Term Conditions Precedent Sample Clauses

Term Conditions Precedent. A. This Contract is effective as of July 1, 2021, and shall continue through June 30, 2026. Although this Contract renews the operation of the School for an additional period of five (5) years, any financial commitment on the part of the District contained in this Contract is subject to annual appropriation by the District and the Parties agree that the District has no obligation to fund the financial obligations under this Contract other than for the current year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. A School Contract may be renewed for an additional period upon application for renewal in accordance with the state law and District Board approval of the renewal of the application. B. The School shall comply with any conditions of renewal of School’s Contract as set forth in the Resolution attached to this Agreement as Attachment 1 (“Renewal Conditions of Approval”). The School’s failure to comply with one or more of the Renewal Conditions of Approval shall be a material breach of the Contract.
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Term Conditions Precedent. The term of this Agreement shall commence on the Effective Date and shall remain in effect until December 31 of the year in which the twentieth (20th) anniversary of the Commercial Operation Date occurs, or such earlier date provided herein (“Term”).
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Term Conditions Precedent. ‌ A. This Contract is effective as of March 10, 2020 (the “Effective Date”) and shall continue through June 30, 2026; however, funding shall not commence until July 1, 2021, and the School shall have a planning period, sometimes referred to as a “Zero Year”, from the Effective Date through June 30, 2021. Although this Contract is for operation of the School for a period of (5) years from the date of commencement of funding, any financial commitment on the part of the District contained in this Contract is subject to annual appropriation by the District and the Parties agree that the District has no obligation to fund the financial obligations under this Contract other than for the current fiscal year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. B. The Parties further agree that any financial obligations on the part of the School contained in this Contract is subject to annual appropriation by the School and the Parties agree that the School has no financial obligations under this Contract other than for the current fiscal year of the Contract term; and that the School has not irrevocably pledged and held for payment sufficient cash reserves for paying its obligations under this Contract for any subsequent fiscal year during the remaining term of the Contract. The Charter Contract may be renewed for an additional period upon application for renewal in accordance with the Act and District Board approval of the renewal application. C. The Parties further acknowledge and agree that this Contract, and the District’s obligations hereunder, are conditioned on the School’s satisfaction of the conditions of approval set forth in the Resolution, including the condition that the School open by September 2021. If the School materially fails to satisfy one or more of the conditions of approval, such failure shall be considered a material violation of conditions, standards or procedures provided for in the Contract and shall be grounds for District intervention pursuant to Section 2.2.I. or termination under Section 11.3 of this Contract. However, the District may in its good faith determination waive or modify the restrictions contained in the Resolution or herein or may grant the School additional time to comply with the same, or an additional planning year upon good cause show...
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Term Conditions Precedent. 20 2.1 Contract Term. 20
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Term Conditions Precedent. (a) This Agreement shall be in effect through November 30, 2009 (the "Term"). Thereafter, this Agreement shall renew for additional five-year periods unless either party shall provide written notice of termination to the other party no later than 120 days prior to the then current expiration date. As one of the Conditions Precedent, JH and AAI must agree upon a formula to appropriately compensate JH for the value created by it pursuant to this Agreement in the event the Term is not extended beyond such initial five (5) year period. This may include, for example, an ending cash payment to JH or issuance of additional stock. (b) JH and AAI have agreed to enter into this Agreement to reflect the current stage of their negotiations. However, the Term shall not commence, and neither JH nor AAI shall have any legally binding obligation in this Agreement, until all of the Conditions Precedent have been satisfied. If all of the Conditions Precedent have not been satisfied by July 31, 2005 (as such date may be extended by mutual agreement of the parties), either party may elect by written notice to the other to terminate this Agreement. The "Conditions Precedent" include: (i) written agreement by JH and AAI on: (A) the parameters for research and academic freedom as opposed to work for hire as noted in Section 1 of this Agreement; (B) the amount of royalty fees, guaranteed. annual fees and equity as noted in Section 4(a) of this Agreement; (C) the buyout or additional stock to be provided JH at the end of the Term as noted in Section 5 of this Agreement; and (D) an appropriate scope of coverage for product and/or contractual liability insurance to be maintained by AAI; (ii) final approval by internal. JH committees for the Permitted Statement of Fact (AAI acknowledges that, notwithstanding anything to the contrary in this Agreement, such approvals have not yet been obtained); and (iii) documentation of the matters described in the preceding paragraphs (i) and (ii) by an amendment to this Agreement acceptable in form and content to, and signed by, JH and AAI. Neither JH nor AAI shall have any legal obligation of any nature to proceed with the transactions described in this Agreement anti] all of the Conditions Precedent have been satisfied in the sole discretion of each party. No implied obligations of any nature, whether to negotiate in good faith or otherwise, shall arise by virtue of the execution of this Agreement.
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Term Conditions Precedent. Subject to Section 2.6 hereof, the Term shall not commence until the occurrence of all of the following: (a) This Agreement has been duly executed by the authorized representatives of each of Buyer and Seller; (b) CPUC Approval has been obtained; (c) Buyer receives a final and non-appealable order of the CPUC that finds that Buyer’s entry into this Agreement is reasonable and that payments to be made by Buyer hereunder are recoverable in rates (such occurrences shall be referred to collectively as “Term Conditions Precedent”).
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Term Conditions Precedent. The term of the Lease commences on the date of the Lease and expires thirty five (35) years (including extensions) thereafter. However, the effectiveness of the Lease is conditioned upon modification of State law to allow, and the Lessee getting valid permits for, the Sign described in the Lease.
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Term Conditions Precedent 
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Related to Term Conditions Precedent

  • Conditions Precedent This Amendment shall become effective as of the date hereof (the “Amendment Effective Date”), subject to the satisfaction of the following conditions precedent:

  • Additional Conditions Precedent No Lender has any ------------------------------- obligation to make any Loan (including its first), and LC Issuer has no obligation to issue any Letter of Credit (including its first), unless the following conditions precedent have been satisfied: (a) All representations and warranties made by any Restricted Person in any Loan Document shall be true on and as of the date of such Loan or the date of issuance of such Letter of Credit as if such representations and warranties had been made as of the date of such Loan or the date of issuance of such Letter of Credit except to the extent that such representation or warranty was made as of a specific date or updated, modified or supplemented as of a subsequent date with the consent of Majority Lenders. (b) No Default shall exist at the date of such Loan or the date of issuance of such Letter of Credit. (c) No Material Adverse Change shall have occurred to, and no event or circumstance shall have occurred that could cause a Material Adverse Change to, Plains MLP's or Borrower's Consolidated financial condition or businesses since the date of the Initial Financial Statements. (d) Each Restricted Person shall have performed and complied with all agreements and conditions required in the Loan Documents to be performed or complied with by it on or prior to the date of such Loan or the date of issuance of such Letter of Credit. (e) The making of such Loan or the issuance of such Letter of Credit shall not be prohibited by any Law and shall not subject any Lender or any LC Issuer to any penalty or other onerous condition under or pursuant to any such Law. (f) Administrative Agent shall have received all documents and instruments which Administrative Agent has then requested, in addition to those described in Section 4.1 (including opinions of legal counsel for Restricted Persons and Administrative Agent; corporate documents and records; documents evidencing governmental authorizations, consents, approvals, licenses and exemptions; and certificates of public officials and of officers and representatives of Borrower and other Persons), as to (i) the accuracy and validity of or compliance with all representations, warranties and covenants made by any Restricted Person in this Agreement and the other Loan Documents, (ii the satisfaction of all conditions contained herein or therein, and (ii all other matters pertaining hereto and thereto. All such additional documents and instruments shall be satisfactory to Administrative Agent in form, substance and date.