Dependent Contracts Sample Clauses
The Dependent Contracts clause establishes that the obligations or performance under one contract are contingent upon the execution or fulfillment of another related contract. In practice, this means that if a primary agreement is not completed or is terminated, any secondary or dependent contracts may also be affected, such as a subcontractor's agreement relying on the main contract's continuation. This clause is essential for coordinating multiple agreements in complex projects, ensuring that parties are not bound to perform or incur costs if the foundational contract does not proceed, thereby managing risk and interdependencies.
Dependent Contracts. Seller and Purchaser acknowledge that on the Effective Date of this Contract, Purchaser entered into those certain contracts of sale described in Schedule 14.1 hereof (collectively, the "Dependent Contracts"). Notwithstanding anything contained in this Contract to the contrary, Seller and Purchaser agree with respect to the Dependent Contracts as follows:
(a) Purchaser's obligations under this Contract to purchase the Property is expressly subject to and conditioned upon the consummation of the closing of the acquisition of the properties set forth and described in the Dependent Contracts pursuant to the terms and conditions thereof;
(b) Seller's obligations under this Contract to sell the Property to Purchaser is expressly subject to and conditioned upon the consummation of the closing of the acquisition of the properties set forth and described in the Dependent Contracts pursuant to the terms and conditions thereof;
(c) A default by Purchaser or any of the sellers (the "Dependent Sellers") under any of the Dependent Contracts shall be deemed to be a default by Purchaser or Seller, respectively, under this Contract and shall entitle such non-defaulting party to the rights and remedies set forth in this Contract;
(d) The termination by Purchaser of this Contract pursuant to a right hereunder automatically terminates each of the Dependent Contracts and a termination by Purchaser of any of the Dependent Contracts automatically terminates this Contract and the other Dependent Contracts and any termination of this Contract by Purchaser which entitles Purchaser to receive the ▇▇▇▇▇▇▇ Money Deposit shall terminate all of the other Dependent Contracts and the ▇▇▇▇▇▇▇ Money Deposit held under this Contract and the ▇▇▇▇▇▇▇ money deposits held under the Dependent Contracts shall be promptly returned to Purchaser;
(e) The termination by Seller of this Contract pursuant to a right hereunder automatically terminates each of the Dependent Contracts and a termination by any of the Dependent Sellers of any of the Dependent Contracts automatically terminates this Contract and the other Dependent Contracts and any termination of this Contract by Seller which entitles Seller to receive the ▇▇▇▇▇▇▇ Money Deposit shall terminate all of the other Dependent Contracts and the ▇▇▇▇▇▇▇ Money Deposit held under this Contract shall be promptly paid to Seller and the ▇▇▇▇▇▇▇ money deposits held under the Dependent Contracts shall be promptly paid to the applicable Dependent Sellers; a...
Dependent Contracts. A dependent contract is a special function contact where the range contract depends on the function arguments. In TreatJS, dependent contracts are created using contract constructors that are invoked with the caller’s arguments. The constructor binds the arguments values and returns a contract for the range of that function. The following example demonstrates the construction of a dependent contract that specifies that a function sort has to return an array of the same length as its input array. The constructor Contract.Dependent can either be called with a single JavaScript function or with a contract constructor. Calling the constructor with function internally converts the function to a contract constructor. let sort = Contract.assert(function sort(input, compareFunction) { /* not specified in detail */ }, Contract.Dependent(function(input, compareFunction) { return Contract.Base(function(output) { }); });