Prohibited contract terms Sample Clauses
The "Prohibited contract terms" clause defines specific terms or conditions that are not allowed to be included in a contract. Typically, this clause lists certain provisions—such as those that waive statutory rights, impose unfair penalties, or restrict legal remedies—that are considered invalid or unenforceable if present. By clearly identifying and excluding these terms, the clause helps ensure that the contract remains fair, legally compliant, and protects parties from agreeing to terms that could be deemed abusive or unlawful.
Prohibited contract terms. A na- tional bank may not offer debt can- cellation contracts or debt suspension agreements that contain terms:
(1) Giving the bank the right unilat- erally to modify the contract unless:
(i) The modification is favorable to the customer and is made without ad- ditional charge to the customer; or
(ii) The customer is notified of any proposed change and is provided a rea- sonable opportunity to cancel the con- tract without penalty before the change goes into effect; or
(2) Requiring a lump sum, single pay- ment for the contract payable at the outset of the contract, where the debt subject to the contract is a residential mortgage loan.
Prohibited contract terms. The prohibited contract terms and conditions enumerated in Tenn. Code ▇▇▇. § 12-3-515, shall be a material provision of this Contract. The Contractor acknowledges, understands, and agrees that the inclusion of a term or condition prohibited by Tenn. Code ▇▇▇. § 12-3-515, shall be null and void and the Contract shall be enforceable as if the Contract did not contain such term or condition.
Prohibited contract terms. The prohibited contract terms and conditions enumerated in Pub. Ch. 113, § 5, shall be a material provision of this Contract. The Contractor acknowledges, understands, and agrees that the inclusion of a term or condition prohibited by Pub. Ch. 113, § 5, shall be null and void and the Contract shall be enforceable as if the Contract did not contain such term or condition.