Subsequent Disqualification Sample Clauses

The Subsequent Disqualification clause defines the conditions under which a party, initially qualified to participate in an agreement or process, may later become disqualified due to specific events or changes in status. Typically, this clause outlines triggers such as breaches of contract, failure to meet ongoing eligibility requirements, or the discovery of disqualifying information after the initial qualification. Its core practical function is to protect the integrity of the agreement or process by ensuring that only parties who continue to meet all necessary criteria remain eligible, thereby mitigating risks associated with non-compliance or unforeseen changes.
Subsequent Disqualification. If prior to Settlement, Buyer receives written notice from the Lender that the Lender does not approve the Permanent Loan (a "Loan Denial"), Buyer shall, no later than three calendar days thereafter, provide a copy to Seller. Buyer or Seller may, within three calendar days after Seller's receipt of such notice, cancel this Contract by providing written notice to the other party; whereupon the non-refundable portion of the ▇▇▇▇▇▇▇ Money Deposit shall be released to Seller and the refundable portion to Buyer.
Subsequent Disqualification