Material Conditions definition
Examples of Material Conditions in a sentence
If the approval of the Competition Office contains Material Condition(s), the Parties shall promptly discuss the possibility of meeting the Material Condition, and in any event the Purchaser shall notify the Vendors within 8 Business Days following the receipt by the Purchaser of approval of the Competition Office the Vendors in writing whether or not it accepts the Material Condition(s).
Buyer and Seller shall treat all information regarding any environmental conditions as confidential, whether or not Material Conditions exist, and shall not make any contact with any governmental authority or third party regarding same without written consent from the other Party unless so required by applicable law.
If the total of all Base Purchase Price adjustments due to Material Conditions exceeds five percent (5%) of the total Base Purchase Price, Seller or Buyer may terminate this Agreement and have no further obligations hereunder other than for those obligations that expressly survive a termination hereof.
On or prior to the Development Rights Fee Funding Date, the Material Conditions shall have been satisfied, and the Parties shall execute and deliver those documents and agreements contemplated pursuant to the Approved Master Plan and this Agreement.
The New Board shall have between seven (7) and eleven (11) members, consisting of the chief executive officer of reorganized USEC and between six (6) and ten (10) members (all of whom shall be U.S. citizens, except and to the extent that mitigation measures acceptable to the NRC and DOE are in place), including the Chairperson, which shall be the individuals identified in connection with satisfaction of the Material Conditions.
Should the Entity fail to pay any charges defined as Material Conditions in Section 4.6 above, such failure shall not be subject to the default remedies provided in Section 10.2 below but shall allow the Borough to proceed immediately to terminate the Agreement as provided in Article XI below.
Notwithstanding the foregoing, the payment of the Land Taxes, Administrative Fee or Annual Service Charge, as the case may be, are Material Conditions of this Agreement which shall not be excused by the occurrence of a Force Majeure event.
The conditions precedent to the Development Rights Fee Funding Date (including without limitation, the Material Conditions) shall be governed by the terms of the Original Redevelopment Agreement, as amended hereby.
The parties acknowledge and agree that, as of the Development Rights Fee Funding Date, all Material Conditions have not been satisfied or waived but Developer has elected to proceed to make payment of the Development Rights Fee reserving its Unwind Rights as set forth in Section 5.2(e)(iii) of the Original Redevelopment Agreement and Authority has agreed to accept same.
The required consent of the Wisconsin Commissioner of Insurance shall have been obtained without any Material Conditions imposed on Target or Purchaser or any of their Subsidiaries.