complex changes
2. Revised Payment Terms: If amendments involve changes to financial terms, detailed breakdown of new payment structure
3. Updated Contact Information: If amendments include changes to party details or key contacts
4. Regulatory Approvals: Copies of any required regulatory approvals or permits related to the amendments
5. Consent Documents: Copies of third-party consents or authorizations if required for the amendments
Authors
Oil and Gas
Telecommunications
Agriculture
Banking and Finance
Manufacturing
Construction
Real Estate
Technology
Healthcare
Transportation and Logistics
Mining
Retail
Education
Professional Services
Legal
Compliance
Commercial
Finance
Operations
Procurement
Risk Management
Business Development
Corporate Secretariat
Project Management
Contract Administration
Legal Counsel
Contract Manager
Business Development Manager
Commercial Director
Chief Executive Officer
Chief Financial Officer
Operations Manager
Project Manager
Procurement Manager
Compliance Officer
Risk Manager
Company Secretary
Managing Director
General Manager
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