Where Condition 3 Sample Clauses
The 'Where Condition 3' clause sets out specific requirements or criteria that must be met for certain obligations or actions within the contract to take effect. Typically, this clause outlines a particular event, status, or set of circumstances that must occur before a party is required to perform or before a right becomes enforceable. For example, it might state that payment is only due once a certain milestone is achieved or a regulatory approval is obtained. The core function of this clause is to ensure that contractual duties are only triggered when predefined conditions are satisfied, thereby managing risk and providing clarity about when obligations arise.
Where Condition 3. 6 applies We may reassign the relevant Debt to You. This will be begun by Us making the appropriate entries in the Records for its Notified Value. You will not own such Debt until We are paid in cleared funds for it and for all other Debts We are reassigning to You at such time.