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What does renegotiating mean?

Looking for the meaning or definition of the word renegotiating? Here's what it means.

Verb
  1. present participle of renegotiate
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In renegotiating the Ahdab deal, Iraq secured more favourable terms, changing the contract from a production sharing agreement to a set-fee service deal.
It also differs in many countries in the strict laws regulating renegotiating and bankruptcy.
Businessman Michael Holland, who also owns the Fitzwilliam Hotel, bought the chain through his investment engine Gonville after renegotiating leases for the stores.
He tried juggling things himself, renegotiating payment terms with creditors.
Now he says he favors renegotiating the deal to ensure that workers have a right to collective bargaining and that environmental standards are upheld.
This would allow the store to sell electronic goods in at least some of its stores without renegotiating its user terms.

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