CONSIDERATION AND INTERPRETATION Clause Samples
The 'Consideration and Interpretation' clause defines how the terms of the agreement should be understood and clarifies the basis of the contractual exchange. It typically outlines the value or benefit each party receives (the consideration) and sets out rules for interpreting the contract, such as how headings, definitions, or ambiguous terms should be treated. This clause ensures that both parties have a mutual understanding of their obligations and helps prevent disputes by providing guidance on how to resolve uncertainties in the contract's language.
CONSIDERATION AND INTERPRETATION. 1.1 In consideration of the mutual benefits and obligations contained in this Agreement, each Party hereby agrees to be bound by the terms of this Agreement.
1.2 The definitions and rules of interpretation in this Clause apply in this Agreement as the Definitions shown in Schedule 1.
1.3 Clause headings shall not affect the interpretation of this Agreement.
1.4 A person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality).
1.5 Unless the context otherwise requires, words in the singular shall include the plural and in the plural include the singular.
1.6 A reference to a statute or statutory provision is a reference to it as amended, extended or re- enacted from time to time.
1.7 A reference to writing or written includes e-mail.
1.8 References to including and include(s) shall be deemed to mean respectively including without limitation and include(s) without limitation.
1.9 When a number is expressed both in words and numbers, in the event of a conflict the words shall be deemed correct.
1.10 References to Clauses and Schedules are to the clauses and schedules of this Agreement and references to Paragraphs are to paragraphs of the relevant Schedule.
CONSIDERATION AND INTERPRETATION. 1.1 In consideration of the mutual benefits and obligations contained in this Agreement, each party hereby agrees to be bound by the terms of this Agreement.
1.2 The definitions and rules of interpretation in this clause apply to this Agreement as follows: