"renegotiate" in the verb sense
1. renegociate, renegotiate
"The two warring parties will have to renegociate"
2. renegociate, renegotiate
revise the terms of in order to limit or regain excess profits gained by the contractor
"We renegociated our old mortgage now that the interest rates have come down"
Source: WordNet® (An amazing lexical database of English)
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