New York Sample Amendment to Stock Purchase Agreement between Wynn's International, Goshen Rubber Co., Inc., shareholders and Berkshire Taconic Community Foundation

• Category: Corporations - Public - Stock Purchase Sample
• State: Multi-State
• Control #: US-EG-9158
• Format: Word; Rich Text

Description

Amend. No. 1 to Stock Purch. Agr. btwn Wynn's International, Goshen Rubber Co., Inc., Wm. P. Johnson, shareholders & Berkshire Taconic Community Found. dated December 17, 1999. 9 pages Title: New York Sample Amendment to Stock Purchase Agreement between Wynn's International, Goshen Rubber Co., Inc., Shareholders, and Berkshire Laconic Community Foundation Introduction: In this detailed description, we will discuss the key aspects and importance of the New York Sample Amendment to the Stock Purchase Agreement between Wynn's International, Goshen Rubber Co., Inc., shareholders, and Berkshire Laconic Community Foundation. We will explore the various types of amendments that can be made to the agreement, highlighting the relevance of New York's legal framework. 1. Purpose of the Amendment: The New York Sample Amendment to the Stock Purchase Agreement serves as a legally binding document that enables the revision and modification of the original agreement made between Wynn's International, Goshen Rubber Co., Inc., shareholders, and Berkshire Laconic Community Foundation. It aims to update the terms and conditions of the agreement in accordance with the changing needs and circumstances of the parties involved. 2. Amending Specific Provisions: The New York Sample Amendment provides a comprehensive framework for modifying and altering specific provisions within the original Stock Purchase Agreement. These provisions may include but are not limited to: a) Purchase Price: The amendment covers the adjustment of the purchase price to account for changes in the valuation of the company or any unforeseen circumstances affecting its value. b) Payment Terms: It allows the parties to revise the payment schedule, method, or currency stipulated in the original agreement. c) Representations and Warranties: The amendment may update or expand the representations and warranties, ensuring that both parties are aware of any new material information or changes in circumstances. d) Conditions Precedent: The amendment can modify the conditions that must be met before the completion of the stock purchase, ensuring compliance with legal requirements and industry standards. e) Indemnification: It permits updating of the indemnification clauses, specifying the extent to which each party will bear liability for any future claims or losses. 3. Utilizing New York Legal Framework: The New York Sample Amendment's relevance lies in its compliance with the state's legal framework and its alignment with New York laws governing stock purchases and contractual obligations. It safeguards the interests of the parties by offering a clear understanding of their rights and responsibilities within the boundaries of the state's legal system. 4. Benefits of Using the New York Sample Amendment: a) Legal Compliance: By adhering to New York's legal framework, the amendment ensures that all parties are protected and their rights are respected in accordance with state laws and regulations. b) Tailored Modifications: The amendment provides flexibility for tailoring specific modifications unique to the parties involved, granting them the ability to adapt the agreement to their changing needs. c) Avoiding Disputes: Utilizing the New York Sample Amendment minimizes the possibility of disputes arising from ambiguities or uncertainties in the original agreement, as it streamlines the process of modifying its terms while maintaining a legally binding nature. d) Efficient and Transparent Alterations: The amendment process is transparent and efficient, ensuring that any changes made to the agreement are documented, acknowledged, and approved by all relevant parties. Conclusion: The New York Sample Amendment to the Stock Purchase Agreement facilitates the modification and adjustment of key provisions, allowing parties involved to adapt to evolving circumstances and safeguard their interests. By following New York's legal framework, this amendment ensures compliance, minimizes disputes, and offers an efficient and transparent process for modifying the original agreement.

Title: New York Sample Amendment to Stock Purchase Agreement between Wynn's International, Goshen Rubber Co., Inc., Shareholders, and Berkshire Laconic Community Foundation Introduction: In this detailed description, we will discuss the key aspects and importance of the New York Sample Amendment to the Stock Purchase Agreement between Wynn's International, Goshen Rubber Co., Inc., shareholders, and Berkshire Laconic Community Foundation. We will explore the various types of amendments that can be made to the agreement, highlighting the relevance of New York's legal framework. 1. Purpose of the Amendment: The New York Sample Amendment to the Stock Purchase Agreement serves as a legally binding document that enables the revision and modification of the original agreement made between Wynn's International, Goshen Rubber Co., Inc., shareholders, and Berkshire Laconic Community Foundation. It aims to update the terms and conditions of the agreement in accordance with the changing needs and circumstances of the parties involved. 2. Amending Specific Provisions: The New York Sample Amendment provides a comprehensive framework for modifying and altering specific provisions within the original Stock Purchase Agreement. These provisions may include but are not limited to: a) Purchase Price: The amendment covers the adjustment of the purchase price to account for changes in the valuation of the company or any unforeseen circumstances affecting its value. b) Payment Terms: It allows the parties to revise the payment schedule, method, or currency stipulated in the original agreement. c) Representations and Warranties: The amendment may update or expand the representations and warranties, ensuring that both parties are aware of any new material information or changes in circumstances. d) Conditions Precedent: The amendment can modify the conditions that must be met before the completion of the stock purchase, ensuring compliance with legal requirements and industry standards. e) Indemnification: It permits updating of the indemnification clauses, specifying the extent to which each party will bear liability for any future claims or losses. 3. Utilizing New York Legal Framework: The New York Sample Amendment's relevance lies in its compliance with the state's legal framework and its alignment with New York laws governing stock purchases and contractual obligations. It safeguards the interests of the parties by offering a clear understanding of their rights and responsibilities within the boundaries of the state's legal system. 4. Benefits of Using the New York Sample Amendment: a) Legal Compliance: By adhering to New York's legal framework, the amendment ensures that all parties are protected and their rights are respected in accordance with state laws and regulations. b) Tailored Modifications: The amendment provides flexibility for tailoring specific modifications unique to the parties involved, granting them the ability to adapt the agreement to their changing needs. c) Avoiding Disputes: Utilizing the New York Sample Amendment minimizes the possibility of disputes arising from ambiguities or uncertainties in the original agreement, as it streamlines the process of modifying its terms while maintaining a legally binding nature. d) Efficient and Transparent Alterations: The amendment process is transparent and efficient, ensuring that any changes made to the agreement are documented, acknowledged, and approved by all relevant parties. Conclusion: The New York Sample Amendment to the Stock Purchase Agreement facilitates the modification and adjustment of key provisions, allowing parties involved to adapt to evolving circumstances and safeguard their interests. By following New York's legal framework, this amendment ensures compliance, minimizes disputes, and offers an efficient and transparent process for modifying the original agreement.