Event definition: Copy, customize, and use instantly
Introduction
The term "Event" refers to a specific occurrence, condition, or activity that has legal, financial, or operational significance within the context of an agreement or contract. It is essential for defining specific circumstances or milestones that trigger obligations, rights, or remedies under the terms of the agreement.
Below are various examples of how "Event" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Event" as a condition triggering contractual obligations
This definition ties "Event" to conditions that activate specific contract terms.
"Event" means any condition or occurrence specified in this agreement that triggers an obligation, such as payment, performance, or notification, by one or more parties under the terms of the contract.
Definition of "Event" as a force majeure occurrence
This definition connects "Event" to unforeseen circumstances beyond control.
"Event" refers to a force majeure occurrence, such as natural disasters, strikes, or acts of war, that prevents one or more parties from fulfilling their contractual obligations.
Definition of "Event" as a milestone in project management
This definition links "Event" to project milestones or deliverables.
"Event" means a defined milestone or deliverable within the scope of a project, marking the completion of a significant phase or task as specified in the agreement.
Definition of "Event" as a financial occurrence
This definition applies "Event" to financial triggers.
"Event" refers to any financial occurrence, such as a default, payment due date, or funding disbursement, that impacts the financial obligations of the parties under the agreement.
Definition of "Event" as a termination trigger
This definition ties "Event" to conditions that lead to contract termination.
"Event" means any occurrence or condition specified in this agreement that allows for or results in the termination of the contract, such as breach, insolvency, or mutual consent.
Definition of "Event" as an operational trigger
This definition connects "Event" to operational processes.
"Event" refers to any operational trigger, such as the commencement of services, delivery of goods, or achievement of key performance indicators (KPIs), that initiates specific actions under the agreement.
Definition of "Event" as a regulatory or compliance occurrence
This definition links "Event" to legal or compliance obligations.
"Event" means any occurrence that requires compliance with regulatory or legal requirements, such as filing deadlines, audit findings, or regulatory investigations.
Definition of "Event" as a material change in circumstances
This definition applies "Event" to significant changes affecting the contract.
"Event" refers to a material change in circumstances, such as changes in market conditions, operational capacity, or legal status, that impacts the performance or enforcement of this agreement.
Definition of "Event" as a scheduled occurrence
This definition ties "Event" to pre-planned or scheduled activities.
"Event" means a scheduled occurrence, such as a meeting, performance, or delivery date, that is explicitly outlined in the agreement and requires action by one or more parties.
Definition of "Event" as a default or breach occurrence
This definition connects "Event" to breaches or defaults under a contract.
"Event" refers to any default, breach, or failure to perform as outlined in this agreement, triggering remedies or rights for the non-breaching party.
Definition of "Event" as a business contingency
This definition links "Event" to business continuity planning.
"Event" means any business contingency, such as disruptions in supply chains, operational shutdowns, or unexpected market changes, that necessitates action under the terms of this agreement.
Definition of "Event" as a triggering incident for remedies
This definition applies "Event" to incidents that allow parties to exercise remedies.
"Event" refers to any incident or occurrence specified in the agreement that gives rise to a right to remedies, such as indemnification, penalty enforcement, or specific performance.
Definition of "Event" as a condition for performance milestones
This definition ties "Event" to milestones that require performance by one or more parties.
"Event" means a condition or milestone that requires specific performance under the agreement, such as meeting delivery deadlines, reaching production targets, or completing contractual obligations.
Definition of "Event" as a triggering mechanism for penalties
This definition connects "Event" to occurrences that invoke penalties or fines.
"Event" refers to any occurrence or condition that triggers penalties or fines under the agreement, such as delays, non-compliance, or breach of terms.
Definition of "Event" as a material adverse occurrence
This definition links "Event" to significant adverse changes affecting the agreement.
"Event" means any material adverse occurrence, such as significant financial losses, operational disruptions, or reputational damage, that materially impacts the performance or enforceability of this agreement.
Definition of "Event" as a precondition to payment
This definition applies "Event" to occurrences that determine payment obligations.
"Event" refers to any occurrence that acts as a precondition to payment, such as the submission of an invoice, completion of a milestone, or delivery of goods or services as specified in the agreement.
Definition of "Event" as a notice-triggering occurrence
This definition ties "Event" to conditions requiring notice to one or more parties.
"Event" means any occurrence that triggers a notice requirement under the agreement, such as changes in ownership, legal status, or significant operational developments.
Definition of "Event" as a force majeure resolution
This definition connects "Event" to occurrences that resolve force majeure disruptions.
"Event" refers to any occurrence that marks the resolution of a force majeure situation, allowing the parties to resume performance of their contractual obligations under the agreement.
Definition of "Event" as a regulatory approval milestone
This definition links "Event" to regulatory or governmental approval processes.
"Event" means the achievement of regulatory approval, licensing, or certification required for the performance of specific obligations or the continuation of the agreement.
Definition of "Event" as a condition impacting timelines
This definition applies "Event" to circumstances that influence agreed timelines.
"Event" refers to any condition or occurrence that impacts the timelines specified in the agreement, including delays, early completions, or extensions requested by either party.
Definition of "Event" as a contingency plan activator
This definition ties "Event" to occurrences that necessitate contingency planning.
"Event" means any occurrence or situation that activates contingency planning measures outlined in the agreement, such as operational disruptions, supply chain failures, or unexpected market conditions.
Definition of "Event" as an unforeseen operational disruption
This definition connects "Event" to unexpected disruptions affecting operations.
"Event" refers to any unforeseen disruption to operations, including equipment failures, labor disputes, or natural disasters, that impacts the ability of one or more parties to fulfill their contractual obligations.
Definition of "Event" as a contractual renegotiation trigger
This definition links "Event" to occurrences that require renegotiation of terms.
"Event" means any occurrence that necessitates the renegotiation of contract terms, such as changes in law, market conditions, or material changes in the circumstances of either party.
Definition of "Event" as an external market occurrence
This definition ties "Event" to external market conditions affecting the agreement.
"Event" means any external market occurrence, such as fluctuations in currency exchange rates, changes in market demand, or economic downturns, that impacts the execution or enforceability of the contract.
Definition of "Event" as an operational milestone
This definition connects "Event" to key operational achievements.
"Event" refers to a key operational milestone, such as the launch of a new product, completion of infrastructure setup, or achievement of a specific project phase, that is critical to fulfilling the agreement’s objectives.
Definition of "Event" as a triggering incident for dispute resolution
This definition links "Event" to situations necessitating dispute resolution.
"Event" means any incident or disagreement between the parties that triggers the dispute resolution process as outlined in the agreement, such as claims of non-performance or contractual misinterpretation.
Definition of "Event" as an occurrence affecting contractual timelines
This definition applies "Event" to conditions influencing the timing of obligations.
"Event" refers to any occurrence that directly affects the agreed-upon timelines for performance under the contract, such as delays caused by third-party actions or unforeseen circumstances.
Definition of "Event" as a compliance threshold
This definition ties "Event" to achieving compliance or regulatory thresholds.
"Event" means an occurrence or condition that signifies compliance with specific regulatory, environmental, or legal thresholds, as required under the terms of this agreement.
Definition of "Event" as a critical business change
This definition connects "Event" to significant business transformations.
"Event" refers to any critical business change, such as a merger, acquisition, divestiture, or restructuring, that affects the ability of a party to fulfill its obligations under the agreement.
Definition of "Event" as a condition requiring stakeholder approval
This definition links "Event" to occurrences that necessitate stakeholder consent.
"Event" means any occurrence that requires approval or consent from key stakeholders, such as shareholders, regulatory bodies, or board members, before proceeding with specific actions outlined in the agreement.
Definition of "Event" as a funding milestone
This definition applies "Event" to financial funding triggers.
"Event" refers to any milestone or condition that triggers the release of funds, such as the completion of a project phase, achievement of a performance target, or submission of required documentation.
Definition of "Event" as a condition necessitating contract review
This definition ties "Event" to triggers for reevaluating contract terms.
"Event" means any condition or occurrence that necessitates a formal review of the contract terms, such as changes in applicable laws, market conditions, or operational scope.
Definition of "Event" as a significant partnership change
This definition connects "Event" to changes in partnership dynamics.
"Event" refers to any significant change in partnership dynamics, such as the addition or removal of a key partner, that impacts the roles, responsibilities, or obligations outlined in the agreement.
Definition of "Event" as a legal or regulatory investigation
This definition links "Event" to investigations that affect contractual performance.
"Event" means any legal or regulatory investigation, inquiry, or proceeding that may influence the ability of a party to perform its obligations under the agreement.
Definition of "Event" as an emergency condition
This definition applies "Event" to emergency situations impacting contractual obligations.
"Event" refers to any emergency condition, such as a public health crisis, cyberattack, or critical infrastructure failure, that disrupts normal operations and affects contractual obligations.
Definition of "Event" as a significant economic occurrence
This definition ties "Event" to macroeconomic changes influencing the agreement.
"Event" means any significant economic occurrence, such as inflation spikes, recession, or changes in trade policies, that directly impacts the terms or performance of the agreement.
Definition of "Event" as a data security breach
This definition connects "Event" to cybersecurity incidents affecting the agreement.
"Event" refers to any data security breach or unauthorized access to information systems that compromises the confidentiality, integrity, or availability of data relevant to the agreement.
Definition of "Event" as a contractual milestone achievement
This definition links "Event" to the completion of contractual milestones.
"Event" means the successful achievement of a contractual milestone, such as completing deliverables, meeting specified deadlines, or reaching agreed-upon performance metrics.
Definition of "Event" as an unforeseen technical failure
This definition applies "Event" to technical disruptions impacting obligations.
"Event" refers to any unforeseen technical failure, such as system outages, hardware breakdowns, or software malfunctions, that affects the performance of contractual obligations.
Definition of "Event" as a triggering point for renegotiation
This definition ties "Event" to conditions prompting renegotiation of terms.
"Event" means any occurrence or condition that necessitates the renegotiation of specific contractual terms, such as substantial changes in market dynamics, laws, or operational scope.
Definition of "Event" as a merger or acquisition activity
This definition connects "Event" to corporate restructuring or ownership changes.
"Event" refers to any merger, acquisition, or corporate restructuring activity involving either party that has implications for the continuation or modification of the agreement.
Definition of "Event" as a natural disaster occurrence
This definition links "Event" to natural disasters affecting performance.
"Event" means any natural disaster, such as earthquakes, hurricanes, or floods, that disrupts the ability of one or more parties to fulfill their contractual obligations.
Definition of "Event" as a shareholder action
This definition applies "Event" to decisions or actions taken by shareholders.
"Event" refers to any shareholder action, such as voting on significant organizational changes or approving financial transactions, that affects the execution of the agreement.
Definition of "Event" as a key personnel change
This definition ties "Event" to changes in critical leadership or personnel.
"Event" means the resignation, replacement, or addition of key personnel, whose involvement is essential to the execution of the terms and obligations outlined in the agreement.
Definition of "Event" as a project cancellation
This definition connects "Event" to the discontinuation of a project.
"Event" refers to the cancellation or indefinite suspension of a project, initiative, or deliverable that impacts the obligations and rights established under the agreement.
Definition of "Event" as an audit-triggering incident
This definition links "Event" to occurrences necessitating an audit.
"Event" means any incident or condition that triggers the requirement for an internal or external audit under the terms of the agreement, such as financial discrepancies or operational inconsistencies.
Definition of "Event" as a compliance-related occurrence
This definition applies "Event" to regulatory or policy compliance events.
"Event" refers to any compliance-related occurrence, such as meeting new regulatory requirements, obtaining permits, or addressing compliance violations, that is specified as a condition under the agreement.
Definition of "Event" as a warranty-triggering condition
This definition ties "Event" to conditions invoking warranty terms.
"Event" means any condition or circumstance that triggers a warranty obligation, such as product defects, performance failures, or deviations from agreed specifications under the agreement.
Definition of "Event" as an external approval requirement
This definition connects "Event" to third-party approvals or endorsements.
"Event" refers to the requirement for external approvals, such as regulatory consent, industry certification, or third-party validation, as a prerequisite for fulfilling contractual obligations.
Definition of "Event" as a condition for service level evaluation
This definition links "Event" to performance evaluations.
"Event" means any condition or occurrence that necessitates an evaluation of service levels, such as meeting or failing to meet agreed-upon performance benchmarks under the terms of the agreement.
Definition of "Event" as a condition for escalation procedures
This definition ties "Event" to incidents requiring escalation protocols.
"Event" means any occurrence that triggers escalation procedures outlined in the agreement, such as unresolved disputes, prolonged delays, or significant deviations from performance expectations.
Definition of "Event" as a supplier or vendor disruption
This definition connects "Event" to interruptions in supplier or vendor services.
"Event" refers to any disruption in the supply chain or vendor services, such as delays in delivery, quality issues, or non-fulfillment of contractual obligations, that impacts the performance of the agreement.
Definition of "Event" as a planned organizational activity
This definition links "Event" to planned internal or external organizational activities.
"Event" means any planned activity, such as product launches, stakeholder meetings, or marketing campaigns, that is outlined in the agreement as a key deliverable or milestone.
Definition of "Event" as a funding contingency
This definition applies "Event" to conditions tied to funding disbursements.
"Event" refers to any occurrence or condition that acts as a contingency for the disbursement of funds, such as the submission of project reports, verification of milestones, or approval by a funding body.
Definition of "Event" as a resource allocation trigger
This definition ties "Event" to occurrences requiring resource adjustments.
"Event" means any condition or occurrence that necessitates the allocation, reallocation, or withdrawal of resources, including manpower, equipment, or financial assets, as stipulated in the agreement.
Definition of "Event" as a termination notice condition
This definition connects "Event" to situations that mandate termination notifications.
"Event" refers to any condition or situation that triggers the issuance of a termination notice, such as breaches of contract, insolvency, or mutual agreement to conclude the terms of the agreement.
Definition of "Event" as a joint venture milestone
This definition links "Event" to specific achievements in joint ventures.
"Event" means any milestone in a joint venture, such as the completion of shared goals, investment rounds, or transfer of intellectual property rights, that is critical to the collaboration’s success.
Definition of "Event" as a technology upgrade or replacement
This definition applies "Event" to technological changes impacting the contract.
"Event" refers to any technology upgrade, replacement, or obsolescence that affects the systems, tools, or infrastructure required to fulfill the terms of the agreement.
Definition of "Event" as an external dispute or litigation
This definition ties "Event" to legal disputes impacting performance.
"Event" means any external dispute, litigation, or legal proceeding involving either party that influences their ability to meet contractual obligations under the agreement.
Definition of "Event" as a data transfer or migration milestone
This definition connects "Event" to the transfer of data or systems.
"Event" refers to any milestone related to the transfer or migration of data, systems, or operational tools, as outlined in the agreement, that impacts the continuity of services or deliverables.
Definition of "Event" as a market entry or exit trigger
This definition links "Event" to market expansion or withdrawal conditions.
"Event" means any occurrence that triggers entry into or exit from a specific market, such as regulatory approvals, completion of feasibility studies, or fulfillment of market entry prerequisites.
Definition of "Event" as an obligation suspension condition
This definition applies "Event" to conditions that temporarily suspend obligations.
"Event" refers to any condition or occurrence, such as force majeure or mutual agreement, that temporarily suspends the obligations of one or more parties under the terms of the agreement.
Definition of "Event" as a regulatory compliance deadline
This definition ties "Event" to compliance-related deadlines.
"Event" means any deadline for regulatory compliance, such as submitting reports, obtaining licenses, or adhering to legal updates, as specified in the agreement.
Definition of "Event" as an environmental impact condition
This definition connects "Event" to conditions tied to environmental considerations.
"Event" refers to any condition that involves or impacts environmental considerations, such as emissions limits, sustainability benchmarks, or environmental audits, as required under the terms of the agreement.
Definition of "Event" as a shared asset transfer
This definition links "Event" to the transfer of jointly held assets.
"Event" means any occurrence that involves the transfer, redistribution, or valuation of jointly held assets, such as intellectual property, equipment, or financial resources, under the terms of the agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.