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.
Conditions are terms that go to the very root of a contract. Breach of these terms gives the right to repudiate the contract, allowing the other party to discharge the contract. A warranty is less imperative than a condition, so the contract will survive a breach. Breach of either a condition or a warranty will give rise to damages. It is an objective matter of fact whether a term goes to the root of a contract.