Suspensive Condition definition
Examples of Suspensive Condition in a sentence
Should the Purchaser for whatsoever reason not within the aforesaid time period provide to the Agent with the required proof that an application for bond financing was submitted by the Purchaser the Suspensive Condition referred to above shall be accepted as being waived by the Purchaser alternatively shall be deemed to be fulfilled.
The remainder of this Agreement shall come into force and effect on the fulfilment or waiver, as the case may be, of the Suspensive Condition.
In the event the Purchaser for whatsoever reason does not within the aforesaid time period provide to the Agent’s Bond Originator all the required documentation as requested, the Suspensive Condition referred to above shall be accepted as being waived by the Purchaser alternatively shall be deemed to be fulfilled.
The Purchaser may nonetheless, by giving written notice to that effect to the Seller on or before the date for fulfilment of any such Suspensive Condition, postpone the date for fulfilment of any one or more of the Suspensive Conditions on one occasion each to a date not more than 60 days later than the date for fulfilment of any such Suspensive Condition.
If any Suspensive Condition is not fulfilled for any reason whatsoever and is not waived, the Related Party Lease Agreement shall be of no force or effect.