Common use of Finance Contingency Clause in Contracts

Finance Contingency. It is acknowledged and agreed by the Parties that the continued existence of this Contract is expressly contingent upon Manhattan Beach USD closing financing that will allow it to make the payments to Chevron Energy Solutions required by this Contract. Upon execution of this Contract, Manhattan Beach USD will have thirty (30) calendar days to close such financing. If the financing is not closed within this time, for any reason, either Party may by written notice to the other Party declare this Contract to be null and void; and the Contract will be null and void as of the other Party’s receipt of this notice. It is acknowledged and agreed that Chevron Energy Solutions will have no obligation to commence performance of the Work unless and until the financing has been closed.‌

Finance Contingency. It is acknowledged and agreed by the Parties that the continued existence of this Contract is expressly contingent upon Manhattan Beach USD closing financing that will allow it to make the payments to Chevron Energy Solutions required by this Contract. Upon execution of this Contract, Manhattan Beach USD will have thirty (30) calendar days to close such financing. If the financing is not closed within this time, for any reason, either Party may by written notice to the other Party declare this Contract to be null and void; and the Contract will be null and void as of the other Party’s receipt of this notice. It is acknowledged and agreed that Chevron Energy Solutions will have no obligation to commence performance of the Work unless and until the financing has been closed.‌closed.