Reciprocal Obligation Clause Samples
A Reciprocal Obligation clause establishes that each party to an agreement has corresponding duties or responsibilities toward the other. In practice, this means that the performance of one party is contingent upon the performance of the other, such as when payment is due only after delivery of goods or services. This clause ensures fairness and balance in contractual relationships by making obligations mutual, thereby reducing the risk that one party will be required to perform without receiving the agreed-upon consideration in return.
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Reciprocal Obligation. Green will issue 75,654 (Seventy Five Thousand Six Hundred Fifty Four) shares of its Series B Preferred Stock to DVC (the Settlement Shares). These shares would be delivered to DVC upon the final execution of this Agreement by both parties.
Reciprocal Obligation. Each party hereto agrees that it will treat, both during the term of this Agreement (including any renewals thereof) and after termination of this Agreement, as confidential and secret all information, including discoveries, customer lists, trade secrets, documents, bids, proposals, contracts, marketing plans and strategies, computer software, proprietary computer hardware, pricing policies, financial information, and all other information and data of the other party that has not become public information ("Confidential Information"), and that it will not, directly or indirectly, make known, divulge or use any such Confidential Information other than in accordance with this Agreement or as required by law.
Reciprocal Obligation. ARIO will deliver to NIR Group LLC a promissory note in the sum of of the Recital Amount shown above and in Exhibit A attached to AJWO as the Holder of the said note (the “New Note”). This New Note would be delivered to AJWO upon the final execution of this Agreement by the parties.
Reciprocal Obligation. Any thing herein to the contrary notwithstanding, each party, to the extent permitted by applicable law, shall be liable to the other party for the acts and omissions of each party’s respective officers, agents, and employees. To the extent covered by applicable insurance, each party waives subrogation.
Reciprocal Obligation. Should discussions between you and us require or entail disclosure of any of your confidential or proprietary information to us, we agree to the same obligations of confidentiality and non-use as are imposed on you by this Agreement.