Condition precedent Cláusulas de Ejemplo
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Condition precedent. The legal effectiveness of this Contract is subject to the fulfillment of the condition precedent which establishes that the Sponsor shall obtain the express authorization of the AEMPS to conduct the Clinical Trial, as well as the favorable opinion of the Ethics Committee of Clinical Research (the “Condition Precedent”). Should the Condition Precedent not be fulfilled, this Contract will have no effect and the parties will have no further claims waiving any legal actions that may be applicable under the Law. Fulfilling the Condition Precedent will automatically initiate the effectiveness of this Contract and, consequently, it will result in the commencement of all its legal effects. The Sponsor will prove compliance of the Condition Precedent by notification in writing and in a reliable manner to the Site and the Foundation. Until the Condition Precedent has been fulfilled, the Sponsor commits to making the necessary effort to fulfill it, collaborating in the preparation and implementation of as many actions and submission of as many documents as required by the competent public authorities to that effect.
Condition precedent. All obligations and rights of both Debtor and Buyer contained in this Agreement shall not become effective and shall not be enforceable until the date on which the following Condition Precedent is fulfilled: The condition is for VEX to acquire the Acquired Bonds by entering into the Bonds Purchase and Sale Agreement with Deutsche. For purposes of the foregoing, VEX shall prove fulfillment of the corresponding Condition Precedent, through a plain copy of the document that evidences the Bonds Purchase and Sale Agreement has been executed.
3.1. Price of the Transaction. The purchase price for the Bonds on Sale (the “Price of the Transaction”) is the sum of US$86,535,000.00 (eighty-six million five hundred thirty-five thousand Dollars), which shall be paid by a contribution to the Trust as follows: