TIME IS OF THE ESSENCE OF THIS AGREEMENT Sample Clauses
The "Time is of the Essence" clause establishes that all deadlines and timeframes specified in the agreement are critical and must be strictly adhered to by the parties involved. In practice, this means that if a party fails to perform an obligation by the agreed-upon date or within a specified period, it may be considered a material breach of contract, potentially entitling the other party to remedies such as termination or damages. The core function of this clause is to emphasize the importance of timely performance, ensuring that delays are not tolerated and that both parties are clear about the consequences of missing deadlines.
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TIME IS OF THE ESSENCE OF THIS AGREEMENT. In computing the number of days for purposes of this Agreement, all days shall be counted, including Saturdays, Sundays and holidays; provided, however, that if the final day of any time period provided in this Agreement shall end on a Saturday, Sunday or legal holiday, then the final day shall extend to 5:00 p.m. Eastern time of the next full business day. For the purposes of this Section, the term “holiday” shall mean a day other than a Saturday or Sunday on which banks are closed in the state in which the Real Property is located.
TIME IS OF THE ESSENCE OF THIS AGREEMENT. In computing the number of days for purposes of this Agreement, all days shall be counted, including Saturdays, Sundays and holidays (unless “business days” is specified, in which case
TIME IS OF THE ESSENCE OF THIS AGREEMENT. If the conditions described in Section 6 above are satisfied or waived by Buyer and Buyer fails or refuses to close this transaction, through no fault of Seller, Seller will be entitled to retain or collect all Xxxxxxx Money paid or agreed to be paid, as liquidated damages, and this Agreement will be of no further effect, it being the intention of the parties that Buyer may forfeit the Xxxxxxx Money and be free of any further obligations under this Agreement. If Seller fails to deliver the Deed described in Section 7 on the Closing Date or otherwise fails or refuses to close this transaction, through no fault of Buyer, all Xxxxxxx Money will be refunded to Buyer. The parties intend that acceptance by Buyer of the refund will not constitute a waiver of other remedies available to Buyer and that Buyer will retain all available remedies for breach of contract, including but not limited to the right of specific performance. In the event that this Agreement is terminated as permitted under this Agreement, any and all rights or obligations of Seller and Buyer shall terminate and be of no further force or effect, except as otherwise set forth in this Agreement. Buyer retains all rights at law and equity, including but not limited the right to compel specific performance.
TIME IS OF THE ESSENCE OF THIS AGREEMENT. The captions in this Agreement are inserted for convenience of reference only and do not define, describe, or limit the scope or intent of this Agreement or any of its terms.
TIME IS OF THE ESSENCE OF THIS AGREEMENT. All parties agree to execute, make and deliver all necessary documents and funds to close this transaction. Closing means the execution and delivery of the promissory notes, deed of trust, other required documents, payment of required cash by Buyer and Seller or as provided herein.
TIME IS OF THE ESSENCE OF THIS AGREEMENT. In computing the number of days for purposes of this Agreement, all days shall be counted, including Saturdays, Sundays and holidays (unless "business days" is specified, in which case Saturdays, Sundays and holidays shall not be counted); provided, however, that if the final day of any time period provided in this Agreement shall end on a Saturday, Sunday or legal holiday, then the final day shall extend to 5:00 p.m. of the next full business day. For the purposes of this Section, the term "HOLIDAY" shall mean a day other than a Saturday or Sunday on which national banks in the State in which the Property is located are or may elect to be closed.
TIME IS OF THE ESSENCE OF THIS AGREEMENT. All remedies available to Manager either under the terms of this Rental Agreement or the laws of the State of Idaho are cumulative and are not intended to be exclusive of other remedies or means or redress to which the Manager is lawfully entitled. Contact information for the owner/manager is: Xxxxxx Xxxxxx (000) 000-0000 00000 Xxxxxxxx Xxx. Hayden, ID 83835-9719
TIME IS OF THE ESSENCE OF THIS AGREEMENT. This Agreement constitutes the sole and entire agreement of the Parties and is binding upon Xxxxxx and Xxxxx, their heirs, successors, legal representatives and assigns.
TIME IS OF THE ESSENCE OF THIS AGREEMENT. Seller shall perform all of its obligations for delivery of the goods on or before the date designated herein or approved in writing by Xxxxxx Xxxxx. Upon Seller’s failure to make timely delivery of the goods, Xxxxxx Xxxxx shall have all of the rights of a buyer described in Uniform Commercial Code, Article 2 in effect in the State [as defined herein], including, and without limitation, the right to cancel the Purchase Order and the right to obtain cover.
TIME IS OF THE ESSENCE OF THIS AGREEMENT. This Agreement supersedes any letter of intent or prior agreement between Developer and the City and constitutes the entire agreement of the Parties relating to the subject matter hereof, and is binding upon Developer and the City, their heirs, successors, legal representatives and assigns.