AMCIC Clause Samples
The AMCIC clause, which stands for "As Much as the Contract Is Capable," defines the extent of a party's obligations or entitlements under a contract, limiting them to what the contract can reasonably provide or support. In practice, this clause is often used to clarify that a party is only responsible for performing or delivering to the extent that the contract's terms, resources, or subject matter allow, such as in supply agreements where quantities may fluctuate based on availability. Its core function is to prevent overextension of contractual duties or rights, ensuring that neither party is held to impossible or impractical standards beyond the contract's inherent capacity.
AMCIC. 7.8.1 warrants to Bird (for itself and as trustee for its successors in title) that each of the AMCIC Warranties is true and accurate; and
7.8.2 acknowledges that Bird has entered into this Agreement in reliance on, among other things, the AMCIC Warranties.
AMCIC. (a) shall transfer the ▇▇▇▇▇▇▇▇▇ Membership Interests to Bird;
(b) shall procure that an officer of ▇▇▇▇▇▇▇▇▇ procures that the capital account maintained by ▇▇▇▇▇▇▇▇▇ for AMCIC be closed and the balance be transferred into the name of Bird and consolidated with the existing capital account maintained by ▇▇▇▇▇▇▇▇▇ for Bird; and
(c) shall procure the delivery to Bird of resignation letters (duly executed as deeds) from ▇▇ ▇▇▇▇ ▇. Mende as director, ▇▇ ▇▇▇▇▇▇▇▇ Molaris as director and officer and ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ as assistant secretary, each in agreed form;
AMCIC. (a) shall transfer the Hope Membership Interests to Bird;
(b) shall procure that an officer of Hope procures that the capital account maintained by Hope for AMCIC be closed and the balance be transferred into the name of Bird and consolidated with the existing capital account maintained by Hope for Bird;
(c) shall procure the delivery to Bird of resignation letters (duly executed as deeds) from ▇▇ ▇▇▇▇▇▇▇▇ Molaris as director and officer, ▇▇ ▇▇▇▇ ▇. Mende as director and ▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇ as assistant secretary, in agreed form; and
(d) shall pay the ▇▇▇▇▇▇ Purchase Price by electronic funds transfer for value on the day of Completion to the Nominated Account and payment of the ▇▇▇▇▇▇ Purchase Price into such account shall constitute a good discharge to Bird in respect of it.