Condition 7 Clause Samples

Condition 7 typically sets out specific requirements or circumstances that must be met for certain obligations or rights under a contract to take effect. In practice, this clause might outline prerequisites such as obtaining regulatory approvals, delivering particular documents, or achieving certain milestones before a party is required to perform. By clearly defining these conditions, the clause helps ensure that both parties understand when their duties become enforceable, thereby reducing the risk of disputes and providing a structured framework for the progression of contractual obligations.
Condition 7. An actual price increase has occurred and can be substantiated by the Engineering News-Record 20-City Average Material Cost Index for the material at issue that demonstrates the increase in price of the material during the period of the delay; and
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Condition 7. 1.1 is varied to read, "If any plan or statement in the contract or in written replies which the seller's conveyancer has given to the buyer's conveyancer before the date of the contract is or was misleading or inaccurate due to any error or omission, the remedies available are as follows."
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Condition 7. 4.2 is varied by the addition of the following at the end: “The Seller shall not be required to include any matter in the statutory declaration which is not after reasonable enquiry within its personal knowledge”.
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Related to Condition 7

  • Frustration of Closing Conditions None of Parent, Merger Sub Inc.or the Company may rely on the failure of any condition set forth in Section 9.1, Section 9.2 or Section 9.3, as the case may be, to be satisfied if such failure was caused by such Party’s failure to use its reasonable best efforts to consummate the Merger and the other transactions contemplated hereby, or other breach of or noncompliance with this Agreement.

  • CONDITIONS TO BUYER'S OBLIGATION TO PURCHASE The obligation of Buyer hereunder to purchase the Securities at the Closing is subject to the satisfaction, at or before the Closing Date of each of the following conditions, provided that these conditions are for Buyer’s sole benefit and may be waived by ▇▇▇▇▇ at any time in its sole discretion: (a) The Company shall have executed this Agreement and delivered the same to Buyer. (b) The Company shall have delivered to Buyer the duly executed Note in such denominations as Buyer shall request and in accordance with Section 1(b) above. (c) The Irrevocable Transfer Agent Instructions, in form and substance satisfactory to Buyer, shall have been delivered to and acknowledged in writing by the Company’s Transfer Agent. (d) The representations and warranties of the Company shall be true and correct in all material respects as of the date when made and as of Closing Date, as though made at such time (except for representations and warranties that speak as of a specific date) and the Company shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. (e) No litigation, statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any self-regulatory organization having authority over the matters contemplated hereby which prohibits the consummation of any of the transactions contemplated by this Agreement. (f) No event shall have occurred which could reasonably be expected to have a Material Adverse Effect on the Company. (g) Trading in the Common Stock on the Principal Market shall not have been suspended by the SEC, FINRA or the Principal Market. (h) The Company shall have delivered to Buyer (1) a certificate evidencing the formation and good standing of the Company in such entity’s jurisdiction of formation issued by the Secretary of State (or comparable office) of such jurisdiction, as of a date within twenty (20) days of the Closing Date and (2) resolutions adopted by the Company’s Board of Directors at a duly called meeting or by unanimous written consent authorizing this Agreement and all other documents, instruments and transactions contemplated hereby.

  • Covenants and Conditions Each provision of this Lease performable by Lessee shall be deemed both a covenant and a condition.

  • Condition Subsequent This Agreement shall terminate, automatically, without any procedures being taken, in the event that the Qualified Person is not in the position of director, corporate executive officer, or employee of the Corporation or of the Sony Group Companies on the Allotment Date.

  • Covenants, Conditions and Restrictions This Lease is subject to the effect of (i) any covenants, conditions, restrictions, easements, mortgages or deeds of trust, ground leases, rights of way of record and any other matters or documents of record; and (ii) any zoning laws of the city, county and state where the Building is situated (collectively referred to herein as "Restrictions") and Tenant will conform to and will not violate the terms of any such Restrictions.