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Contract analysis / bca-amendment-no-1-form.docx
bca-amendment-no-1-form.docx
1009-00003 · 29 clauses
High · 4 Medium · 8 Standard · 2
ARTICLE I
ARTICLE I DEFINITIONS; INTERPRETATION
Section 1.1 *Definitions.* Standard
⚑ Commercial term
Section 1.1 *Definitions.* Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Business Combination Agreement. As used in this Amendment, the following terms shall have the meanings set forth below: "[Insert any new defined term]" means [insert definition]. [Insert any new defined term]" means [insert definition]. [Instruction to preparer: Add additional defin
Section 1.2 *Interpretation.*
Section 1.2 *Interpretation.* The rules of interpretation set forth in Section [●] of the Business Combination Agreement (including, without limitation, rules regarding the construction of certain terms and phrases, the use of the terms "include," "includes," and "including," the interpretation of headings and captions, and the effect of the recitals) shall apply mutatis mutandis to this Amendment as if fully set for
ARTICLE II High
⚑ Indemnity / guarantee obligation
ARTICLE II AMENDMENTS TO THE BUSINESS COMBINATION AGREEMENT [General Instruction to Preparer: Set forth below are the specific amendments to the Business Combination Agreement. Each subsection should identify (i) the section or provision being amended, (ii) whether the provision is being amended and restated in its entirety, amended in part (by deletion and replacement of specified text), or deleted, and (iii) the fu
Section 2.1 *[Amendment to Section [●] — [Insert Descriptive Heading]].*
Section 2.1 *[Amendment to Section [●] — [Insert Descriptive Heading]].* [Instruction to preparer: Insert the section number and title of the provision of the Business Combination Agreement being amended. The descriptive heading should identify the subject matter of the amendment (e.g., "Amendment to Section 10.1(b)(i) — Extension of Outside Date," "Amendment to Section 3.1 — Modification of Merger Consideration," "A
Section 2.2 *[Amendment to Section [●] — [Insert Descriptive Heading]].*
Section 2.2 *[Amendment to Section [●] — [Insert Descriptive Heading]].* [Instruction to preparer: Same format as Section 2.1 above. Insert the section number and title of the next provision of the Business Combination Agreement being amended.] Section [●] of the Business Combination Agreement is hereby [amended and restated in its entirety / amended by deleting the [specified clause, sentence, or text] appearing the
Section 2.[●] *Amendments to Schedules and Exhibits.*
Section 2.[●] *Amendments to Schedules and Exhibits.* [Instruction to preparer: If any schedules, exhibits, or disclosure schedules to the Business Combination Agreement are being amended, identify each schedule or exhibit by reference and either (a) attach the amended version as an exhibit to this Amendment, or (b) set forth the revised text directly in this section. If disclosure schedules are being supplemented or
ARTICLE III
ARTICLE III REPRESENTATIONS AND WARRANTIES
Section 3.1 *Representations and Warranties of Each Party.* Medium
⚑ Forum / governing law
Section 3.1 *Representations and Warranties of Each Party.* Each Party hereby represents and warrants to each other Party that, as of the date hereof: (a) *Authority.* Such Party has all requisite corporate (or other applicable entity-level) power and authority to execute and deliver this Amendment and to perform its obligations hereunder. The execution, delivery, and performance of this Amendment are within such Par
Section 4.1 *Effect of Amendment.*
Section 4.1 *Effect of Amendment.* Except as expressly set forth in this Amendment, the Business Combination Agreement shall remain in full force and effect and is hereby ratified and confirmed in all respects. Nothing in this Amendment shall be deemed to constitute a waiver by any Party of any right, power, or remedy available to such Party under the Business Combination Agreement, at law, or in equity. The Parties
Section 4.2 *No Other Amendments or Waivers.* High
⚑ Non-compete / exclusivity restraint
Section 4.2 *No Other Amendments or Waivers.* This Amendment shall not constitute an amendment or waiver of any provision of the Business Combination Agreement not expressly referred to herein, and shall not be construed as an amendment, waiver, or consent to any further or future action on the part of any Party that would require an amendment, waiver, or consent under the Business Combination Agreement, except as ex
Section 4.3 *References to Business Combination Agreement in Other Transaction Documents.*
Section 4.3 *References to Business Combination Agreement in Other Transaction Documents.* [Instruction to preparer: Consider whether any ancillary agreements (e.g., Sponsor Support Agreement, Company Stockholder Support Agreement, PIPE Subscription Agreements, Forward Purchase Agreement, Lock-Up Agreement, Backstop Agreement, Earnout Escrow Agreement, Registration Rights Agreement, Tax Receivable Agreement, Investor
Section 4.4 *Governing Law.* Medium
⚑ Forum / governing law
Section 4.4 *Governing Law.* This Amendment, and all claims or causes of action (whether at law, in equity, in contract, in tort, or otherwise) that may be based upon, arise out of, or relate to this Amendment or the negotiation, execution, or performance of this Amendment, shall be governed by and construed in accordance with the laws of the State of [insert governing law jurisdiction], without regard to conflicts o
Section 4.5 *Jurisdiction; Venue.* High
⚑ Non-compete / exclusivity restraint
Section 4.5 *Jurisdiction; Venue.* [Instruction to preparer: Insert the exclusive jurisdiction and venue provision, which should be consistent with the forum selection clause in the Business Combination Agreement. Common formulations include submission to the exclusive jurisdiction of the courts of the State of Delaware (including the Court of Chancery of the State of Delaware) and the United States District Court fo
Section 4.6 *Waiver of Jury Trial.* Medium
⚑ Forum / governing law
Section 4.6 *Waiver of Jury Trial.* EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION ARISING OUT OF OR RELATING TO THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR O
Section 4.7 *Counterparts.* Medium
⚑ Forum / governing law
Section 4.7 *Counterparts.* This Amendment may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile, electronic mail (including any electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State
Section 4.8 *Entire Agreement.*
Section 4.8 *Entire Agreement.* This Amendment, together with the Business Combination Agreement (as amended hereby) and the other Transaction Documents (including all schedules, exhibits, and annexes thereto), constitutes the entire agreement among the Parties with respect to the subject matter hereof and thereof and supersedes all prior and contemporaneous negotiations, agreements, representations, warranties, comm
Section 4.9 *Severability.* Medium
⚑ Forum / governing law
Section 4.9 *Severability.* If any provision of this Amendment is held to be invalid, illegal, or unenforceable under any applicable law or rule in any jurisdiction, such invalidity, illegality, or unenforceability shall not affect the validity, legality, or enforceability of any other provision of this Amendment or the validity, legality, or enforceability of such provision in any other jurisdiction, and the remaini
Section 4.10 *Successors and Assigns.* Medium
⚑ Assignment / subcontracting
Section 4.10 *Successors and Assigns.* This Amendment shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and permitted assigns. No Party may assign or delegate any of its rights or obligations hereunder without the prior written consent of each other Party, and any attempted assignment or delegation without such consent shall be null and void.
Section 4.11 *Third-Party Beneficiaries.* High
⚑ Indemnity / guarantee obligation
Section 4.11 *Third-Party Beneficiaries.* [Instruction to preparer: Specify whether this Amendment has any third-party beneficiaries. If the Business Combination Agreement provides for third-party beneficiary rights (e.g., D&O indemnification provisions benefiting directors and officers of the Company, non-recourse provisions benefiting related persons of the Parties, or provisions benefiting the Sponsor or its affil
Section 4.12 *Specific Performance.*
Section 4.12 *Specific Performance.* The Parties acknowledge and agree that the provisions of Section [●] of the Business Combination Agreement relating to specific performance and other equitable remedies shall apply to this Amendment, mutatis mutandis, as if fully set forth herein. Each Party acknowledges that the rights of each Party to consummate the transactions contemplated by the Business Combination Agreement
Section 4.13 *Expenses.* Standard
⚑ Commercial term
Section 4.13 *Expenses.* Except as otherwise expressly provided in the Business Combination Agreement or as may be separately agreed by the Parties in writing, each Party shall bear its own costs and expenses (including attorneys' fees and expenses, financial advisory fees, accounting fees, and other professional fees and expenses) incurred in connection with the negotiation, preparation, execution, and delivery of t
1. Confirm Amendment Authority. Confirm the specific amendment provision of the Business
1. Confirm Amendment Authority. Confirm the specific amendment provision of the Business Combination Agreement that authorizes amendments and verify any procedural requirements applicable thereto, including, without limitation, (a) whether board approval by all Parties is required prior to execution of the amendment, (b) whether the consent or approval of any third party (including the Sponsor, the Company Stockholde
2. Review Ancillary Agreements. Determine whether any ancillary agreements, side letters,
2. Review Ancillary Agreements. Determine whether any ancillary agreements, side letters, or other transaction documents require conforming amendments, waivers, acknowledgments, or consents in connection with the proposed amendments to the Business Combination Agreement. Particular attention should be paid to the Sponsor Support Agreement (which may contain commitments by the Sponsor that are tied to specific provisi
3. Coordinate with Opposing Counsel. Coordinate with opposing counsel on the scope, subst
3. Coordinate with Opposing Counsel. Coordinate with opposing counsel on the scope, substance, and text of the proposed amendments. Consider whether a term sheet or summary of proposed changes should be prepared and discussed prior to the preparation of a full draft of the Amendment. Maintain a comprehensive issues list and log of all open negotiation points.
4. SEC Filing Requirements. Confirm whether the proposed amendments require (a) the filin
4. SEC Filing Requirements. Confirm whether the proposed amendments require (a) the filing of a Current Report on Form 8-K under Item 1.01 (Entry into a Material Definitive Agreement) within four (4) business days of execution, (b) a post-effective amendment or supplement to the Registration Statement on Form S-4 (or Form F-4, as applicable) if the Form S-4 has not yet been declared effective or if the proposed amend
5. Re-Solicitation Requirements. Evaluate whether the proposed amendments trigger any re- Medium
⚑ Forum / governing law
5. Re-Solicitation Requirements. Evaluate whether the proposed amendments trigger any re-solicitation requirements under applicable law, including (a) whether the proposed amendments are material enough to require the recirculation of the proxy statement/prospectus to the Acquiror's stockholders, (b) whether any amendment to the merger consideration or other economic terms of the Business Combination Agreement would
6. Financial Opinions and Board Approvals. Consider whether any proposed amendment consti
6. Financial Opinions and Board Approvals. Consider whether any proposed amendment constitutes a material change to the economic terms of the transaction that may require (a) an updated or supplemental financial opinion (e.g., a fairness opinion bring-down or refresh letter from the financial advisor to the board of directors of the Acquiror or the Company), (b) updated board resolutions from the board of directors (
7. Boilerplate Consistency. Verify that the governing law, jurisdiction, venue, waiver of Medium
⚑ Forum / governing law
7. Boilerplate Consistency. Verify that the governing law, jurisdiction, venue, waiver of jury trial, and other boilerplate provisions of this Amendment are consistent with the corresponding provisions in the original Business Combination Agreement. Ensure that no inadvertent conflicts or inconsistencies are introduced by this Amendment. SEC Filing Considerations. If this Amendment is executed, the Acquiror should fi