renegotiate

1. (transitive) To negotiate new terms to replace old ones.Examples: "The United States announced today that it had renegotiated an important agreement governing textile trade between developing nations and the industrialized countries."; "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."; "The compulsion to expose, renegotiate, or reinvent the strengths and weaknesses of dance tradition offers little in its final outcome to attract the average dance-goer."transitive