renegotiate

Verb

renegotiate (third-person singular simple present renegotiates, present participle renegotiating, simple past and past participle renegotiated)

1. (transitive) To negotiate new terms to replace old ones.
   • The United States announced today that it had renegotiated an important agreement governing textile trade between developing nations and the industrialized countries.1986 February 8, Kenneth B. Noble, “MULTI-FIBER AGREEMENT SET BY U.S.”, in The New York Times
   • The Cordiant Communications Group in London, the troubled agency company, said yesterday that it would seek to sell additional assets to reduce debt as it renegotiates its loan agreements with banks for a second time.2003 February 21, Nat Ives, “THE MEDIA BUSINESS: ADVERTISING -- ADDENDA; Cordiant Seeks To Sell More Assets”, in The New York Times