Effect of nonoccurrence of condition Sample Clauses

Effect of nonoccurrence of condition. Once the court has determined that the contract term in question really does expressly condition the defendant’s duty of performance on the occurrence of some event, what will be the effect of its nonoccurrence? Until the conditioning event does occur, the duty does not arise; at the point when it cannot (or for some reason clearly will not) occur, the defendant is discharged. Restatement (Second) §225. Although the “strict enforcement” approach to express conditions may be characteristic of classical contract law, it is alive and well today, as the Oppenheimer opinion dem- onstrates. The court in Xxxxxxxxxxx relies principally on two earlier New York decisions. One of those is Maxton Builders v. Lo Xxxxx. (You might be inter- ested to know that the attorney in Maxton who failed to give the requisite writ- ten notice of cancellation on behalf of his client was later held to have thereby committed actionable malpractice as a matter of law, despite assertions that he relied on the other attorney’s assurances that oral notice was sufficient. Lo Xxxxx v. Plishkin, Xxxxxx & Xxxx, 558 N.Y.S.2d 185 (App. Div. 1990).) The Restatement (Second) continues the general rule of strict enforcement of express conditions, and Comment d to §237, quoted by the court in Xxxxx- xxxxxx, rejects the application of a “substantial performance” qualification to that rule. (As the court indicates, there are a variety of bases on which an express condition might be deemed “excused.” Some of those are discussed in the Notes below, and in J.N.A. Realty Corp. v. Cross Bay Chelsea Inc., the case which follows.)
AutoNDA by SimpleDocs

Related to Effect of nonoccurrence of condition

  • Effect of Non-Compliance Failure to comply with the requirements set forth herein may result in termination of this Agreement and/or ineligibility for award of future contracts.

  • Effect of cessation or determination of Agreement 35. (1) On the cessation or determination of this Agreement —

  • Effect of Event of Default If any Event of Default described in Section 13.1.4 shall occur in respect of the Company, the Commitments shall immediately terminate and the Loans and all other Obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent may (and, upon the written request of the Required Lenders shall) declare the Commitments to be terminated in whole or in part and/or declare all or any part of the Loans and all other Obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all or any Letters of Credit, whereupon the Commitments shall immediately terminate (or be reduced, as applicable) and/or the Loans and other Obligations hereunder shall become immediately due and payable (in whole or in part, as applicable) and/or the Company shall immediately become obligated to Cash Collateralize the Letters of Credit (all or any, as applicable), all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Any cash collateral delivered hereunder shall be held by the Administrative Agent (without liability for interest thereon) and applied to the Obligations arising in connection with any drawing under a Letter of Credit. After the expiration or termination of all Letters of Credit, such cash collateral shall be applied by the Administrative Agent to any remaining Obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.

  • Effect of Non-Payment 55.22.1 If the billed Party does not pay all undisputed charges by the Bill Due Date, the billing Party may discontinue processing orders for services provided under this Agreement and may invoke the Default provisions of Section 7.6 on or after the tenth (10th) Day following the Bill Due Date provided the billing Party notifies the other Party in writing, via email or certified mail, at least five (5) Days prior to discontinuing the processing of orders. If the billing Party continues to accept additional orders for service(s) after the date specified in such notice, and the billed Party’s non- compliance continues, nothing contained herein shall preclude the billing Party from refusing to accept any or all additional orders for service(s) from the non-complying Party without further notice. For order processing to resume, the billed Party will be required to make full payment of all past and current undisputed charges under this Agreement. Additionally, the billing Party may require a deposit or assurance of payment (or additional deposit or assurance of payment) from the billed Party, pursuant to Section 44. In addition to other remedies that may be available at law or equity, the billed Party reserves the right to seek equitable relief, including injunctive relief and specific performance.

  • Effect of Notice Any notice given by the indemnifying Party to an Indemnified Party referred to in Sections 12.1(c) or 12.2(d) above of participation in or control of any action by the indemnifying Party will in no event be deemed to be an admission by the indemnifying Party of liability, culpability or responsibility, and the indemnifying Party will remain free to contest liability with respect to the claim among the Parties or otherwise.

  • EFFECT OF COMPLIANCE Compliance with and fulfillment of this Agreement shall be deemed to resolve all issues raised in the NOV.

  • Effect of Default If Tenant is in Default, Landlord is irrevocably authorized, as Tenant’s agent and attorney-in-fact, to direct any transferee under any sublease, license or other occupancy agreement to make all payments under such agreement directly to Landlord (which Landlord shall apply towards Tenant’s obligations hereunder) until such Default is cured. Such transferee shall rely upon any representation by Landlord that Tenant is in Default, whether or not confirmed by Tenant.

  • EFFECT OF SUSPENSION OR TERMINATION 18.1 The Department may exercise its right to give the Training Provider a direction under Clause 4.7 if:

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

  • Notification of Non-Compliance If Seller is unable to comply with the obligations stated in this Section, Seller shall promptly notify Apple, and Apple may take any one or more of the following actions: (i) suspend the transfer of Confidential Data to Seller; (ii) require Seller to cease processing Confidential Data; (iii) demand the secure return or destruction of Confidential Data; and/or (iv) immediately terminate this Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!