Challenges to Transaction Clause Samples

The "Challenges to Transaction" clause defines the procedures and conditions under which a party may contest, object to, or otherwise challenge the validity or enforceability of a transaction. Typically, this clause outlines the specific grounds for raising a challenge, such as fraud, misrepresentation, or failure to meet regulatory requirements, and may set forth the timeframes and processes for submitting such challenges. By establishing clear rules for disputing a transaction, this clause helps ensure that any objections are handled in an orderly and predictable manner, thereby reducing uncertainty and potential disputes between the parties.
Challenges to Transaction. In the event any proceeding is filed that contests, directly or indirectly, the validity of this Agreement, including any of the Contract Documents, whether pursuant to Code of Civil Procedure section 860, et. seq., or any other regulation, statute, ordinance, or law (hereinafter referred to as a "Reverse Validation Action"), the Contractor’s rights and obligations under this Agreement and any of its part may be immediately suspended and/or terminated for convenience, at District or Contractor's option. If either party elects to terminate for convenience, Contractor’s compensation shall be in accordance with the Termination for Convenience provisions in the Contract Documents.
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Challenges to Transaction. Notwithstanding any provision in the Site Lease, Facilities Lease, or any other Contract Document with District, Contractor’s actual construction Work, and the Work or calendar days allowed for completion, shall not commence until at least ninety days (90) days following the authorized vote of the Owner's governing board to approve and enter into this Agreement with Contractor. Nothing herein will prevent Contractor from performing preconstruction Work prior to the expiration of the 90 day period. In the event any proceeding is filed that contests, directly or indirectly, the validity of this Agreement, including any of the Contract Documents, whether pursuant to Code of Civil Procedure section 860, et. seq., or any other regulation, statute, ordinance, or law (hereinafter referred to as a "Reverse Validation Action"), Contractor's rights and obligations under this Agreement and any of its part may be immediately suspended and/ or terminated for convenience, at District or Contractor's option. If either party elects to terminate for convenience, Contractor’s compensation shall be in accordance with the Termination for Convenience provisions in the Contract Documents.
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Challenges to Transaction. In the event any proceeding is filed that contests, directly or indirectly, the validity of this Agreement, including any of the Contract Documents, whether pursuant to Code of Civil Procedure section 860, et. seq., or any other regulation, statute, ordinance, or law (hereinafter referred to as a "Reverse Validation Action"), the &RQWUDriFghWtsRanUd¶obVligations under this Agreement and any of its part may be immediately suspended and/or terminated for convenience, at District or Contractor's option. If HLWKHU SDUW\ HOHFWV WR WHUPLQDWH IRU FRQYHQLHQ accordance with the Termination for Convenience provisions in the Contract Documents.
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Related to Challenges to Transaction

  • Challenges The Experts may be challenged by either Party if circumstances exist that give rise to justifiable doubts as to any of their impartiality or independence. In such circumstances the challenge shall be brought by written notice to the ICC copied to the other Party within fourteen (14) calendar days of the appointment of the relevant Expert or within fourteen (14) calendar days of the challenging Party becoming aware of the circumstances giving rise to the challenge. Unless the challenged Expert withdraws. or whichever of the Parties that has not brought the challenge agrees to the challenge, within fourteen (14) calendar days of the challenge, the ICC shall decide the challenge and, if appropriate, shall appoint a replacement Expert in accordance with the criteria set out herein.

  • Portfolio Transactions The Manager is authorized to select the brokers or dealers that will execute the purchases and sales of portfolio securities for the Portfolio and is directed to use its best efforts to obtain the best available prices and most favorable executions, except as prescribed herein. It is understood that the Manager will not be deemed to have acted unlawfully, or to have breached a fiduciary duty to the Fund or to the Portfolio, or be in breach of any obligation owing to the Fund or to the Portfolio under this Agreement, or otherwise, solely by reason of its having caused the Portfolio to pay a member of a securities exchange, a broker, or a dealer a commission for effecting a securities transaction for the Portfolio in excess of the amount of commission another member of an exchange, broker, or dealer would have charged if the Manager determines in good faith that the commission paid was reasonable in relation to the brokerage or research services provided by such member, broker, or dealer, viewed in terms of that particular transaction or the Manager’s overall responsibilities with respect to its accounts, including the Fund, as to which it exercises investment discretion. The Manager will promptly communicate to the officers and directors of the Fund such information relating to transactions for the Portfolio as they may reasonably request.