The Deed of Variation Form is a crucial legal instrument in New Zealand's commercial and property law framework, designed to facilitate formal modifications to existing agreements. This document type is essential when parties need to alter specific terms of an existing agreement without completely replacing it, ensuring legal certainty and maintaining the validity of unmodified terms. It must comply with New Zealand's deed execution requirements, including proper witnessing and signing formalities. The document is commonly used in various scenarios such as changing contract terms, updating party details, modifying payment terms, or adjusting performance obligations. A properly executed Deed of Variation carries the same legal weight as the original agreement and creates a clear audit trail of contractual changes.
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1. Parties: Identifies all parties to the deed, including the parties to the original agreement
2. Background: References the original agreement, states the desire to vary it, and provides context for the variation
3. Definitions: Defines key terms used in the deed, including reference to definitions in the original agreement
4. Interpretation: Sets out how the deed should be read and interpreted in conjunction with the original agreement
5. Variation: Clearly states the specific clauses being varied and their new content
6. Confirmation: Confirms that all other terms of the original agreement remain in full force and effect
7. Effective Date: Specifies when the variations take effect
8. Execution: Formal execution block for all parties to sign, including witness requirements
1. Costs: Used when there are costs associated with the variation that need to be allocated between parties
2. Conditions Precedent: Include when the variations are subject to certain conditions being met before taking effect
3. Consents: Required when third-party consents are needed for the variation
4. Further Assurance: Added when parties need to take additional actions to give effect to the variation
5. Severability: Include when there's risk that some variations might be found invalid and need to be severed
6. Governing Law: Added when the original agreement doesn't specify governing law or when it needs to be changed
1. Schedule 1 - Original Agreement: Copy of the agreement being varied
2. Schedule 2 - Variations Table: Detailed table showing original clauses and their varied versions
3. Schedule 3 - Amended and Restated Agreement: Optional full version of the agreement incorporating all variations
4. Schedule 4 - Required Consents: List of third-party consents required and their status
5. Appendix A - Supporting Documents: Any relevant supporting documents referenced in the variation
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