Amendment and Restatement of Section 1 Clause Examples
The "Amendment and Restatement of Section 1" clause serves to formally modify and replace the original Section 1 of an agreement with new or revised terms. In practice, this clause specifies that the previous language of Section 1 is deleted and substituted with updated provisions, which may reflect changes in definitions, obligations, or other key elements. Its core function is to ensure that the contract accurately reflects the parties' current intentions and agreements, resolving any inconsistencies or outdated terms in the original section.
Amendment and Restatement of Section 1. Section 1 is hereby amended and restated as follows:
Amendment and Restatement of Section 1. 3(d)(iv). Section 1.3(d)(iv) of the Agreement is amended and restated to read as follows:
Amendment and Restatement of Section 1. 3(d)(iii). Section 1.3(d)(iii) of the Agreement is amended and restated to read as follows:
(1) Issuance of 2nd Note Within five (5) business days after achievement of the CB-CAPS Monitoring Assay Launch Milestone, Purchaser shall issue to Seller a promissory note (the “2nd” Note”) in the aggregate principal amount of [***], the form of which is attached hereto as Exhibit A. The 2nd Note shall be secured in accordance with Section 5.9 of the Agreement. The Note shall accrue interest at a rate of [***] per annum which interest shall be payable on the 10th business day following the end of each month following the date of issuance of this 2nd Note, The outstanding principal balance on the Note shall be repaid at the rate specified in Schedule A to the 2nd Note on the 10th business day following the end of each month following the date of issuance of this 2nd Note.
Amendment and Restatement of Section 1 of the Note shall be and it hereby is amended and restated to read in its entirety as follows:
Amendment and Restatement of Section 1. 10. Section 1.10 of the Agreement is hereby deleted and replaced in its entirety with the following language:
Amendment and Restatement of Section 1. Section 1.1 (Other Offerings) of the Investment Agreement is hereby amended and restated to read in its entirety as follows:
Amendment and Restatement of Section 1. Section 1.1 of the Contribution Agreement is hereby amended and restated in its entirety as follows:
Amendment and Restatement of Section 1. The parties acknowledge and agree that Section 1 of the Employment Agreement shall be deleted in its entirety and replaced with the following:
Amendment and Restatement of Section 1. 4(b). Section 1.4(b) of the Share Purchase Agreement is hereby amended and restated in its entirety to read as follows:
Amendment and Restatement of Section 1. Section 1 of the Agreement is hereby amended and restated in its entirety to read as follows: