Concurrent Exchanges Sample Clauses
The Concurrent Exchanges clause establishes that the parties involved will perform their respective obligations simultaneously, rather than sequentially. In practice, this means that, for example, the transfer of payment and the delivery of goods or documents occur at the same time, ensuring that neither party is required to act first without assurance of the other's performance. This clause is essential for minimizing risk and fostering trust, as it prevents one party from being left vulnerable by having fulfilled their obligation while waiting for the other party to reciprocate.
Concurrent Exchanges. The obligation with respect to a B Exchange represents a several, and not a joint and several, obligation of the Och-Ziff Operating Group Partnerships, and no Och-Ziff Operating Group Partnership shall have any obligation or right to acquire the portion of one or more Och-Ziff Operating Group Units issued by another Och-Ziff Operating Group Partnership. Notwithstanding any other provision of this Agreement, an Exchange Notice shall not be valid unless the Och-Ziff Limited Partner giving such Exchange Notice requests an exchange of an equal number of Och-Ziff Operating Group Units in each Och-Ziff Operating Group Partnership.
Concurrent Exchanges. The obligation, if any, of the Intermediate Holding Companies to effect an Exchange under this Agreement represents a several, and not a joint and several, obligation of the Intermediate Holding Companies.
Concurrent Exchanges. The Exchange Right, once exercised, represents a several, and not a joint and several, obligation of the Partnerships, and no Partnership shall have any obligation or right to acquire one or more Partnership Units issued by another Partnership. Notwithstanding any other provision of this Agreement, a Request or an Exchange Notice shall not be valid unless the Partner giving such Request or Exchange Notice requests an exchange of an equal number of Partnership Units in each Partnership.
Concurrent Exchanges. The obligation, if any, of NAV REIT to effect an Exchange under this Agreement represents a several, and not a joint and several, obligation of NAV REIT.