Essential Term definition

Essential Term includes, in the case of breach by:

Essential Term means those terms in clauses 10.3 and 14 of the Framework ILUA and clauses 7.1, 7.2, 7.3.1,

Essential Term means any term in these Standard Terms and Conditions which is expressly stated to be an Essential Term and also means any term which the parties expressly state in any Special Conditions to be an Essential Term. “Essential Term” also includes any term which, by its nature and importance, one or other of the parties would not enter into this Contract without that term being included.

Examples of Essential Term in a sentence

• May Affirm or Terminate Without limiting any other right or remedy of the parties including those under this contract or any right at law or in equity, if the Seller or Buyer, as the case may be, fails to comply with an Essential Term, or makes a fundamental breach of an intermediate term, the Seller (in the case of the Buyer’s default) or the Buyer (in the case of the Seller’s default) may affirm or terminate this contract.

• May Affirm or Terminate Without limiting any other right or remedy of the parties including those under this contract or any right at common law, if the Seller or Buyer, as the case may be, fails to comply with an Essential Term, or makes a fundamental breach of an intermediate term, the Seller (in the case of the Buyer’s default) or the Buyer (in the case of the Seller’s default) may affirm or terminate this contract.

• If there is a disagreement as to whether a term is an Essential Term, the matter will be reasonably determined by Fast Twitch.

• If the Customer fails or refuses for any reason whatsoever to return or make available for collection all the Equipment to the Owner then the Customer will be in breach of an Essential Term of this Contract and without prejudice to any other rights which the Owner may have, either pursuant to these Terms or at law, the Customer will be liable to pay the Owner on a Day-Rate basis for the hiring of the Equipment for such further period of time until returned to the Owner’s Premises.

• Without limiting any other right or remedy of the parties including those under this contract or any right at common law, if the Seller or Buyer, as the case may be, fails to comply with an Essential Term, or makes a fundamental breach of an intermediate term, the Seller (in the case of the Buyer’s default) or the Buyer (in the case of the Seller’s default) may affirm or terminate this contract.

More Definitions of Essential Term

Essential Term means a clause in Schedule 1 that is an essential term under regulation 47;

Essential Term means the terms specified in Clause 30 any other term stated in this contract to be an essential term and any other term a Court finds to be essential.

Essential Term means in case of a breach by: (a) the Buyer: (i) clause 4.1(b) (Balance Purchase Price) (ii) clause 5 (Deposit); (iii) clause 6.1 (Settlement); (iv) clause 16.5 (Proxy); (v) clause 35 (Buyer as Trustee); (vi) clause 38 (Buyer's Warranties); and (vii) clause 40 (Time of the Essence) (b) the Seller: (i) clause 6.2 (Settlement); and (ii) clause 40 (Time of the Essence) but nothing in this definition precludes a Court from finding other terms to be essential.

Essential Term means a term of this Agreement that is specifically identified as an Essential Term or is a term of this Agreement which by its nature is of fundamental importance to either party and if not included that party would not have entered this Agreement.

Essential Term includes, in the case of breach by: (hh) “PPSR” means the Personal Property Securities Register established under Personal Property

Essential Term means a term of this Lease which the parties agree is a fundamental condition, the breach of which by a party will entitle the other party to terminate this Lease. “Event of Default” means any default or breach of the terms of this Lease by the Lessee of any of its covenants, obligations or undertakings as set out in this Lease and without limitation includes the “Events of Default” set out in Clause 15.

Essential Term includes, in the case of breach by: (i) the Buyer: clauses 2.2, 2.5(1), 5.1 and 6.1; and