The phrase "altering the term" is correct and usable in written English.
It can be used when discussing changes or modifications to a specific term or condition in a contract, agreement, or any formal context.
Example: "The committee is considering altering the term of the agreement to better reflect the current circumstances."
Alternatives: "modifying the term" or "changing the term".
Mr. Ryan expressed bewilderment over Mr. Bloomberg's contention that altering the term limits would create a wider pool of candidates.
PAGE A5 Shift in Term Limits Possible The New York City Council is considering altering the term limits rule to allow council members to serve three terms instead of two.
While a majority of council members are open to altering the term limits law — a telephone survey conducted by The New York Times last month found that 27 of the Council's 51 members welcomed the idea — many are facing intense pressure from voters, who say that they, not the lawmakers, should be the ones deciding if any changes ought to be made.
Some argue that either move would require state legislation; lawmakers have responded coolly to altering the term-limits law.
This is altering the terms of British political debate.
Still, Clinton has gradually succeeded in altering the terms of the contest.
The government should also consider altering the terms of the Bank of Japan's law.
But there is also an opening there, I hope, to challenge that cycle by altering the terms of the conversation.
And if Lincoln Center is distressed at the company's imminent departure, how about altering the terms of occupancy?
But in Germany, the companies are hoping to save the huge cost of building separate networks by altering the terms of the original auction.
Quadruple Alliance, alliance formed Aug. 2, 1718, when Austria joined the Triple Alliance of Britain, the Dutch Republic (United Provinces), and France to prevent Spain from altering the terms of the Treaty of Utrecht (1713).
