Common use of SUSPENSIVE CONDITION Clause in Contracts

SUSPENSIVE CONDITION. 2.1 The Agreement, save for the provisions of this clause 2 and clauses 18, 23, 26, 27 and 30 to 42 (inclusive) which shall be of immediate force and effect, is subject to the fulfilment of the suspensive condition that the Merchant enters into an agreement with the relevant bank(s) which will regulate his business relationship with such Bank(s), as well as NuPay and that the Merchant will solicit a surety to the satisfaction of NuPay in terms of clause 37 of this Agreement which details are stipulated in the Company Resolution signed by the Merchant’s duly authorized signatories (“suspensive condition”).