AMENDMENT OPTION Sample Clauses
The Amendment Option clause allows parties to modify the terms of an existing agreement after it has been executed. Typically, this clause outlines the process for making changes, such as requiring written consent from all parties or specifying who has the authority to approve amendments. By providing a clear mechanism for altering the contract, the clause ensures flexibility and helps prevent disputes over unauthorized or informal changes.
AMENDMENT OPTION. If it is determined to be in the best interest of the State, the State may extend the term of the Agreement for an additional 12 months through an amendment signed by both parties. The rates specified in Exhibit B-1, Rate Sheet, shall remain in effect for the term of the Agreement including any extension of the term through a formal amendment.
AMENDMENT OPTION. In the event that any investor(s) makes an investment on terms that are more favorable to such investor(s) than those set forth herein, then the Funds shall have the option of amending this Agreement, the Notes and the Warrants to incorporate any more favorable terms, as identified by the Funds, into any of the foregoing agreements.