Common use of Retroactive Amendment Clause in Contracts

Retroactive Amendment. Any amendment to this Joint Trust Agreement may take place retroactively or otherwise as the Partners or the Board, as the case may be, may direct, provided that no amendment shall be made which retroactively increases the duty of care required of a present or former Trustee or retroactively diminishes their right to indemnity under this Joint Trust Agreement.

Retroactive Amendment. ‌ Any amendment to this Joint Trust Agreement may take place retroactively or otherwise as the Partners or the Board, as the case may be, may direct, provided that no amendment shall be made which retroactively increases the duty of care required of a present or former Trustee or retroactively diminishes their right to indemnity under this Joint Trust Agreement.