Before expiry Clause Samples
The "Before expiry" clause defines actions or rights that must be exercised or conditions that must be met prior to the expiration of a specified period or agreement. For example, it may require a party to provide notice, renew a contract, or fulfill certain obligations before the end date of the agreement. This clause ensures that parties are aware of and act within the required timeframe, preventing automatic termination or loss of rights due to inaction.
Before expiry. If the Payment Security is not renewed or replaced within seven (7) Days prior to its date of expiry then the Sellers shall have the right to draw on the balance amount of such Payment Security before it expires.