Successive Events Clause Samples
The 'Successive Events' clause defines how a contract addresses situations where multiple events, such as delays or breaches, occur one after another or overlap. Typically, this clause outlines the order in which these events are considered, how their effects are combined or separated, and whether one event supersedes or modifies the consequences of another. For example, if a delay caused by a contractor is followed by a delay due to force majeure, the clause will specify how responsibility and remedies are allocated. Its core function is to provide clarity and fairness in handling complex scenarios involving multiple, potentially interacting contractual events, thereby reducing disputes and ambiguity.
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Successive Events. The Exercise Price and the number of Option Shares subject to the Call Options shall be readjusted in the same manner described above upon the happening of any successive events or events described in this subclause 3. In the case of any adjustment or readjustment of the Exercise Price or the number of Option Shares subject to the Call Options, the Purchaser shall, at its expense, promptly compute such adjustment or readjustment in accordance with subclause 3.3 and deliver a written notice to each Seller showing in detail the facts upon which such adjustment or readjustment is based, and the Exercise Price and the number of Option Shares issuable upon exercise of such Seller’s Call Option after such adjustment or readjustment. In cases where the relevant adjustment formula is dependent upon the Bid Price (which may not be known at the time the adjustment or readjustment is required to be determined), the written notice to be delivered by the Purchaser shall include tables which show the computed adjustment or readjustment for an appropriate range of possible Bid Prices.
Successive Events. Roche shall make each of such payments only once for the first occurrence of the requisite event for such Product or Clinical Candidate, regardless of how many times the event may be subsequently achieved with such Product or Clinical Candidate.
Successive Events. The provisions of this Section 3.7 shall apply successively to each Change of Control or Sale of the Company which may occur.