Document background
The Novation And Amendment Agreement is a specialized contract used when there is a need to both transfer contractual obligations to a new party and modify the terms of the original agreement. This document is particularly relevant in situations such as corporate restructuring, M&A transactions, or when a party wishes to exit a contract and transfer its rights and obligations to another entity. Under Swiss law, this agreement must carefully address the extinction of the original obligation and the creation of a new one, while ensuring compliance with Swiss Code of Obligations requirements for both novation and contract amendments. The document typically includes detailed provisions about the transfer of rights and obligations, the timing of the novation, any conditions precedent, and specific amendments to the original agreement terms.
