Express Contingency Sample Clauses

Express Contingency. Notwithstanding anything to the contrary set forth herein, this Lease is expressly contingent on (i) Lessee and Celestica entering into a mutually agreeable sublease agreement for a term commencing on or before the date hereof and expiring at midnight on December 31, 2011, and (ii) Lessee obtaining a Non-Disturbance Agreement effective with respect to the Premises during the term of the Sublease, executed by Lessor and Lessee in a form reasonably acceptable to Lessee (A) confirming that in the event of early termination of the lease between Celestica and Lessor with respect to the Premises, so long as Lessee is not in material default under the Sublease beyond any applicable cure period, Lessee’s rights thereunder shall be in no way abridged or disturbed by Lessor nor shall Lessee’s obligations thereunder be in any way expanded, and the Sublease shall continue in full force and effect as a direct lease between Lessor and Lessee in accordance with its terms, and (B) agreeing that the benefit of such Non-Disturbance Agreement shall be transferable to any transferee that is a Permitted Transfer (as such term is defined in the Sublease) and to any other assignee or subtenant that is reasonably acceptable to Lessor at the time of transfer. In the event either (i) or (ii) is not satisfied on the Effective Date (the “Contingency Satisfaction Date”), Lessee shall have the right to terminate this Lease by written notice to Lessor of such termination by December 31, 2006 and (except with respect to obligations that survive the termination hereof) neither party shall have any further obligations under this Lease.
Sample 1
Express Contingency. Notwithstanding anything to the contrary set forth herein, this Sublease is expressly contingent on (i) Lessor and Sublessee entering into a mutually agreeable lease agreement whereby upon the expiration of the Term, Lessor shall lease to Sublessee, and Sublessee shall lease from Lessor, the Sublease Premises for a term of no less than five (5) years commencing on January 1, 2012 and (ii) Sublessor obtaining for the benefit of Sublessee a Non-Disturbance Agreement executed by Lessor and Sublessee in a form reasonably acceptable to Sublessee (A) confirming that so long as Sublessee is not in material default hereunder beyond any applicable cure period (for which purpose the occurrence and continuance of any event of default under Section 14.1 of the Master Lease shall be deemed to be “material”), Sublessee’s rights hereunder shall be in no way abridged or disturbed by Lessor nor shall Sublessee’s obligations hereunder be in any way expanded, and this Sublease shall continue in full force and effect as a direct lease between Lessor and Sublessee in accordance with its terms and (B) agreeing that the benefit of such Non-Disturbance Agreement shall be transferable to any transferee that is a Permitted Transfer and to any other assignee or subtenant that is reasonably acceptable to Lessor at the time of transfer. In the event either (i) or (ii) is not satisfied within five (5) business days after the Effective Date (the “Contingency Satisfaction Date”), Sublessee shall have the right to terminate this Sublease by written notice to Sublessor of such termination given after the Contingency Satisfaction Date but prior to such contingency being satisfied, and (except with respect to obligations that survive the termination hereof) neither party shall have any further obligations under this Sublease. Notwithstanding the foregoing, if Sublessee fails to provide Sublessor with written notice of its election to terminate this Sublease under the terms and conditions of this Section 32 within ten (10) days after the Contingency Satisfaction Date, Sublessee shall be deemed to have waived the express contingency described herein, and this Sublease shall continue in full force and effect.
Sample 1

Related to Express Contingency

  • BUDGET CONTINGENCY If the Budget Act of the current year covered under this Grant Agreement does not appropriate sufficient funds for this program, this Grant Agreement shall be of no force and effect. This provision shall be construed as a condition precedent to the obligation of the State to make any payments under this Grant Agreement. In this event, the State shall have no liability to pay any funds whatsoever to the Grantee or to furnish any other considerations under this Grant Agreement and the Grantee shall not be obligated to perform any provisions of this Grant Agreement. Nothing in this Grant Agreement shall be construed to provide the Grantee with a right of priority for payment over any other Grantee. If funding for any fiscal year after the current year covered by this Grant Agreement is reduced or deleted by the Budget Act, by Executive Order, or by order of the Department of Finance, the State shall have the option to either cancel this Grant Agreement with no liability occurring to the State, or offer a Grant Agreement amendment to the Grantee to reflect the reduced amount.

  • Construction Contingency The proposed GMP Change Order shall include, as a separately identified item, a Construction Contingency sum in an initial amount (subject to increase or decrease) against which Design-Builder can draw at its election for the purposes set forth in Section 4 Part 4. The initial Construction Contingency sum shall include the contingency amounts stated in all accepted Component Change Orders.

  • FUNDING CONTINGENCY a. In the event funding from state, federal, or other sources is withdrawn, reduced, or limited in any way after the effective date of this Contract and prior to completion of the work in this Contract, DCYF may: (1) Terminate this Contract with ten (10) days advance notice. If this Contract is terminated, the parties shall be liable only for performance rendered or costs incurred in accordance with the terms of this Contract prior to the effective date of termination; (2) Renegotiate the terms of the Contract under the new funding limitations and conditions; (3) After a review of project expenditures and deliverable status, extend the end date of this Contract and postpone deliverables or portions of deliverables; or (4) Pursue such other alternatives as the parties mutually agree to in writing. b. Any termination under this Section (FUNDING CONTINGENCY) shall be considered a Termination for Convenience.

  • MORTGAGE CONTINGENCY A. This agreement is contingent upon Purchaser obtaining approval of a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or mortgage loan of $ for a term of no more than years at an initial fixed or adjustable nominal interest rate not to exceed % (percent). Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser’s receipt of the mortgage commitment or of Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , , then either Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of termination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser’s inability to obtain said mortgage approval, this agreement shall be cancelled, null and void, and all deposits made hereunder shall be returned to the Purchaser.

  • Financing Contingency The Buyer’s obligations herein are contingent on the Buyer’s obtaining financing to pay the balance on the Purchase Price. The Buyer must present to the Seller a binding commitment for financing the purchase of the Property within days from the Effective date. The terms of the financing must be acceptable to and approved by the Buyer who shall not unreasonably withhold such approval. In the event that the Buyer fails to obtain financing within the time allotted, this Agreement shall automatically terminated and all funds paid by the Buyer shall be returned to the Buyer after deducting all reasonable costs incurred by the Seller in good faith in relation this Agreement.

  • Contingency If Buyer does not reveal a fact of contingency to the lender and this purchase does not record because of such nondisclosure after initial application, the Buyer shall be in default;

  • No Financing Contingency By participating in this auction, bidders hereby agree that their bid shall NOT be subject to the bidder’s ability to obtain financing. Financing is NOT a contingency in the purchase agreement. However, if a bidder decides to purchase property with a loan, they should make sure they are approved for a loan and that lender is capable of completing on or before closing date.

  • Budget Contingency Clause A. It is mutually agreed that if the Budget Act of the current year and/or any subsequent years covered under this Agreement does not appropriate sufficient funds for the program, this Agreement shall be of no further force and effect. In this event, the State shall have no liability to pay any funds whatsoever to Contractor or to furnish any other considerations under this Agreement and Contractor shall not be obligated to perform any provisions of this Agreement. B. If funding for any fiscal year is reduced or deleted by the Budget Act for purposes of this program, the State shall have the option to either cancel this Agreement with no liability occurring to the State, or offer an agreement amendment to Contractor to reflect the reduced amount.

  • Abnormally High Tenders 36.4 An abnormally high price is one where the tender price, in combination with other constituent elements of the Tender, appears unreasonably too high to the extent that the Procuring Entity is concerned that it (the Procuring Entity) may not be getting value for money or it may be paying too high a price for the contract compared with market prices or that genuine competition between Tenderers is compromised. 36.5 In case of an abnormally high tender price, the Procuring Entity shall make a survey of the market prices, check if the estimated cost of the contract is correct and review the Tender Documents to check if the specifications, scope of work and conditions of contract are contributory to the abnormally high tenders. The Procuring Entity may also seek written clarification from the tenderer on the reason for the high tender price. The Procuring Entity shall proceed as follows: i) If the tender price is abnormally high based on wrong estimated cost of the contract, the Procuring Entity may accept or not accept the tender depending on the Procuring Entity's budget considerations. ii) If specifications, scope of work and/or conditions of contract are contributory to the abnormally high tender prices, the Procuring Entity shall reject all tenders and may retender for the contract based on revised estimates, specifications, scope of work and conditions of contract, as the case may be. 36.6 If the Procuring Entity determines that the Tender Price is abnormally too high because genuine competition between tenderers is compromised (often due to collusion, corruption or other manipulations), the Procuring Entity shall reject all Tenders and shall institute or cause relevant Government Agencies to institute an investigation on the cause of the compromise, before retendering.

  • Operating Schedule Purchaser shall, be- fore commencing operations, provide in writing an annual Operating Schedule of anticipated major activities and needs for logging Included Timber, such as logging, road maintenance, Scaling, and road construction, including construction staking under B5.212 and material delivery under B5.22. Upon reasonable notice to Forest Service, such schedule shall be subject to modifications necessi- xxxxx by weather, markets, or other unpredictable circum- stances.