Binding Conditions Clause Samples
The Binding Conditions clause sets out specific requirements or events that must be satisfied before a contract or agreement becomes legally enforceable. Typically, these conditions might include obtaining regulatory approvals, securing financing, or the completion of due diligence. By clearly outlining these prerequisites, the clause ensures that both parties are only obligated to proceed once all critical factors are met, thereby reducing uncertainty and protecting against premature commitments.
POPULAR SAMPLE Copied 1 times
Binding Conditions. This Agreement shall not bind FOP Lodge #1 or Vendor unless and until
Binding Conditions. 3.3.1 All of D-R’s actions, performance, covenants and obligations contained in this Agreement, including, without limitation, those obligations set forth in Section 2.3 and Section 5.1, will be conditioned on and subject to (the “Core Binding Conditions”):
3.3.1.1 E-C obtaining the Fundamental Process Security pursuant to Section 3.2.2;
3.3.1.2 E-C providing D-R with evidence reasonably satisfactory to D-R that all (a) previously existing liens on the E-C Intellectual Property have been released and (b) all Patents applicable to the Fundamental Process, Gradual Oxidizer, Target Gas Turbine and/or KG2-3GEF/GO purported to be owned by E-C are in fact owned by E-C and recorded at the appropriate Patent Office(s);
3.3.1.3 E-C providing D-R with (i) evidence reasonably satisfactory to D-R that it has sufficient funding as of the Effective Date to fund its planned operations for a period of * and (ii) a budget consistent with discussions between the Parties and reasonably satisfactory to D-R, for the period starting with the month of the Core Binding Date, pursuant to Section 3.3.2, through the * outlining E-C’s planned (x) quarterly balance sheet account balances and (y) monthly inflows of cash and expenditures of cash (such budget the “E-C Company Budget”); and
3.3.1.4 D-R provides a written acknowledgement of an initial binding Customer purchase order for a KG2-3GEF/GO. For the avoidance of doubt, D-R shall notbe obligated to enter into a contract with a Customer or End User for the Initial System unless E-C has previously satisfied the conditions pursuant to Sections 3.3.1.1, 3.3.1.2, and 3.3.1.3. * Portions of this page have been omitted pursuant to a request for confidential treatment and have been filed separately with the Securities and Exchange Commission.
Binding Conditions. This deed is binding on the Responsible Entity, each Trust Unitholder and any other person claiming through any of them as if each was a party to this deed.
Binding Conditions. If the termination date of this Agreement shall occur during negotiations for a renewal of the Agreement, the terms and conditions of this Agreement shall be binding upon the parties until the renewal Agreement is negotiated and executed by the parties.
Binding Conditions. This Agreement shall not bind FOP Lodge #1 or Food Truck Vendor unless and until (1) FOP Lodge #1 offers you a space at Police Week Tent City by sending you an approval notification by email; and (2) you accept FOP Lodge #1’s offer to participate in the event by paying the Membership Fee in accordance with the Agreement (the “Binding Conditions”). Immediately upon the satisfaction of the binding conditions, this agreement shall automatically become an effective and binding contract between FOP Lodge #1 and Food Truck Vendor.