COMPLETION OF THE TASK Clause Samples
The 'Completion of the Task' clause defines the requirements and conditions under which a specified task or project is considered finished according to the contract. It typically outlines the standards of performance, deliverables, and any necessary approvals or documentation that must be provided to confirm completion. This clause ensures both parties have a clear understanding of when obligations are fulfilled, reducing the risk of disputes over whether the work has been properly completed.
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COMPLETION OF THE TASK. 2.1 Within 5 Business Days of the Completion Date, if the Task has been completed to the satisfaction of the Company (acting reasonably at all times), the Company shall click the ‘Complete’ button on the Task Page.
2.2 If the Company fails to click the ‘Complete’ button on the Task Page within 5 Business Days of the Completion Date, the parties authorise Vestd to investigate such matter. Vestd will have the absolute discretion to (i) with the consent of the Company, extend the date that the Task is to be completed (and accordingly any new date of completion of the Task shall be deemed to be the ‘Completion Date’ for the purposes of this Agreement), or (ii) commence the Dispute Resolution Procedure, (should the Company fail in Vestd’s reasonable opinion to provide assistance to resolve such matter).
2.3 If the Contributor fails to complete:
2.3.1 the Task to the reasonable satisfaction of the Company; and/or
2.3.2 any of the milestones of the Task by the date for completion of each such milestone, as agreed between the Contributor and the Company (on the Task Page), the Company shall at any time, but no later than 5 Business Days from the Completion Date, inform the Contributor accordingly, and click on the ‘Cancel’ button on the Task Page, and Vestd will as soon as is reasonably practicable commence the Dispute Resolution Procedure.
2.4 Completion in respect of the Task shall be deemed to have occurred upon either:
2.4.1 the Company clicking the ‘Complete’ button on the Task Page (as outlined in paragraph 2.1); or
2.4.2 completion of the Dispute Resolution Procedure, which will determine how many V Shares, Shares or Options are to be retained in consideration for undertaking the Task (which for the avoidance of doubt may be a lesser number of V Shares, Shares or Options as outlined in the Task Page (including zero)).