Subsequent Statutory Amendments Clause Samples
The "Subsequent Statutory Amendments" clause defines how changes in relevant laws or regulations after the contract is signed will affect the parties' obligations. Typically, this clause stipulates that if new statutes or amendments to existing laws impact the contract, the parties must comply with the updated legal requirements, even if they differ from those in effect at the time of signing. For example, if environmental regulations become stricter during the contract term, the parties may need to adjust their practices accordingly. The core function of this clause is to ensure the contract remains legally compliant over time, reducing the risk of inadvertent breaches due to evolving legal standards.
Subsequent Statutory Amendments. If revisions to the provisions of this Agreement are necessitated by subsequent statutory amendments, the Project Owner and, if a party hereto, the PHA, agrees to execute modifications to this Agreement that are needed to conform to the statutory amendments. At HUD’s option, HUD may implement any such statutory amendment through rulemaking.
Subsequent Statutory Amendments. If revisions to the provisions of this Use Agreement are necessitated by subsequent statutory amendments, the Owner agrees to execute modifications to this Use Agreement that are needed to conform to the statutory amendments. In the alternative, at HUD's option, HUD may implement any such statutory amendment through rulemaking by amending 24 C.F.R. Part 891.
Subsequent Statutory Amendments. If revisions to the provisions of this Agreement are necessitated by subsequent statutory amendments, the Project Owner and, if a party hereto, the PHA, agrees to execute modifications to this Agreement that are needed to conform to the statutory amendments. HUD may implement any such statutory amendment through rulemaking or notice as permitted by statute. Except with respect to statutory amendments implemented through regulation, if any future notice, future updates, changes, and amendments to the RAD Notice and guidance are made, they shall be applicable only to the extent that they interpret, clarify, and implement the terms of this Agreement rather than add or delete provisions from this Agreement.
Subsequent Statutory Amendments. If Idaho law is amended to authorize the further elimination or limitation of the liability of directors, then the liability of a director of the Corporation shall be eliminated or limited to the fullest extent permitted by Idaho law as so amended.