Challenges to Transaction Clause Samples
The "Challenges to Transaction" clause defines the procedures and conditions under which a party may contest, object to, or otherwise challenge the validity or enforceability of a transaction. Typically, this clause outlines the specific grounds for raising a challenge, such as fraud, misrepresentation, or failure to meet regulatory requirements, and may set forth the timeframes and processes for submitting such challenges. By establishing clear rules for disputing a transaction, this clause helps ensure that any objections are handled in an orderly and predictable manner, thereby reducing uncertainty and potential disputes between the parties.
Challenges to Transaction. In the event any proceeding is filed that contests, directly or indirectly, the validity of this Agreement, including any of the Contract Documents, whether pursuant to Code of Civil Procedure section 860, et. seq., or any other regulation, statute, ordinance, or law (hereinafter referred to as a "Reverse Validation Action"), the Contractor’s rights and obligations under this Agreement and any of its part may be immediately suspended and/or terminated for convenience, at District or Contractor's option. If either party elects to terminate for convenience, Contractor’s compensation shall be in accordance with the Termination for Convenience provisions in the Contract Documents.
Challenges to Transaction. Notwithstanding any provision in the Site Lease, Facilities Lease, or any other Contract Document with District, Contractor’s actual construction Work, and the Work or calendar days allowed for completion, shall not commence until at least ninety days (90) days following the authorized vote of the Owner's governing board to approve and enter into this Agreement with Contractor. Nothing herein will prevent Contractor from performing preconstruction Work prior to the expiration of the 90 day period. In the event any proceeding is filed that contests, directly or indirectly, the validity of this Agreement, including any of the Contract Documents, whether pursuant to Code of Civil Procedure section 860, et. seq., or any other regulation, statute, ordinance, or law (hereinafter referred to as a "Reverse Validation Action"), Contractor's rights and obligations under this Agreement and any of its part may be immediately suspended and/ or terminated for convenience, at District or Contractor's option. If either party elects to terminate for convenience, Contractor’s compensation shall be in accordance with the Termination for Convenience provisions in the Contract Documents.
Challenges to Transaction. In the event any proceeding is filed that contests, directly or indirectly, the validity of this Agreement, including any of the Contract Documents, whether pursuant to Code of Civil Procedure section 860, et. seq., or any other regulation, statute, ordinance, or law (hereinafter referred to as a "Reverse Validation Action"), the &RQWUDriFghWtsRanUd¶obVligations under this Agreement and any of its part may be immediately suspended and/or terminated for convenience, at District or Contractor's option. If HLWKHU SDUW\ HOHFWV WR WHUPLQDWH IRU FRQYHQLHQ accordance with the Termination for Convenience provisions in the Contract Documents.