Contract Closing Clause Samples
The Contract Closing clause defines the procedures and requirements for finalizing the agreement between the parties. It typically outlines the date, location, and conditions that must be met for the contract to be considered officially closed, such as the exchange of documents, payment of funds, or transfer of assets. This clause ensures that both parties have a clear understanding of when and how their obligations are fulfilled, thereby reducing the risk of disputes and providing a definitive endpoint to the transaction.
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Contract Closing. After all Contract Documents required to be executed by and/or submitted by the successful Bidder have been received by the Village and reviewed and determined by the Village to be in compliance with the Contract Documents, the Village shall execute the Agreement and return to the successful Bidder two (2) executed originals of the Agreement, after which the Village may then issue to the successful Bidder the respective Notice to Proceed. The successful Bidder may provide one (1) executed original Agreement to the successful Bidder’s surety company or companies.
Contract Closing. It is mutually agreed that this contract and Task Orders issued on it shall remain open and in effect through the construction period of any Task Order design that results in construction or until release of claims is requested and processed by the government.
Contract Closing. SECTION 1. This Agreement and Addenda, Numbers 1 through 22 attached hereto, shall become effective on the first day of June 2020 and remain in force and effect until the 31st day of May 2023 and shall continue in full force from year to year thereafter unless written notice of reopening is given not less than ninety (90) days prior to the expiration date. In the event such notice of reopening is served, this Agreement shall continue in force and effect until conferences relating thereto have been terminated by either party.
SECTION 2. If, pursuant to federal or state law, any provision of this Agreement shall be found by a court of competent jurisdiction to be void or unenforceable, all of the other provisions of this Agreement shall remain in full force and effect.
SECTION 3. Notwithstanding any other provision of this Article, an award of the National Joint Adjustment Board rendered pursuant to the procedures prescribed in Article X of this Agreement may as a part thereof, direct the cancellation of this Agreement and in addition to any other legal remedies which may be available to the parties, this Agreement may be canceled by either party hereto in the event of the failure of the other to effectuate any award or order of the National Joint Adjustment Board within thirty (30) days of the date of notice thereof. No 1: Spiral pipe will not be permitted on the low pressure or conventional Side of a pressure reduction devise. This will not apply in remodeling and repair work being done in an industrial plant or the office of said Plant if it is a part of the plant’s structure. Any revamping of or adding to the building’s structure and mechanical work included therein will be considered new construction. Clarification of any questions in the interpretation of this Article shall be settled at a pre-bid conference. No 2: Conduit and flexible hose is classified as follows:
Contract Closing. This Option is conditioned upon the purchase pursuant to the Contract closing. If such closing has not occurred by May 21, 2003, then this Option will automatically terminate and be of no further effect.