Condition Precedent Clause Samples
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Condition Precedent. The obligations of the parties to this Agreement are subject to the Receiver and the Corporation having received at or before Bank Closing evidence reasonably satisfactory to each of any necessary approval, waiver, or other action by any governmental authority, the board of directors of the Assuming Institution, or other third party, with respect to this Agreement and the transactions contemplated hereby, the closing of the Failed Bank and the appointment of the Receiver, the chartering of the Assuming Institution, and any agreements, documents, matters or proceedings contemplated hereby or thereby.
Condition Precedent. This Contract shall be subject to the availability and appropriation of funds and to the approval of the Governor.
Condition Precedent. This Contract shall be subject to the availability and appropriation of funds and to the approval of the Commissioner of the Department of Property and Procurement.
Condition Precedent. This Amendment shall become effective and be deemed effective, as of the date first above written, upon receipt by the Agent of one copy of this Amendment duly executed by each of the parties hereto.
Condition Precedent. 3.1 This Agreement is conditional on you being selected to the Team (which will operate as a condition precedent). If you are not selected to the Team, then, pending the outcome of any successful appeal, this Agreement will not come into effect and neither party will have any claim against the other.
Condition Precedent. The obligations of the Assignor and the Assignee hereunder shall be subject to the fulfillment of the condition that the Assignor shall have (a) received payment in full of the Purchase Price, and (b) complied with the other applicable provisions of Section 11.7 of the Credit Agreement.
Condition Precedent. (a) If, at the Commencement Date, the Access Holder has a credit rating below the Acceptable Credit Rating and the Access Holder has not delivered a Parent Guarantee or Security for an amount of at least three months’ TOP Charges to ARTC, then clauses 3 to 11 do not take effect until this condition precedent is satisfied.
(b) The condition precedent is for the benefit of ARTC and may only be waived by ARTC.
(c) If the condition precedent is not satisfied within one month of the Commencement Date, ARTC may terminate this agreement on written notice to the Access Holder.
Condition Precedent. The assignment and transmission of the Beneficiary Rights and Obligations provided on clause First of this Agreement shall be effective on the date that the following condition precedents are fully fulfilled (the “Closing”) on the understating that such condition precedents shall be fulfilled no later than September 30, 2015, on the understanding that if by such date any condition precedent was still pending to be fulfilled, this Agreement shall be consider as if it was never executed:
a) The Beneficiaries shall have received in the totality and under the terms agreed on this Agreement (i) the Purchase Price, and (ii) the Land Trust Cost.
b) The Concurso Process End Date shall have occurred
c) The representations and warranties of the Beneficiaries under this Agreement shall be true and correct in all material respects on and as of the Closing Date, as though made on and as of such date, on the understanding that this condition shall be deemed as fulfilled if LandCo receives from the Beneficiaries a written notice executed by their corresponding representatives, substantially in the form of Exhibit “M” of this Agreement;
d) Each of the Beneficiaries shall have delivered to LandCo the 100% of the ownership of the Beneficiary Rights and Obligations, free of any Encumbrances, provided that this condition shall be deemed as fulfilled whenever LandCo receives the notice and certifications agreed on clause 2.2 of this Agreement;
e) Each of the Beneficiaries shall have delivered to LandCo, substantially in the form of the document attached hereto as Exhibit “M”, a certification dated on the Closing Date and executed by its authorized legal representatives, for the effects of clauses 6(c) and 6(d) of this Agreement, certifying that, up to their best knowledge, there is no effective or any applicable law or any order by a court of competent jurisdiction restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated by this Agreement or the LandCo Sale Agreement;
f) The representations and warranties of LandCo under this Agreement shall be true and correct in all material respects on and as of the Closing Date, as though made on and as of such date, on the understanding that this condition shall be deemed as fulfilled if the Beneficiaries receive from LandCo a written notice executed by its representative, substantially in the form of Exhibit “N” of this Agreement;
Condition Precedent. The condition precedent in Section 2(a)(iii)(1) does not apply to a payment and delivery owing by a party if the other party shall have satisfied in full all its payment or delivery obligations under Section 2(a)(i) and shall at the relevant time have no future payment or delivery obligations, whether absolute or contingent, under Section 2(a)(i).
Condition Precedent. Section 2(a)(iii) will be amended by the deletion of the words "a Potential Event of Default" in respect of obligations of Party A only.