Examples of Condition Precedent in a sentence
Upon occurrence of a Licensee’s Default, Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent.
The completion of this form is considered a Condition Precedent for Execution of a Contract.
In the event, prior to the Closing, Purchaser (i) materially defaults in any manner under this Agreement or (ii) fails to proceed with the purchase of the Assets for any reason other than Seller’s default or failure of a Purchaser’s Condition Precedent, Seller shall have the right, exercisable by giving written notice to Purchaser within five (5) business days after the date Seller learns of such default (but in any event prior to the Closing), to terminate this Agreement.
The Project Owner shall, subject to the satisfaction of the Condition Precedent, pay the General Contractor a start-up advance in the amount of EUR2,256,063.06 (excluding VAT) (equivalent to approximately HK$18,544,838.35), which shall be subject to the provision of a personal and joint surety for the same amount by a banking institution in France.
Condition Precedent means a policy term or condition upon which the Insurer’s liability under the policy is conditional upon.