Material Terms and Conditions Clause Samples
The 'Material Terms and Conditions' clause defines the essential provisions of an agreement that are fundamental to the parties' rights and obligations. This clause typically identifies which terms—such as payment, delivery, confidentiality, or liability—are considered so significant that any breach of them may justify termination or legal remedies. By clearly specifying these key terms, the clause ensures that both parties understand which aspects of the contract are non-negotiable and critical to the agreement’s performance, thereby reducing ambiguity and helping to prevent disputes over what constitutes a serious breach.
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Material Terms and Conditions. XIth Issue Stipulated as under :- XIIth Issue Stipulated as under :-
Material Terms and Conditions. The Licensee specifically agrees that, without affecting the materiality of any other provision of this ▇▇▇▇, each of the terms and conditions of this section are material and that failure of the Licensee to comply with these terms and conditions will constitute sufficient cause for ▇▇▇▇▇▇ to immediately terminate this ▇▇▇▇.
Material Terms and Conditions. You specifically agree that each of the terms and conditions of this Section 2 are material and that failure of you to comply with these terms and conditions shall constitute sufficient cause for AUTHOR to immediately terminate this Agreement and the License granted under this Agreement. The presence of this Section 2.8 shall not be relevant in determining the materiality of any other provision or breach of this Agreement by either party hereto.
Material Terms and Conditions. As per the terms of this Agreement, Fe▇▇▇▇▇ ▇hall be entitled to levy penal charges to the Borrower in the event of failure of any of the following Material Terms and Conditions mentioned herein below: ਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅ ਅਅਅਅਅਅ: ਅਅ ਅਅਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅਅ ਅਅ ਅਅਅਅਅਅ, Fedfina ਅਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅ ਅਅਅਅ ਅਅਅਅਅਅ ਅਅਅਅਅਅ ਅਅਅ ਅਅਅਅਅਅ ਅਅਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅ ਅਅਅਅਅਅ ਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅ ਅਅਅਅਅਅ ਅਅਅਅਅਅ:
(i) non-payment of Outstanding Amounts (or part thereof) on the respective due dates or as and when demanded by Fedfina; ਅਅਅਅਅ ਅਅਅ (ਅਅਅ ਅਅ ਅਅ ਅਅਅ ਅਅਅਅਅ) ਅਅ ਅਅਅਅਅਅ ਅਅਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅ 'ਅਅ ਅਅਅ Fe▇▇▇▇▇ ਅਅਅਅਅ ਅਅਅਅ ਅਅਅ 'ਅਅ ਅਅ ਅਅਅਅ;
(ii) If the Borrower fails to deliver repayment instrument for the entire term of the loan; ਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅਅ ਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅ ਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅਅ ਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅਅ ਅਅ;
(iii) any damages caused to the collateral offered as security for the Loan, which includes any construction / demolition made in the security without the prior permission of Fedfina, sub-letting the collateral, etc.; ਅਅਅਅਅ ਅਅਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅਅਅਅ ਅਅਅ ਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅਅਅਅ, ਅਅਅ ਅਅਅਅ Fedfina ਅਅ ਅਅਅਅਅ ਅਅਅਅਅਅ ਅਅਅ ਅਅਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅ ਅਅ ਅਅਅਅਅ / ਅਅਅਅਅਅ, ਅਅਅਅਅਅ ਅਅਅ ਅਅ-ਅਅਅਅਅਅ ਅਅਅ ਅਅਅਅਅ ਅਅ;
(iv) any Property offered as security for Loan, depreciates in value to such an extent that in the opinion of Fe▇▇▇▇▇, additional security should be given and such security is not given on written demand; ਅਅਅਅਅ ਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅ ਅਅ ਅਅਅਅਅਅ, ਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅ ਅਅਅ ਅਅਅਅ ਅਅ ਅਅ Fedfina ਅਅ ਅਅਅ ਅਅਅਅ, ਅਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅਅ ਅਅ ਅਅਅ ਅਅਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅਅਅ ਅਅਅ 'ਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅਅਅਅ;
(v) any property offered as security either in full or any part thereof is sold, disposed-off, charged, encumbered or alienated in any manner whatsoever without written approval of Fedfina; ਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅ ਅਅ ਅਅਅਅਅਅ ਅਅਅ ਅਅਅ ਅਅਅਅ ਅਅਅਅਅਅ ਅਅਅ ਅਅ ਅਅ ਅਅਅਅ ਅਅ ਅਅਅਅਅ ਅਅਅਅ Fedfina ਅਅ ਅਅਅਅਅ ਅਅਅਅਅਅਅਅ ਅਅਅ ਅਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅਅਅ ਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅ, ਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅ, ਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅ, ਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅ ਅਅਅ ਅਅਅ ਅਅ ਅਅਅਅਅ ਅਅਅਅਅ ਅਅ;
(vi) If an attachment or distrait is levied on the Property or any part thereof and/or proceedings are taken or commenced for recovery of any dues from the borrower against the Property. ਅਅ ਅਅਅਅਅਅ ਅਅਅ ਅਅ ਅਅ ਅਅਅਅ ਅਅਅਅਅ 'ਅਅ ਅਅਅਅਅ ਅਅਅ ਅਅਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅ ਅਅਅ/ਅਅਅ ਅਅਅਅਅਅ ਅਅ ਅਅਅਅਅਅ ਅਅਅਅਅਅਅ ਅਅਅ ਅਅਅਅ ਅਅਅਅ ਅਅ ਅਅਅਅਅ ਅਅ ਅਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅ ਅਅਅ ਅਅਅਅਅ ਅਅਅਅ ਅਅਅਅਅ ਅਅਅ
Material Terms and Conditions. Licensee specifically agrees that each of the terms and conditions of this Section 2 are material and that failure of Licensee to comply with these terms and conditions shall constitute sufficient cause for Licensor to immediately terminate this Agreement and the License granted under this Agreement. The presence of this Section 2f shall not be relevant in determining the materiality of any other provision or breach of this Agreement by either party.
Material Terms and Conditions. Licensee specifically agrees that each of the terms and conditions of this Section 2 are material and that the breach of any term or condition of this Section 2 in any material respect shall constitute an Event of Default to which the provisions of Section 12 of this Agreement apply.
Material Terms and Conditions. Licensee specifically agrees that each of the terms and conditions of this Section 1, including timely payment of all invoices, are material and that failure of Licensee to comply with these terms and conditions shall constitute a breach of this Agreement and shall be sufficient cause for Licensor to terminate this Agreement without further notice. The presence of this Subsection 1.f shall not be relevant in determining the materiality of any other provision or breach of this Agreement by either Party.
Material Terms and Conditions. Purchase Price The aggregate purchase price for the Transaction shall be approximately $365,000,000 (the “Purchase Price”), payable as follows: $350,000,000 of the Purchase Price will be paid to the Stockholders in immediately available funds on the Closing Date (as such term is defined below), net of the following amounts: - The Purchase Price shall be adjusted up or down for the difference between the working capital of the Included Subsidiaries at the Closing Date and the working capital of VECO as of March 31, 2007 of $59,836,009(1);
(1) Current Assets less Current Liabilities of VECO Corporation as of March 31, 2007, excluding cash and debt as reflected on the financial statements provided to CH2M HILL as part of the Letter of Intent ($218,770,000 - $158,944,000 = $59,836,000). - The Purchase Price will be adjusted downward for the outstanding principal amount of outstanding indebtedness owed by the Included Subsidiaries as of the Closing Date, together with interest accrued there on to the Closing Date, except for up to $16,000,000 of indebtedness secured by the VECO Alaska Building and owed to W▇▇▇▇ Fargo Bank NA (which will be assumed by CH2M HILL at Closing). For these purposes, debt related to the defeseance of the VAB building mortgage shall be disregarded (subject to appropriate adjustment to the extent of any undefeased portions of such debt); - $70,000,000 of the Purchase Price (the “Holdback Amount”) will be held back by CH2M HILL (with appropriate interest) or held with an independent escrow agent (as shall be agreed upon by the parties in connection with the definitive agreements) as security for reasonable and actual out-of-pocket costs and expenses and liability that CH2M HILL may suffer in respect of certain Retained Liabilities or breaches of representations, warranties, indemnifications or agreements as set forth in the definitive agreements. Earnings and interest on the holdback/escrow shall be for the benefit of the Stockholders and shall be released periodically. Whether the Holdback Amount shall serve as sole and exclusive remedy for breaches of representations and warranties and indemnification shall be determined in connection with negotiation of the definitive agreements. -The disposition or handling of the unfinished building on Sakhalin shall be determined in connection with negotiation of the definitive agreements. -The Purchase Price shall be decreased by $5,000,000 in respect of the Norcon Property and an additional amount...
Material Terms and Conditions. Monument Mortgage and Sollen specifically agree that each of the terms and conditions of this Section 3 are material and that failure of Monument Mortgage or Sollen to comply with these terms and conditions shall constitute a material breach and shall be sufficient cause for either Party to terminate this Agreement in accordance with the provisions of Section 12.
Material Terms and Conditions. As per the terms of this Agreement, ▇▇▇▇▇▇▇ shall be entitled to levy penal charges to the Borrower in the event of failure of any of the following Material Terms and Conditions mentioned herein below:
(i) non-payment of Outstanding Amounts (or part thereof) on the respective due dates or as and when demanded by Fedfina;
(ii) If the Borrower fails to deliver repayment instrument for the entire term of the loan;
(iii) any damages caused to the collateral offered as security for the Loan, which includes any construction / demolition made in the security without the prior permission of Fedfina, sub-letting the collateral, etc.;
(iv) any Property offered as security for Loan, depreciates in value to such an extent that in the opinion of ▇▇▇▇▇▇▇, additional security should be given and such security is not given on written demand;
(v) any property offered as security either in full or any part thereof is sold, disposed-off, charged, encumbered or alienated in any manner whatsoever without written approval of Fedfina;
(vi) If an attachment or distrait is levied on the Property or any part thereof and/or proceedings are taken or commenced for recovery of any dues from the borrower against the Property.