Contracts Contingent on Each Other Clause Samples

The "Contracts Contingent on Each Other" clause establishes that the validity or enforceability of one contract depends on the execution or fulfillment of another related contract. In practice, this means that if one agreement is not completed or is terminated, the other contract may also be rendered void or unenforceable. This clause is commonly used in complex transactions where multiple agreements are interdependent, such as in mergers involving asset transfers and employment agreements. Its core function is to ensure that parties are not bound to perform under one contract unless all related agreements are also in effect, thereby protecting parties from partial or incomplete transactions.
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Contracts Contingent on Each Other. Notwithstanding anything contained in this Agreement or any Companion Contract to the contrary, Seller’s and Buyer’s obligations under this Agreement are expressly contingent upon the closing of the transactions contemplated by the Companion Contracts being consummated contemporaneously with the Closing hereunder. In that regard, unless the Parties otherwise expressly agree in a writing signed by the Parties, in the event that either of the Companion Contracts are terminated for any reason whatsoever (except as a result of a default by Buyer thereunder, which default shall be governed by Section 10.1 above), this Agreement shall terminate automatically as well, in which event the Deposit shall be promptly returned to Buyer and the Parties shall have no further rights or obligations hereunder except for those obligations which expressly survive termination of this Agreement. Notwithstanding the foregoing or any other provision of this Agreement, if the Closing under one of the Companion Contracts is extended for any reason, relating to tenant estoppels, the Closing Date hereunder shall be deemed extended to the date of the extended Closing under such Companion Contract.
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Related to Contracts Contingent on Each Other

  • OBLIGATIONS CONTINGENT ON PERFORMANCE The obligations of the Employer hereunder, including its obligation to pay the compensation provided for herein, are contingent upon the Executive's performance of the Executive's obligations hereunder.

  • Litigation and Contingent Obligations There is no litigation, arbitration, governmental investigation, proceeding or inquiry pending or, to the knowledge of any of their officers, threatened against or affecting the Borrower or any of its Subsidiaries which could reasonably be expected to have a Material Adverse Effect or which seeks to prevent, enjoin or delay the making of any Loans. Other than any liability incident to any litigation, arbitration or proceeding which could not reasonably be expected to have a Material Adverse Effect, the Borrower has no material contingent obligations not provided for or disclosed in the financial statements referred to in Section 5.4.

  • Permitted Contingent Obligations Contingent Obligations (a) arising from endorsements of Payment Items for collection or deposit in the Ordinary Course of Business; (b) arising from Hedging Agreements permitted hereunder; (c) existing on the Closing Date, and any extension or renewal thereof that does not increase the amount of such Contingent Obligation when extended or renewed; (d) incurred in the Ordinary Course of Business with respect to surety, appeal or performance bonds, or other similar obligations; (e) arising from customary indemnification obligations in favor of purchasers in connection with dispositions of Equipment permitted hereunder; (f) arising under the Loan Documents; (g) guaranties of Permitted Debt; or (h) in an aggregate amount of $250,000 or less at any time.

  • CONTINGENT FEE AGREEMENT A. The Attorneys shall advance all expenses in the Litigation. The Client is not liable to pay any of the expenses of the Litigation, whether attorneys' fees or costs. Recovery of costs and other expenses is contingent upon a recovery being obtained. If no recovery is obtained, Client will owe nothing for costs and other expenses. In the event that an order is entered awarding costs and expenses in favor of defendants, Attorneys will be responsible for such costs and expenses, not the Client. B. If there is a recovery in the Litigation, whether by settlement or judgment, the Attorneys shall be compensated via payment of a reasonable percentage of any recovery as approved by the Court, which amount shall include attorneys’ fees plus reasonable disbursements in the Litigation. “Disbursements” shall include, but not be limited to, costs of travel, telephone, copying, fax transmission, depositions, investigators, messengers, mediation expenses, computer research fees, court fees, expert fees, other consultation fees and paralegal expenses. Any recovery in the Litigation shall first be used to reimburse disbursements.

  • No Contingent Fees The Contractor warrants that no person or selling agency has been employed or retained to solicit or secure the Contract upon any agreement or understanding for commission, percentage, brokerage, or contingent fee, excepting bona fide employees of bona fide established commercial or selling agencies maintained by the Contractor for the purpose of securing business. For breach or violation of this warranty, the City shall have the right, in addition to any other remedy available, to cancel the Contract without liability and to deduct from any amounts owed to the Contractor, or otherwise recover, the full amount of such commission, percentage, brokerage or contingent fee.