How To Add A New Party To An Agreement

However, as you find that you are contractually obliged to ship within 14 days and can no longer do so, updating the contract is a good idea to reflect this change in practice. When creating a contract change, you should be as concise and specific as possible. Since Nestor, not Churchill, remained ACI`s counterparty under the license agreement, Nestor`s insolvency and the sale of assets triggered ACI`s right of termination, and Churchill was therefore deprived of all future sublicense royalties entered into after the effective date of termination. . . .