TIME IS OF THE ESSENCE definition

TIME IS OF THE ESSENCE. Time is of the essence with respect to the Parties' respective obligations under this Agreement.
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TIME IS OF THE ESSENCE with respect to all provisions of this Agreement, with the sole exception that each of Buyer and Seller shall be entitled to a single adjournment (not to exceed two (2) business days in any event) of the Closing Date.
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TIME IS OF THE ESSENCE is a legal term that emphasizes the strictness of time limits. In this case, it means it will be a material breach of this Agreement to fail to perform any obligation within the time required or permitted by this Agreement.
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Examples of TIME IS OF THE ESSENCE in a sentence

  • Time is of the essence for each and every provision of this Agreement.

  • Time is of the essence in respect to all provisions of this Agreement that specify a time for performance; provided, however, that the foregoing shall not be construed to limit or deprive a Party of the benefits of any cure period allowed in this Agreement.

  • Time is of the essence for each and every provision of this Contract.

  • Time is of the essence as to each contract provision in which time of performance is a factor.

  • Time is of the essence in Xxxxxxx’s performance of the Project activities under this Grant.


More Definitions of TIME IS OF THE ESSENCE

TIME IS OF THE ESSENCE. With respect to this agreement, the parties agree that no extensions of time limits are binding unless specifically agreed to in writing. This agreement shall be construed without regard to the party or parties responsible for its preparation.
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TIME IS OF THE ESSENCE means that a deadline must be strictly followed. THIS LEASE INCLUDES THE PROVISIONS ON THE NEXT PAGE. NOTE: SIGNING THIS LEASE CREATES LEGAL ENFORCEABLE RIGHTS.
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TIME IS OF THE ESSENCE means the contract must be performed within the stipulated time.
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TIME IS OF THE ESSENCE means that time is a material condition in a construction contract and delay in the performance of the contract could disrupt the orderly progress of the construction, affect the operations of the District, or affect the cost of construction.
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TIME IS OF THE ESSENCE. Time is of the essence in the performance of this Agreeme nt.
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TIME IS OF THE ESSENCE clause means if a product or service is ordered which has to be available or performed by a particular date, and the value of the product or service is seriously reduced and/or extra cost may be incurred if that condition is not met, the contract allows for this contingency. E.g. Concrete required on site for construction where all preparation has been completed for the pour and workers are on standby for the pour before they can proceed with the work.
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TIME IS OF THE ESSENCE means that a deadline must be strictly followed.
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