Fundamental Condition Clause Samples
A Fundamental Condition clause establishes essential requirements or obligations that must be met for a contract to remain valid or for a party to continue performing under the agreement. Typically, these conditions might include obtaining necessary regulatory approvals, securing financing, or ensuring that certain representations remain true throughout the contract period. If a fundamental condition is not satisfied, the affected party may have the right to terminate the contract or suspend their obligations. This clause serves to protect parties from being bound to a contract when critical prerequisites are not fulfilled, thereby allocating risk and ensuring that both sides are only committed when key conditions are met.
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Fundamental Condition. 11 Notwithstanding anything hereinbefore contained if less than 50 per cent. in aggregate nominal amount of the Preferential Stock (or such lesser nominal amount as the Company shall within fourteen days after the holding of the meetings convened by Order of the Court for the purpose of considering this Scheme by Resolution of its Board of Directors decide) falls to be treated as assented Preferential Stock for the purposes of this Scheme, this Scheme shall not be capable of becoming effective. Dated 25th August, 1966.
Fundamental Condition. The provisions of this Section 7 are fundamental to the entire Agreement and the Company is entering into this Agreement wholly in reliance upon the Hotel's fulfilling all of its undertakings herein in a timely fashion. Any material breach by the Hotel of the provisions of this Section 7 above, including non-payment of the Company's Share for two (2) consecutive months, tardy payment of the Company's Share on three (3) consecutive occasions in any twelve (12) month period, and/or any other action or omission on the part of the Hotel which prevents, or substantially hinders the Company's performance of its obligations under this Agreement, shall be deemed to be a material breach of this Agreement and the provisions of Section 8.4 below shall apply.
Fundamental Condition. Subject to any exceptions set forth in Section 4 herein, no Restricted Stock Units may be settled and delivered to a Participant prior to vesting under this Agreement.
Fundamental Condition. 14 SECTION NUMBER AND HEADING PAGE -------------------------- ---- 8. Term and Termination...............................................................................14
Fundamental Condition. 11 Notwithstanding anything hereinbefore contained if less than 50 per cent. in aggregate nominal amount of the Preferential Stock (or such lesser nominal amount as the Company shall within fourteen days after the holding of the meetings convened by Order of the Court for the purpose of considering this Scheme by Resolution of its Board of Directors decide) falls to be treated as assented Preferential Stock for the purposes of this Scheme, this Scheme shall not be capable of becoming effective. Dated 25th August, 1966. The 51/2 per cent. Unsecured Loan Stock 1991/2006 (“the 51/2 per cent. Stock”) and the 73/4 per cent. Unsecured Loan Stock 1991/2006 (“the 73/4 per cent. Stock”) – together referred to herein as “the Stocks” – will be created by a Resolution of the Board of Directors and will be constituted by a Trust Deed in favour of The Law Debenture Corporation, Limited, as Trustees. The Trust Deed will contain provisions, inter alia, to the following effect:–
Fundamental Condition. It is a fundamental condition to Seller A's sale of the Sale Shares to Purchaser under this Agreement that the Warranties shall cover only the Seller's Management Period. Seller A does not warrant any condition, status or occurrence, and shall not be liable for anything, that accrued or transpired before the commencement of the Seller's Management Period.
Fundamental Condition. As a fundamental condition of this Agreement, the Client acknowledges and agrees that any statement, information or advice provided by ▇▇▇▇▇ and its Personnel (including information displayed on its website ▇▇▇.▇▇▇▇▇.▇▇▇ and in its marketing and promotional material) prior to, during and after the expiration of the Agreement is general in nature and should not be relied upon by any person as legal advice or otherwise.
Fundamental Condition. Students who wish to participate in language courses at GI must be at least 16 years old. This does not apply to courses for children and youth. In the latter case, the consent of their statutory representative (i.e. guardian) is required.
Fundamental Condition. It is a fundamental condition of this Agreement that notwithstanding the term of this Agreement, and subject to ninety (90) days’ written notice, the Union shall vacate the Premises, at the request of the Employer, should the Employer deem it necessary, in its sole discretion, to use the Premises for other University purposes, including the disposition of the Building. Should such action be deemed necessary by the Employer, in its sole discretion, this Agreement shall terminate without any further obligations by the Employer. Should the Employer identify the existence of available space on University property in the vicinity of Downtown Campus responding to section 9.10 of the Collective Agreement, the Employer shall offer such space to the Union on terms to be negotiated between the Parties. The Employer will inform the Union of the exact location of such space as soon it is identified. Where available, the Employer shall offer a space accessible to persons with mobility limitations.