Mutuality of Obligations Sample Clauses
The Mutuality of Obligations clause establishes that both parties to a contract are bound by reciprocal duties or promises. In practice, this means that each party must provide something of value—such as services, payment, or performance—in exchange for the other party’s obligations. For example, an employer agrees to pay wages while an employee agrees to perform work. This clause ensures that the contract is legally enforceable by confirming that both sides have binding commitments, thereby preventing one-sided agreements and clarifying the expectations of each party.
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Mutuality of Obligations. Governing Board and Superintendent shall fulfill all aspects of this contract, any exceptions thereto being by mutual consent of Governing Board and Superintendent.
Mutuality of Obligations. MFF hereby agrees that any information which it receives from Shadewell which is within the scope of the definition of Protected Information, shall be treated as confidential by MFF, and MFF hereby agrees to be bound by the terms of this Agreement with respect to any such information it receives from Shadewell, to the same extent that Shadewell is bound by the terms of this Agreement with respect to Protected Information, as set forth above in paragraphs 15(a), (b), (c) and (d).
Mutuality of Obligations. MFB hereby agrees that any information which it receives from Nonni's which is within the scope of the definition of Protected Information, shall be treated as confidential by MFB, and MFB hereby agrees to be bound by the terms of this Agreement with respect to any such information it receives from Nonni's, to the same extent that Nonni's is bound by the terms of this Agreement with respect to Protected Information, as set forth above in paragraphs 15(a), (b), (c) and (d).
Mutuality of Obligations. The tenant's obligation to pay rent under the rental agreement or assignment and to comply with G.S. 42-43 and the landlord's obligation to comply with G.S. 42-42(a) shall be mutually dependent. (1977, c. 770, s. 1.)
Mutuality of Obligations. 3.1 The obligations imposed upon the parties to this AGREEMENT are for the benefit of the parties and we each hereby agree that timely fulfillment of each and every obligation in accordance with this AGREEMENT is material and necessary. In the event of a material breach by either party to this AGREEMENT, the other party shall give written notice of the breach to the breaching party and the opportunity to cure such breach within (10) business days. Upon the failure of the breaching party to cure within said timeframe, the non-breaching party may terminate this AGREEMENT upon notice without further obligation to the other party.
3.2 Except as otherwise provided in this AGREEMENT, the parties to this AGREEMENT shall be solely responsible for any costs incurred in fulfilling their obligations under this AGREEMENT, and no party shall have any claim against the other party for reimbursement of such costs.
Mutuality of Obligations. The obligations of each Party to deliver the items specified in this Section and to complete the transactions contemplated in this Agreement shall be conditioned upon and subject to the complete and timely performance by the other Parties of their respective obligations hereunder.
Mutuality of Obligations. A. The parties agree that the funds granted by the Commonwealth to the Grantee are to be used solely for the purposes of the acquisition and construction of the Project. Further, the parties agree that the obligations imposed upon them are for their respective benefit and the timely fulfillment of the obligations set herein are necessary for the Project.
B. Except as may otherwise be provided herein, the parties to this Agreement shall be solely responsible for any incidental costs incurred in fulfilling their respective obligations under this Agreement and neither party shall have any claim against the other party for reimbursement of incidental costs whether or not a party is in default.
Mutuality of Obligations. All debts and obligations of Boise and DSS (and their respective Affiliates) to each other are mutual and subject to setoff.
Mutuality of Obligations. 5.1 The obligations imposed upon the parties to this AGREEMENT are for the sole benefit of the parties hereto without intending to create or imply any third-party beneficiaries. The failure of any party to fulfill any of its obligations under this AGREEMENT shall constitute a breach of this AGREEMENT, and shall entitle the other party to commence appropriate legal or equitable action to enforce its rights under this AGREEMENT, unless the fulfillment of such obligation is waived or modified by the affected party. All waivers shall be in writing, signed by the affected party, and a waiver of one breach shall not constitute a waiver of any other breach.
5.2 In the event of a material breach by either party to this AGREEMENT, the other party may terminate this AGREEMENT, without further obligation to the other party. The rights of the parties to this AGREEMENT to pursue remedies for breach of any of the provisions hereof shall survive the termination, expiration or cancellation of this AGREEMENT.
Mutuality of Obligations. A. The parties agree that the obligations imposed upon them are for the benefit of the parties and the timely fulfillment of each and every obligation in accordance with this memorandum is necessary. The failure of any party to fulfill its obligations under this memorandum or the failure of any event to occur by a date established by this memorandum shall constitute a breach of it unless the fulfillment of such obligation is waived or modified by written agreement of the parties.
B. In the event of default by the Library, including the failure to meet any time deadlines set out in this memorandum, the Department may declare this memorandum of agreement void from the beginning without further obligation to the Library and may commence appropriate legal or equitable action to enforce its rights under this memorandum of agreement including action for recovery of funds expended hereunder.
C. Except as may otherwise be provided herein, the parties to this memorandum of agreement shall be solely responsible for any costs incurred in fulfilling their obligations under this memorandum and no party shall have any claim against the other party for reimbursement of costs whether or not a party is in default.