EXPENSE ALLOCATION AGREEMENT. This AGREEMENT, effective as of ______, 199__ , is by and between the. [list each fund] with offices at__________________(collectively the Funds) and. [list union and other entities] with offices at__________________(the Union).
A condition in a contract that causes the contract to become invalid if a certain event occurs. A condition in a contract or will that causes the contract to become invalid if a certain event occurs.This is different from a condition precedent.The happening of a condition subsequent may invalidate a contract which is, until that moment, fully valid and binding. In the case of a condition precedent, no binding contract exists until the condition occurs. condition in a contract that causes the contract to become invalid if a certain event occurs. A condition in a contract or will that causes the contract to become invalid if a certain event occurs.
In the law of contracts, as well as estates and conveyancing, conditions precedent and subsequent may exist. A condition precedent must occur before a right accrues. A woman may convey her house to her son based on the condition that the son marry by the age of twenty-five. If the son fails to marry by that age, he has lost his right to the house.