Changes Under Applicable Law Clause Samples
The "Changes Under Applicable Law" clause defines how a contract will adapt if relevant laws or regulations change during the term of the agreement. Typically, this clause allows either party to request modifications to the contract terms to ensure ongoing compliance with new or amended legal requirements, such as tax laws or industry regulations. Its core function is to provide a mechanism for updating contractual obligations in response to legal changes, thereby reducing the risk of non-compliance and ensuring the agreement remains enforceable.
Changes Under Applicable Law. A change in any provision of this Agreement which requires any action to be taken by or on behalf of the Board of Managers or the Company pursuant to the requirements of the Act or any other applicable law if the provisions of applicable law are amended, modified, or revoked so that the taking of such action is no longer required. The authority set forth in this Section 10.02(e) shall specifically include the authority to make such amendments to this Agreement and to the Certificate as the Board of Managers deems necessary or desirable in the event that the Act or any other applicable law is amended or eliminate or change any provision now in effect.
Changes Under Applicable Law. A change in any provision of this Agreement which requires any action to be taken by or on behalf of the Board of Managers or the Company pursuant to the requirements of the Delaware Act or any other applicable law if the provisions of applicable law are amended, modified, or revoked so that the taking of such action is no longer required. The authority set forth in this Section 11.2(e) shall specifically include the authority to make such amendments to this Agreement and to the Certificate as the Board of Mangers deems necessary or desirable in the event that the Delaware Act or any other applicable law is amended or eliminate or change any provision now in effect.
Changes Under Applicable Law. A change in any provision of this Agreement which requires any action to be taken by or on behalf of the General Partner or the Partnership pursuant to the requirements of applicable Cayman Islands law if the provisions of applicable law are amended, modified, or revoked so that the taking of such action is no longer required; the authority set forth in this Section 13.5(e) shall specifically include the authority to make such amendments to this Agreement and to the Certificate of Registration as the General Partner deems necessary or desirable in the event that the Partnership Law is amended to eliminate or change any provision now in effect.