Preference Sample Clauses
A Preference clause establishes a priority or ranking among multiple options, rights, or claims within a contract. In practice, this clause might specify that certain obligations or payments must be fulfilled before others, or that one party's rights take precedence over another's in specific situations. Its core function is to provide clear guidance on the order in which contractual provisions are to be applied, thereby reducing ambiguity and potential disputes over priority.
POPULAR SAMPLE Copied 11 times
Preference. Any payment by Borrower to Lender is held to constitute a preference under bankruptcy laws, or for any reason Lender is required to refund such payment or pay such amount to Borrower or someone else.
Preference. If any payment by Borrower is held to constitute a preference under any applicable bankruptcy, insolvency, or similar laws, or if for any other reason Lender is required to refund any sums to Borrower, such refund will not constitute a release of any liability of Guarantor under this Guaranty. It is the intention of Lender and Guarantor that Guarantor’s obligations under this Guaranty will not be discharged except by Guarantor’s performance of such obligations and then only to the extent of such performance.
Preference. Any payment by Seller to Purchaser is held to constitute a preference under bankruptcy laws, or for any reason Purchaser is required to refund such payment or pay such amount to Seller or someone else.
Preference. 2.25.1 Preference where allowed in the evaluation of tenders shall not exceed 15%
Preference. The Recipient shall, to the extent practicable, use and shall cause all its Contractors and subcontractors to use Ohio products, materials, services and labor in connection with the Project pursuant to Ohio Revised Code 164.05(A)(6);
Preference. Any payment by Borrower to Lender is held to constitute a preference under the Bankruptcy Code or for any reason Lender is required to refund such payment or pay such amount to Borrower or to any other Person.
Preference. Preference of vacation shall be given to employees according to their seniority in their department as reasonably as possible.
Preference. A list of teachers to be involuntarily transferred will be compiled 6 by Human Resources. Vacancy information shall be provided to these employees. 7 Thereafter, employees shall indicate the positions, in order of preference, such as 8 location/subject which they desire.
Preference. Unless the payor instructs otherwise, and except as otherwise provided in this Agreement, the Department shall give no preference in applying money received for state sales and use taxes, state-administered local sales and use taxes, and district transactions and use taxes owed by a taxpayer, but shall apply moneys collected to the satisfaction of the claims of the State, cities, counties, cities and counties, redevelopment agencies, other districts, and City as their interests appear.
Preference. Any payment by any Borrower to the Agent or any Lender is held to constitute a preference under bankruptcy laws, or for any reason the Agent or such Lender is required to refund such payment or pay such amount to such Borrower or someone else.