Elections Irrevocable Sample Clauses
The "Elections Irrevocable" clause establishes that once a party makes a choice or election under the agreement, that decision cannot be changed or withdrawn. In practice, this means that if a party selects a particular option, such as a method of payment or a contractual right, they are bound by that selection for the duration specified in the contract. This clause ensures certainty and finality in the parties' decisions, preventing disputes or delays that could arise from parties attempting to reverse or alter their choices after the fact.
POPULAR SAMPLE Copied 1 times
Elections Irrevocable. The Member understands that the elections made under this Agreement are irrevocable and may not be changed unless otherwise permitted under the Plan (for example, for unforeseen financial emergency) as amended by the Bank consistent with the requirements of Section 409A of the Internal Revenue Code.
Elections Irrevocable. All elections shall be irrevocable once made and shall be binding on the Unitholder and any subsequent transferee of any Units.
Elections Irrevocable. Any election under paragraph (c)(1) or (c)(2) of this section is revocable only with the con- sent of the Commissioner.
Elections Irrevocable. If the Lessee has given a notice referred to in Section 13(a) or 13(b) hereof, not less than 180 days prior to the expiration of the Basic Term or any Renewal Term, as the case may be, the Lessee or its designee shall give to the Lessor irrevocable written notice as to which of such options pursuant to Section 12(a) or 12(b) hereof, as the case may be, the Lessee or its designee has selected and such election shall be binding on the Lessee.
Elections Irrevocable. Executive may not change the Payment Trigger Event or the form of payment after he elects the same.
Elections Irrevocable. The election made by the Lessee or deemed to have been made under Section 14(b) shall be irrevocable, and such election (or deemed election) shall be binding on the Lessor and the Lessee.