Conditional Contracts Clause Samples
A conditional contracts clause defines that the enforceability or performance of the contract depends on the occurrence or non-occurrence of a specified event or condition. In practice, this means that the parties are only obligated to fulfill their contractual duties if certain requirements are met, such as obtaining regulatory approval or securing financing. This clause is essential for managing uncertainty and risk, as it ensures that parties are not bound to proceed unless key prerequisites are satisfied, thereby protecting their interests if conditions change.
Conditional Contracts. If a conditional contract is exchanged for the disposal or letting of the Property the Client will be liable to pay remuneration to BF on the basis set out above under "Sole Selling Rights", "Sole Agency", "Joint Sole Agency" or "Multiple Agency" (as appropriate) as if the reference to "unconditional contracts" contained in the provisions referred to "conditional contracts" provided always that the liability to pay remuneration to BF shall only arise on the conditional contract becoming unconditional in all respects.
Conditional Contracts. Promptly following the Effective Date, the Company shall notify in writing each counterparty (each a “Conditional Contract Counterparty”) to the Conditional Contracts and request that such Conditional Contract Counterparty notify the Company, on or before the Closing Date, as to whether or not such Conditional Contract Counterparty desires to continue the applicable Conditional Contract following the Closing with the understanding that following the Closing the Company will be owned and controlled by Buyer and its Affiliates. In the event that such Conditional Contract Counterparty notifies the Company that it desires to continue the applicable Conditional Contract following the Closing, the Company shall deliver at Closing any instrument (counter-signed by the Conditional Contract Counterparty) necessary to evidence such intent to continue the applicable Conditional Contract following the Closing and consent of the Conditional Contract Counterparty to any actual or deemed assignment, transfer, change of control or similar consequence of the sale of Shares contemplated by this Agreement and the continuation of the applicable Conditional Contract in accordance with its terms. In the event that such Conditional Contract Counterparty notifies the Company that it does not desire to continue the applicable Conditional Contract following the Closing, the Company and such Conditional Contract Counterparty shall execute and deliver at Closing an instrument that effectively terminates the applicable Conditional Contract as of not later than the Closing, or the Company shall deliver at the Closing an instrument that effectively terminates as of not later than the Closing any Conditional Contract which the Company may terminate unilaterally. As of not later than the Closing, the Company shall isolate and hold separate from all other Asset Documents all copies (including digital copies), that are in the Company’s possession or control, of all Conditional Contracts that are so terminated as of not later than the Closing. At or after the Closing, Oronite shall be entitled to immediately remove and destroy all such copies of all such terminated Conditional Contracts, and at all times after the Closing, the Company and Buyer will not use or exploit, and shall refrain from asserting any right to use or exploit, any such terminated Conditional Contracts and any summaries thereof and extracts therefrom, whether in the operation of the Company’s or Buyer’s business or otherwi...
Conditional Contracts. The conditional employment contract of a teacher who does not meet employment requirements shall be immediately voided in accordance with ORC §3319.
Conditional Contracts. 5.1 In the case of a conditional contract, an unconditional contract will be deemed to have been exchanged for the purpose of this agreement (i) on the date of the satisfaction of the last condition or (ii) if earlier, on the date of the completion of the transaction notwithstanding any condition remains to be satisfied.
Conditional Contracts. A Shareholder may enter an agreement or contract to Alienate Securities which is in all respects conditional upon any consent or procedure under this Agreement first being obtained or complied with (as the case may be).