The Amended Settlement Agreement is utilized when parties who have previously entered into a settlement agreement in the UAE need to modify its terms due to changed circumstances, new developments, or mutual agreement to alter specific provisions. This document type is crucial in the UAE legal landscape, where formal documentation of contract modifications is essential for enforceability. It must comply with UAE Civil Code requirements and typically includes details of the original settlement, specific amendments, and any new terms agreed upon by the parties. The document is particularly important in the UAE context where clear documentation of commercial agreements and their modifications is required for legal certainty and potential court enforcement. The Amended Settlement Agreement should be drafted with careful consideration of UAE legal requirements regarding contract amendments and settlement enforcement.
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1. Parties: Identification of all parties to the agreement, including their full legal names, addresses, and registration details
2. Background: Recitals explaining the original settlement agreement, reasons for amendment, and current circumstances
3. Definitions: Definitions of key terms used in the agreement, including references to the original settlement agreement
4. Amendment Effective Date: Specific date when the amendments take effect
5. Amendments to Original Agreement: Detailed listing of all modifications to the original settlement agreement, with clear reference to original clauses
6. Reaffirmation of Other Terms: Confirmation that all other terms of the original agreement remain in full force and effect
7. Consideration: Details of any new or modified consideration being provided
8. Payment Terms: Updated payment obligations, schedules, and methods
9. Compliance with Laws: Confirmation of compliance with UAE laws and regulations
10. Governing Law and Jurisdiction: Confirmation of UAE law as governing law and relevant jurisdiction
11. Execution: Signature blocks and execution requirements
1. Confidentiality: Terms regarding confidentiality of both original and amended settlement terms
2. Force Majeure: Provisions for unforeseen circumstances preventing performance
3. Assignment: Rights and restrictions regarding assignment of the agreement
4. Dispute Resolution: Specific procedures for resolving disputes, including mediation or arbitration
5. Further Assurance: Obligation to execute additional documents if needed
6. Severability: Provisions for maintaining validity if certain terms are found unenforceable
7. Notices: Updated communication procedures and contact details
8. Third Party Rights: Rights or exclusions of third parties under the agreement
9. Costs and Expenses: Allocation of costs related to the amendment
1. Schedule 1 - Original Settlement Agreement: Copy of the original settlement agreement being amended
2. Schedule 2 - Amended Payment Schedule: Updated payment terms and schedules if applicable
3. Schedule 3 - Comparison Document: Blackline showing changes between original and amended agreement
4. Schedule 4 - Corporate Authorizations: Copies of corporate approvals and authorizations for the amendment
5. Schedule 5 - Supporting Documents: Any relevant supporting documents referenced in the amendments
6. Appendix A - Contact Details: Updated contact information for all parties and their representatives
Relevant legal definitions
Clauses
Relevant Industries
Banking and Financial Services
Real Estate and Construction
Manufacturing and Industrial
Trading and Commercial
Professional Services
Technology and Telecommunications
Healthcare
Energy and Resources
Retail and Consumer Goods
Transportation and Logistics
Relevant Teams
Legal
Compliance
Executive Leadership
Finance
Risk Management
Corporate Governance
Commercial Operations
Business Development
Treasury
Dispute Resolution
Relevant Roles
Legal Director
General Counsel
Chief Legal Officer
Settlement Officer
Compliance Manager
Chief Executive Officer
Chief Financial Officer
Commercial Director
Risk Manager
Legal Counsel
Contract Manager
Dispute Resolution Manager
Corporate Secretary
Business Development Manager
Finance Manager
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