Contractual intent Clause Samples
The 'Contractual intent' clause establishes that the parties entering into the agreement genuinely intend to create legally binding obligations. In practice, this clause clarifies that the contract is not merely a statement of intent or a non-binding arrangement, but is meant to be enforceable in a court of law. By including this provision, the contract ensures that both parties are committed to fulfilling their promises, thereby reducing the risk of disputes over whether a valid contract exists.
Contractual intent. In consideration of the terms and conditions set forth herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows with the intent to be legally bound.
Contractual intent. This Agreement and the transactions contemplated hereby are contractual and not merely recitals, and this Agreement is not executed in reliance upon any other statement or representation, or for any other consideration except those which are expressly made herein. The Magnum Hunter Entities and the Seminole Entities are fully informed of and acquainted with the contents of this Agreement and have full knowledge and appreciation of its meaning and effect and agree and acknowledge that it is executed for legally sufficient and adequate consideration. The Parties acknowledge that each of them received the advice of counsel prior to signing this Agreement, and their decision to sign this Agreement was their free and voluntary act.
Contractual intent. In entering into this agreement, the companies hereby declare and affirm that their primary contractual intent is to pool their resources and expertise to undertake contracts on any type of construction projects in the Philippines and carry on any and all such activities as may be necessary to the business of the Joint Venture.
Contractual intent. The intent of this contract is to provide housing to low-income Utahans and to further State law as outlined in Utah Code 35A-8-501 et seq. and Utah Administrative Code R982-501, as amended. The Housing and Community Development Division (HCD) is providing one-time funding for pre-development grants. Grant funds may be used by non-profits or for-profits for offsetting the pre-development funds needed to prepare for the construction of low-income housing units in rural, remote Utah. Pre-development grants of up to $50,000 may be awarded in rural areas, and priority will be awarded to projects based on underdeveloped infrastructure as defined in Utah Code §35A-8-507.5 (4).