Simultaneous Agreement Clause Samples
A Simultaneous Agreement clause establishes that two or more related agreements are to be executed and become effective at the same time. In practice, this means that the parties will not be bound by one agreement unless the other related agreements are also signed, such as in transactions involving a purchase agreement and a separate escrow agreement. This clause ensures that all interconnected obligations commence together, thereby preventing a party from being obligated under one contract without the assurance that the corresponding agreements are also in force.
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Simultaneous Agreement. This Agreement is entered into simultaneously with a Stockholder Agreement among Stockholder No. 1, Parent and certain other persons.
Simultaneous Agreement. The parties acknowledge and agree that this Agreement is being entered into simultaneously with, and is contingent upon, execution of a Restricted Stock Agreement by and between DriveTime Automotive Group, Inc., a Delaware corporation, and the CEO (the “DTAG Agreement”). The terms of the DTAG Agreement are substantially identical to the terms of this Agreement, except that the DTAG Agreement provides for issuance of an identical number of shares of Common Stock of DriveTime Automotive Group, Inc. to the CEO and all provisions governing the DTAG Agreement relate to shares of Common Stock of DriveTime Automotive Group, Inc.. The parties acknowledge and agree that any exercise of redemption rights, rights of first refusal, repurchase rights, put rights, or any other rights, duties or obligations set forth herein with respect to the Remaining Shares shall be exercised simultaneously for an equivalent number of shares of Common Stock of DriveTime Automotive Group, Inc. pursuant to the corresponding provisions of the DTAG Agreement.
Simultaneous Agreement. Simultaneous with the signing of this agreement, the Town will sign an agreement (“Agreement #2”) with the Abutters setting forth additional terms relating to the Parking Lot, including specific requirements for fencing, buffering, lighting and operation of the Parking Lot. This agreement will not be signed unless and until the Abutters and the Town have agreed to sign Agreement #2.
Simultaneous Agreement. The parties acknowledge and agree that this Agreement is being entered into simultaneously with, and is contingent upon, execution of a Restricted Stock Agreement by and between DT Acceptance Corporation, an Arizona corporation, and the CEO (the “DTAC Agreement”). The terms of the DTAC Agreement are substantially identical to the terms of this agreement, except that the DTAC Agreement provides for issuance of an identical number of shares of Common Stock of DT Acceptance Corporation to the CEO and all provisions governing the DTAC Agreement relate to shares of Common Stock of DT