Transactions and Passes Sample Clauses

The 'Transactions and Passes' clause defines the rules and procedures governing the transfer of rights, assets, or obligations between parties within an agreement. It typically outlines how and when ownership or responsibility is transferred, such as upon payment, delivery, or completion of certain conditions, and may specify documentation or notification requirements. This clause ensures that both parties clearly understand when and how the transfer occurs, thereby reducing disputes and providing certainty regarding the timing and validity of transactions.