Limited Right to Modify Terms Clause Samples

Limited Right to Modify Terms. If there is a change in any applicable Law, litigation or the regulatory landscape which affects this Agreement or the activities of either party under this Agreement, and a party reasonably believes in good faith that the change will have a substantial adverse effect on that party’s rights or obligations under this Agreement, then such party may, upon written notice, require the other party to enter into good faith negotiations to renegotiate the terms of this Agreement, with such notice providing reasonable detail as to the nature of any proposed modification. Pindrop also reserves the right, within Pindrop’s discretion, to modify this Agreement applicable to new features or functionality for the Products or new Services it plans to make available generally commercially available to its customers (each a “Product/Service Update”), provided that such changes shall be effective no sooner than 60 days after email notice to Company (the “Product/Service Notice Period”). If Pindrop issues a written notice to Company to modify this Agreement under this Section, Company agrees to notify Pindrop in writing within 30 days of receiving such notice of any objections to the proposed change(s). If Company does not object to an Product/Service Update within the Product/Service Notice Period, then the changes are deemed accepted by Company. Notwithstanding the foregoing, if Product/Service Update is nonmaterial or beneficial to the Company, such Product/Service Update will become effective upon notice by Pindrop without the process described above.