Contractual Interests Clause Samples

The 'Contractual Interests' clause defines the rights or benefits that a party is entitled to under the terms of the contract, typically relating to financial gains such as interest payments or other accrued entitlements. This clause may specify how and when interest is calculated on overdue payments, the applicable interest rate, and the circumstances under which such interest becomes payable. Its core practical function is to incentivize timely performance, particularly in financial obligations, and to compensate a party for delays or breaches, thereby allocating risk and ensuring fairness in the contractual relationship.
Contractual Interests. The Location Agreements are in full force and effect. To the best of Seller's knowledge there are no existing defaults under these agreements on the part of Seller, which are, individually or in the aggregate, material to the operation of the Assets. All available originals, and where none is available an exact copy, if available, of each Location Agreement as scheduled at Exhibit 1-b and associated documents have been furnished to the Purchaser. The Seller is not a party to any other material contract, agreement or understanding (whether oral or written) relating to the Assets or Location Agreements.
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Contractual Interests. The Seller is not a party to any material contract, agreement or understanding (whether oral or written) relating to the Business, other than as set forth in Section 7(c).
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Related to Contractual Interests

  • Contractual Rights The right to be indemnified or to receive advancement of Expenses under this Agreement (i) is a contract right based upon good and valuable consideration, pursuant to which Indemnitee may ▇▇▇, (ii) is and is intended to be retroactive and shall be available as to events occurring prior to the date of this Agreement and (iii) shall continue after any rescission or restrictive modification of this Agreement as to events occurring prior thereto.

  • EXTRA CONTRACTUAL OBLIGATIONS In the event Retrocedant or Retrocessionaire is held liable to pay any punitive, exemplary, compensatory or consequential damages because of alleged or actual bad faith or negligence related to the handling of any claim under any Reinsurance Contract or otherwise in respect of such Reinsurance Contract, the parties shall be liable for such damages in proportion to their responsibility for the conduct giving rise to the damages. Such determination shall be made by Retrocedant and Retrocessionaire, acting jointly and in good faith, and in the event the parties are unable to reach agreement as to such determination, recourse shall be had to Article XV hereof.

  • Contractual Obligations and Similar Investments From time to time, the Fund's Investments may include Investments that are not ownership interests as may be represented by certificate (whether registered or bearer), by entry in a Securities Depository or by Book-Entry Agent, registrar or similar agent for recording ownership interests in the relevant Investment. If the Fund shall at any time acquire such Investments, including without limitation deposit obligations, loan participations, repurchase agreements and derivative arrangements, the Custodian shall (a) receive and retain, to the extent the same are provided to the Custodian, confirmations or other documents evidencing the arrangement; and (b) perform on the Fund's account in accordance with the terms of the applicable arrangement, but only to the extent directed to do so by Instruction. The Custodian shall have no responsibility for agreements running to the Fund as to which it is not a party other than to retain, to the extent the same are provided to the Custodian, documents or copies of documents evidencing the arrangement and, in accordance with Instruction, to include such arrangements in reports made to the Fund.

  • Contractual Documents Model Performance Bond

  • Maximum Contractual Obligation The maximum obligation of COUNTY under this Agreement shall not exceed the amount of $970,800 or actual allowable costs, whichever is less. The estimated annual amount for each twelve (12) month period is as follows: 21.1.1 Year One: $300,000 for July 1, 2020, through June 30, 2021; 21.1.2 Year Two: $300,000 for July 1, 2021, through June 30, 2022; and 21.1.3 Year Three: $370,800 for July 1, 2022, through June 30, 2023.