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.
A condition precedent is a condition or an event that must happen before a contract is in effect. A condition precedent can also trigger what each person must do under a contract.f the condition precedent does not happen, there is no legal duty owed and the contract is no longer effective. The condition precedent clause can be written in any variety of ways. There is no one correct way to draft a condition precedent clause. To unlock this lesson you must be a Study.com Member.