Deemed Satisfaction Clause Samples
The Deemed Satisfaction clause establishes that a party’s approval or satisfaction regarding a particular matter will be automatically assumed if they do not respond or object within a specified timeframe. In practice, this means that if one party is required to review and approve a document, action, or condition, and they fail to communicate their decision by the deadline, their approval is considered granted by default. This clause streamlines processes by preventing unnecessary delays and ensures that one party cannot stall progress by withholding a response, thereby promoting efficiency and certainty in contractual relationships.
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Deemed Satisfaction. 12.1 Payment in full to the Agent of all Obligations, other than the Principal Sum contained in this Debenture, will be deemed to be payment in satisfaction of the Principal Sum under this Debenture. Notwithstanding the stated interest rate per annum in this Debenture, payment by the Debtor of the relevant fees and interest for any period in respect of the Obligations at the rate at which the Obligations bear interest for such period will be deemed to be payment in satisfaction of the interest payment for the same period under this Debenture. Notwithstanding the Principal Sum, interest and other monies expressed to be payable or secured hereunder, the obligations payable or secured hereunder shall not exceed the Obligations.
Deemed Satisfaction. The Contractor shall satisfy itself in respect of all operational, environmental, and statutory requirements and all other matters which may affect the performance of the Work, and failure to do so will not relieve Contractor from any of its contractual obligations hereunder.
Deemed Satisfaction. Notwithstanding the provision of the Corporation Information, the Contractor shall be deemed to have satisfied itself in respect of all relevant matters pertaining to the Work, including, but not limited to, the Scope of Work, the nature of the Work, access to the Site, local facilities, climatic, sea, other water and weather conditions, working hygiene and working environment conditions and all other matters which may affect the performance of the Work. Any failure by the Contractor to take into account any of the aforementioned matters shall not relieve or excuse the Contractor from any of its responsibilities, liabilities or obligations hereunder or entitle the Contractor to any extra payment.
Deemed Satisfaction. The Lender, by delivering and releasing its signature page to this Agreement and by making of each Loan, shall be deemed to have acknowledged receipt of, and consented to and approved (or waived the applicable condition precedent in respect of), each Loan Document and each other agreement, instrument, certificate or other document or matter required to be approved by or acceptable to, and each condition precedent qualified as to the satisfaction of, the Lender on the Loan Date for such Loan and/or in connection with the making of such Loan.
Deemed Satisfaction. For clarity, the Borrower shall be deemed to have satisfied their obligations under Sections 8.03(1) and 8.03
Deemed Satisfaction. If a notice is not given pursuant to Section 4.2 or Section 4.3 by the party entitled to deliver such notice, indicating that a condition has not been fulfilled and has not been waived, by no later than the date for satisfaction of such condition, such party shall, unless the date set for the satisfaction of such condition has been extended by mutual consent in writing, deemed to have been satisfied with respect to or have waived that particular condition and shall be deemed to have given notice of satisfaction or waiver thereof, without prejudice, however to their rights in respect of any other precondition hereunder.
Deemed Satisfaction. For each of Substantial Completion and Final Completion, Contractor has performed the requirements of such milestone to the greatest extent possible but for the occurrence and continuance of one or more Owner Caused Delays whose aggregate duration extends for sixty (60) days beyond the applicable date in the Key Date Schedule for performance of the corresponding item of Owner Provided Work, but only to the extent that Contractor was delayed in achieving the Substantial Completion Guaranteed Date or Scheduled Final Completion Date, as applicable, as a result of such Owner Caused Delays; provided that, subject to Sections 9.2 and 9.3, such sixty (60) day period within which Owner may remedy any Owner Caused Delay shall be extended by the period of time that Owner is delayed as a result of any Force Majeure Event.