Condition Precedent definition
Examples of Condition Precedent in a sentence
Subject to the satisfaction or waiver of the Condition Precedent, Completion must take place by electronic means at 11:00am (AEST) on the Completion Date or such other place, date or time agreed in writing between the parties.
The parties’ obligations to complete the sale and purchase of the Completion Sale Shares is subject to and conditional upon the satisfaction or waiver (in accordance with clause 4.2) of the Condition Precedent.
A Participating Party may terminate this deed by giving notice in writing to the other parties if the Condition Precedent is not satisfied, or waived in accordance with clause 4.2, before 5.00pm on the Condition Precedent End Date.
The Condition Precedent may only be waived in writing by the Buyer and will be effective only to the extent specifically set out in that waiver.