Term Conditions Precedent Sample Clauses

Term Conditions Precedent. A. This Contract is effective as of July 1, 2021, and shall continue through June 30, 2026. Although this Contract renews the operation of the School for an additional period of five (5) years, any financial commitment on the part of the District contained in this Contract is subject to annual appropriation by the District and the Parties agree that the District has no obligation to fund the financial obligations under this Contract other than for the current year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. A School Contract may be renewed for an additional period upon application for renewal in accordance with the state law and District Board approval of the renewal of the application. B. The School shall comply with any conditions of renewal of School’s Contract as set forth in the Resolution attached to this Agreement as Attachment 1 (“Renewal Conditions of Approval”). The School’s failure to comply with one or more of the Renewal Conditions of Approval shall be a material breach of the Contract.
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Term Conditions Precedent. The term of this Agreement shall commence on the Effective Date and shall remain in effect until December 31 of the year in which the twentieth (20th) anniversary of the Commercial Operation Date occurs, or such earlier date provided herein (“Term”).
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Term Conditions Precedent. A. This Contract is effective as of March 10, 2020 (the “Effective Date”) and shall continue through June 30, 2026; however, funding shall not commence until July 1, 2021, and the School shall have a planning period, sometimes referred to as a “Zero Year”, from the Effective Date through June 30, 2021. Although this Contract is for operation of the School for a period of (5) years from the date of commencement of funding, any financial commitment on the part of the District contained in this Contract is subject to annual appropriation by the District and the Parties agree that the District has no obligation to fund the financial obligations under this Contract other than for the current fiscal year of the Contract term. The District has not irrevocably pledged and held for payment sufficient cash reserves for funding the School or for providing services herein for any subsequent fiscal year during the remaining term of the Contract. B. The Parties further agree that any financial obligations on the part of the School contained in this Contract is subject to annual appropriation by the School and the Parties agree that the School has no financial obligations under this Contract other than for the current fiscal year of the Contract term; and that the School has not irrevocably pledged and held for payment sufficient cash reserves for paying its obligations under this Contract for any subsequent fiscal year during the remaining term of the Contract. The Charter Contract may be renewed for an additional period upon application for renewal in accordance with the Act and District Board approval of the renewal application. C. The Parties further acknowledge and agree that this Contract, and the District’s obligations hereunder, are conditioned on the School’s satisfaction of the conditions of approval set forth in the Resolution, including the condition that the School open by September 2021. If the School materially fails to satisfy one or more of the conditions of approval, such failure shall be considered a material violation of conditions, standards or procedures provided for in the Contract and shall be grounds for District intervention pursuant to Section 2.2.I. or termination under Section 11.3 of this Contract. However, the District may in its good faith determination waive or modify the restrictions contained in the Resolution or herein or may grant the School additional time to comply with the same, or an additional planning year upon good cause shown.
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Term Conditions Precedent. (a) This Agreement shall be in effect through November 30, 2009 (the "Term"). Thereafter, this Agreement shall renew for additional five-year periods unless either party shall provide written notice of termination to the other party no later than 120 days prior to the then current expiration date. As one of the Conditions Precedent, JH and AAI must agree upon a formula to appropriately compensate JH for the value created by it pursuant to this Agreement in the event the Term is not extended beyond such initial five (5) year period. This may include, for example, an ending cash payment to JH or issuance of additional stock. (b) JH and AAI have agreed to enter into this Agreement to reflect the current stage of their negotiations. However, the Term shall not commence, and neither JH nor AAI shall have any legally binding obligation in this Agreement, until all of the Conditions Precedent have been satisfied. If all of the Conditions Precedent have not been satisfied by July 31, 2005 (as such date may be extended by mutual agreement of the parties), either party may elect by written notice to the other to terminate this Agreement. The "Conditions Precedent" include: (i) written agreement by JH and AAI on: (A) the parameters for research and academic freedom as opposed to work for hire as noted in Section 1 of this Agreement; (B) the amount of royalty fees, guaranteed. annual fees and equity as noted in Section 4(a) of this Agreement; (C) the buyout or additional stock to be provided JH at the end of the Term as noted in Section 5 of this Agreement; and (D) an appropriate scope of coverage for product and/or contractual liability insurance to be maintained by AAI; (ii) final approval by internal. JH committees for the Permitted Statement of Fact (AAI acknowledges that, notwithstanding anything to the contrary in this Agreement, such approvals have not yet been obtained); and (iii) documentation of the matters described in the preceding paragraphs (i) and (ii) by an amendment to this Agreement acceptable in form and content to, and signed by, JH and AAI. Neither JH nor AAI shall have any legal obligation of any nature to proceed with the transactions described in this Agreement anti] all of the Conditions Precedent have been satisfied in the sole discretion of each party. No implied obligations of any nature, whether to negotiate in good faith or otherwise, shall arise by virtue of the execution of this Agreement.
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Term Conditions Precedent. Subject to Section 2.6 hereof, the Term shall not commence until the occurrence of all of the following: (a) This Agreement has been duly executed by the authorized representatives of each of Buyer and Seller; (b) CPUC Approval has been obtained; (c) Buyer receives a final and non-appealable order of the CPUC that finds that Buyer’s entry into this Agreement is reasonable and that payments to be made by Buyer hereunder are recoverable in rates (such occurrences shall be referred to collectively as “Term Conditions Precedent”).
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Term Conditions Precedent. The term of the Lease commences on the date of the Lease and expires thirty five (35) years (including extensions) thereafter. However, the effectiveness of the Lease is conditioned upon modification of State law to allow, and the Lessee getting valid permits for, the Sign described in the Lease.
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Term Conditions Precedent. 20 2.1 Contract Term. 20
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Term Conditions Precedent 
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Related to Term Conditions Precedent

  • Conditions Precedent 5.1 The sale and purchase of the Sale Shares and the Shareholder’s Loans is conditional upon the satisfaction of the following conditions precedent: 5.1.1 the Purchaser is satisfied with the result of the Due Diligence Exercises over the Target Group; 5.1.2 the Purchaser having obtained legal advice in form and substance acceptable to the Purchaser from a lawyer qualified to practise and advise on the PRC law confirming that all aspects of the transaction relating to the sale and purchase of the Sale Shares and the Shareholder’s Loans and the Completion thereof will comply with all applicable laws and regulations of the PRC and that RBL has legal and beneficial ownership of all the equity interest of JRBL and JRBL is in legal existence and of goodstanding and has obtained all regulatory approval to carry on its business and is the legal and beneficial owner of all its assets; 5.1.3 the shareholders and directors of the Vendor, SMG and BESI having approved the signing of this Agreement and the sale and purchase of the Sale Shares thereunder; 5.1.4 the Warranties (subject to all qualifications and exceptions contained in the Warranties relating to materiality, material adverse effect or words of similar import) remaining true and accurate and not misleading in any material respect at Completion as if repeated at Completion and at all times between the date of this Agreement and Completion; 5.1.5 the Vendor having complied fully in all material respects with all of the covenants and agreements (subject to all qualifications and exceptions contained in such covenants and agreements relating to materiality, material adverse effect or words of similar import) required to be performed by it under this Agreement; 5.1.6 all necessary consents being granted by third parties (including any governmental or official authorities) and no statute, regulation or decision which would prohibit, restrict or materially delay the sale and purchase of the Sale Shares or the operation of any of the company within the Target Group after Completion having been proposed, enacted or taken by any governmental or official authority; 5.1.7 all notices in connection with the sale and purchase of the Sale Shares and the Shareholder’s Loans (including with or to governmental or official authorities and third parties), as the Purchaser deems necessary or appropriate having been published or delivered and the expiration (or waiver) of applicable waiting periods in connection therewith; 5.1.8 the Target Group having received the consent, in form and substance satisfactory to Purchaser, to the purchase of the Sale Shares by the Purchaser by each landlord or other reversioner to any Lease of Current Property (if so required); and 5.1.9 The Vendor entering into the Distribution and Sales Agreement with the Purchaser. 5.2 Except for Clauses 5.1.3 and 5.1.9 above, the Purchaser may waive all or any of the Conditions Precedent specified in Clause 5.1 above at any time by notice in writing to the Vendor, provided that no such waiver shall limit or preclude Purchaser’s right to assert a claim pursuant under this Agreement. 5.3 The Vendor and the Purchaser (to the extent that it is reasonably able) shall use their commercially reasonable endeavours to procure the fulfilment of the Conditions Precedent as promptly as practicable following the date of this Agreement. 5.4 In the event that any of the Conditions Precedent shall not have been fulfilled (or waived pursuant to Clause 5.2 prior to 15th September, 2010 then, unless the Parties amend this Agreement in writing in accordance with the terms hereof, neither the Purchaser nor the Vendor shall be bound to proceed with the purchase or sale, as the case may be, of the Sale Shares and the Shareholder’s Loans and this Agreement shall cease to be of any effect except Clauses 9 and 11 which shall remain in force and save in respect of claims arising out of any antecedent breach of this Agreement. 5.5 In the event that the Purchaser shall give notice in writing of satisfaction of, or shall waive, the Conditions Precedent contained in Clause 5.1 such notice or waiver shall not imply that the Purchaser is not relying on the Warranties but rather only that it is prepared, in reliance upon the Warranties and such comfort, if any, as it has taken from its investigations, to proceed with the transaction. 5.6 Notwithstanding anything to the contrary in this Agreement, nothing in this Agreement shall be deemed to require the Purchaser to agree to, or proffer to, divest or hold separate any assets or any portion of any business of the Purchaser or the Target Group as a condition to, or term of, the Completion.

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