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Amendment To Agreement Of Purchase And Sale Template for India

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Key Requirements PROMPT example:

Amendment To Agreement Of Purchase And Sale

"I need an Amendment to Agreement of Purchase and Sale under Indian law to modify the purchase price of a commercial property from INR 5 crore to INR 6.5 crore, with the amendment to take effect from March 15, 2025."

Document background
The Amendment To Agreement Of Purchase And Sale is a crucial legal instrument used when parties to an existing purchase agreement need to modify specific terms while keeping the original agreement's framework intact. This document type is commonly used in Indian business and property transactions when circumstances require changes to the original terms, such as purchase price adjustments, closing date extensions, or modifications to property specifications. It must comply with Indian contract law, including the Indian Contract Act, 1872, and where applicable, the Transfer of Property Act, 1882. The amendment should clearly reference the original agreement, specify the exact modifications, and include proper execution by all parties. It's particularly important in complex transactions where formal documentation of changes is essential for legal certainty and future reference.
Suggested Sections

1. Parties: Identifies all parties to the amendment, matching those in the original agreement

2. Background: References the original agreement, its date, and purpose, and establishes the intent to amend

3. Definitions: Defines key terms used in the amendment and incorporates definitions from the original agreement

4. Reference to Original Agreement: Specifically identifies the original agreement being amended, including its date and any previous amendments

5. Effective Date: Specifies when the amendments will take effect

6. Amendments: Details the specific changes to the original agreement, clearly identifying sections being modified, added, or deleted

7. Ratification: Confirms that all other terms and conditions of the original agreement remain in full force and effect

8. Entire Agreement: Establishes that this amendment and the original agreement constitute the entire understanding between the parties

9. Execution: Signature blocks and execution details for all parties

Optional Sections

1. Recitals: Additional background information explaining the reasons for the amendment, used when complex circumstances need to be documented

2. Interpretation: Provides rules for interpreting the amendment in conjunction with the original agreement, used when there are complex modifications

3. Additional Representations and Warranties: New representations and warranties specific to the amendment, included if the changes require additional assurances

4. Conditions Precedent: Conditions that must be met before the amendment becomes effective, used when the amendment is contingent on certain events

5. Regulatory Compliance: Specific references to regulatory requirements or approvals, included when amendments involve regulated aspects

6. Costs and Expenses: Allocation of costs related to the amendment, included when there are significant costs associated with the changes

Suggested Schedules

1. Schedule of Amendments: Detailed listing of all modifications to the original agreement, particularly useful for multiple or complex amendments

2. Revised Price Schedule: Updated pricing information if the amendment involves price changes

3. Modified Property Description: Updated property details if the amendment involves changes to the property description

4. Amended Payment Terms: Revised payment schedule or terms if modified by the amendment

5. Regulatory Approvals: Copies of any required regulatory approvals or permits related to the amendment

6. Supporting Documents: Any additional documents referenced in the amendment or required to effect the changes

Authors

Alex Denne

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

Relevant legal definitions






























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Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial Property

Manufacturing

Retail

Hospitality

Agriculture

Infrastructure

Technology

Healthcare

Education

Relevant Teams

Legal

Real Estate

Compliance

Finance

Business Development

Corporate Affairs

Property Management

Operations

Risk Management

Contract Administration

Relevant Roles

Legal Counsel

Property Manager

Real Estate Manager

Compliance Officer

Contract Administrator

Business Development Manager

Chief Legal Officer

Chief Financial Officer

Real Estate Director

Property Developer

Transaction Manager

Corporate Secretary

Acquisition Manager

Asset Manager

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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