''COINCIDING'' SETTLEMENTS Sample Clauses
The Coinciding Settlements clause establishes that the settlement of obligations between parties will occur simultaneously or on the same date. In practice, this means that the delivery of goods, securities, or payments by one party is coordinated to happen at the same time as the corresponding delivery or payment by the other party, reducing the risk that one party fulfills its obligation while the other does not. This clause is essential for ensuring mutual trust and minimizing settlement risk, as it helps prevent situations where one party is left exposed due to non-performance by the other.
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''COINCIDING'' SETTLEMENTS. Settlement of this Contract is contingent upon the settlement of the contract for the Sale of the Purchaser's property located at (''Purchaser's Property''). Settlement (under this Contract) may not be delayed more than Days after the Settlement Date (specified in this Contract) without the parties' written consent. If a further delay is required to obtain coinciding settlements and the parties do not agree then this Contract will become void. If at any time after the Date of Ratification the contract for the sale of the Purchaser's Property becomes void, the Purchaser will immediately Deliver Notice to the Seller together with evidence of such voiding, at which time either the Seller Or the Purchaser may declare this Contract void by Delivering Notice to the other party.