Reasonable efforts or commercially reasonable
WebbExamples of Commercially Reasonable in a sentence. A Party whose performance is impacted by a Force Majeure Event shall provide reasonable notice to the other Party and shall make Commercially Reasonable efforts to minimize the impact of the Force Majeure Event on its performance.. Whenever performance of an obligation of any Party hereto … WebbCommercially Reasonable or “ Commercially Reasonable Efforts ” means, with respect to any action permitted or required to be made, attempted or taken by a Party under this …
Reasonable efforts or commercially reasonable
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Webb10 mars 2024 · Commercially reasonable efforts imposes a less onerous standard than best efforts. Courts have relied on the dictionary meaning of the words: reasonable implying sound judgment, a sensible view, a view that is not absurd; commercial meaning having profit or financial gain, as opposed to loss as a primary aim or object. WebbBest efforts. Reasonable efforts. Commercially reasonable efforts. Including an efforts term to qualify a promise can be particularly useful when: The promisor's ability to achieve a goal is beyond its exclusive control, such as a promise to: sell a certain amount of goods; obtain regulatory approval; or
WebbThe legal meaning of the phrase “commercially reasonable efforts” does not enjoy clarity in the law. Lawyers and jurists alike should be excused if they view the law on this topic as not entirely self-evident. WebbBest efforts. Reasonable efforts. Commercially reasonable efforts. Including an efforts term to qualify a promise can be particularly useful when: The promisor's ability to …
Webb“best efforts,” “reasonable best efforts,” “commercially reasonable efforts” or similar language. These commit-ment standards are often heavily negotiated and can have … Webbför 2 dagar sedan · Several years ago, sports leagues’s efforts to push an integrity fee fizzled out before the idea was reborn in official league data.. This was even after bringing in the likes of Joe Torre and Al Leiter did not convince lawmakers anywhere to give in to the argument that sports leagues should be paid simply for existing, or the idea that without …
WebbThe legal meaning of the phrase “commercially reasonable efforts” does not enjoy clarity in the law. Lawyers and jurists alike should be excused if they view the law on this topic as …
WebbThis implies all possible actions that would be taken by a reasonable person who wishes to achieve a similar result in such circumstances. In other words, the party making the commitment to "best endeavours" should take appropriate actions, even if they are, to some extent, detrimental to its own interests. In practice, this means that a person ... onubadplatformWebb🇺🇸 💰 Driftwood LNG $1 billion deal details emerge The LOI envisages the parties will use commercially reasonable efforts to finalise the purchase agreement… Mehdy Touil på LinkedIn: Tellurian in $1 billion Driftwood LNG deal iot english testWebb22 nov. 2024 · Reasonable Efforts vs. Best Efforts Mr. Adams proposes an elegant solution: ignore the purported distinction and apply a “reasonable” standard to all “efforts” clauses. Basically, Adams argues that it is unreasonable to require someone to do more than is reasonable in a given situation. iotenterprise product.iniWebbReasonable efforts: still weaker standard, not requiring any action beyond what is typical under the circumstances. Commercially reasonable efforts: not requiring a party to take any action that would be commercially detrimental, including the expenditure of material unanticipated amounts or management time. What does reasonable effort mean? onua tv live todayWebbCommercially Reasonable Efforts means, for purposes of selling APM Qualifying Securities, commercially reasonable efforts to complete the offer and sale of APM … onubah bonifaceWebb22 nov. 2024 · This could occur in cases where both contracting parties agree on the level of “reasonable efforts” commitment, e.g., “commercially reasonable efforts,” which they both believe is a lesser commitment than “all reasonable efforts.” onu bacheletWebb7 juni 2010 · "Commercially Reasonable Efforts" The phrase "commercially reasonable efforts" is frequently used in contract drafting, with several dozen reported decisions … onu black and orange day