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Conditional Contract for Austria

Conditional Contract Template for Austria

This document is an Austrian law-governed conditional contract that establishes legally binding obligations which become effective or terminate upon the occurrence of specified conditions. It follows the requirements of the Austrian Civil Code (ABGB) and related commercial legislation, incorporating specific provisions for condition precedent and/or subsequent. The agreement clearly defines the conditions, timelines, and consequences of fulfillment or non-fulfillment, while ensuring compliance with Austrian contract formation and interpretation principles. It includes comprehensive provisions for notification requirements, good faith obligations, and dispute resolution mechanisms under Austrian jurisdiction.

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What is a Conditional Contract?

The Conditional Contract is a sophisticated legal instrument used in Austrian business and commercial transactions where parties wish to make their obligations contingent upon certain events or conditions. This document type is particularly relevant when the execution of contractual obligations depends on future uncertain events, regulatory approvals, due diligence completion, or specific performance metrics. Under Austrian law, the contract must clearly define these conditions and their consequences, following the provisions of the ABGB (Austrian Civil Code). The document is commonly used in real estate transactions, corporate acquisitions, construction projects, and financing arrangements where parties need to establish clear frameworks for condition fulfillment and subsequent obligations. It includes detailed provisions for monitoring and reporting on condition status, ensuring transparency and legal certainty for all parties involved.

What sections should be included in a Conditional Contract?

1. Parties: Identification and details of the contracting parties

2. Background: Context of the agreement and general purpose

3. Definitions: Defined terms used throughout the agreement

4. Conditions: Clear specification of all conditions precedent and/or subsequent that trigger or terminate obligations

5. Timeline and Deadlines: Specific timeframes for fulfillment of conditions and related obligations

6. Main Obligations: Core obligations of each party subject to the conditions

7. Consequences of Condition Fulfillment: Effects and obligations that arise when conditions are met

8. Consequences of Non-Fulfillment: Consequences and parties' rights if conditions are not met

9. Notification Requirements: Obligations to inform other parties about condition fulfillment or non-fulfillment

10. Term and Termination: Duration of the agreement and termination provisions

11. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction

12. Entire Agreement: Integration clause and relationship to other agreements

What sections are optional to include in a Conditional Contract?

1. Good Faith Obligations: Specific duties to work towards condition fulfillment, used when parties need to actively cooperate

2. Force Majeure: Provisions for extraordinary circumstances affecting condition fulfillment

3. Confidentiality: Required when sensitive information is exchanged during the conditional period

4. Assignment: Rules for transferring rights under the conditional contract, if transfers are contemplated

5. Third Party Rights: Needed when conditions involve or affect third parties

6. Insurance Requirements: Used when specific insurance coverage is required during the conditional period

7. Data Protection: Required when personal data processing is involved

8. Costs and Expenses: Allocation of costs related to fulfilling conditions, if significant costs are involved

What schedules should be included in a Conditional Contract?

1. Condition Specifics: Detailed technical or commercial specifications of conditions

2. Required Documentation: List and forms of documents needed to prove condition fulfillment

3. Timeline Schedule: Detailed timeline of condition-related deadlines and milestones

4. Property/Asset Schedule: Details of any property or assets subject to the conditions

5. Price Adjustment Mechanisms: Formulas or calculations for price adjustments based on condition fulfillment

6. Form of Notices: Template forms for required notifications regarding conditions

7. Due Diligence Requirements: Checklist of due diligence items if relevant to conditions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Austria

Publisher

Ƶ

Document Type

Agreement Contract

Cost

Free to use
Relevant legal definitions





































Clauses





































Relevant Industries

Real Estate

Banking & Finance

Construction

Manufacturing

Technology

Retail

Professional Services

Energy

Healthcare

Agriculture

Transportation & Logistics

Telecommunications

Relevant Teams

Legal

Compliance

Commercial

Business Development

Operations

Finance

Risk Management

Procurement

Project Management

Real Estate

Investment

Corporate Development

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Project Manager

Real Estate Manager

Procurement Manager

Commercial Director

Risk Manager

Compliance Officer

Operations Manager

Chief Financial Officer

Investment Manager

Property Developer

General Counsel

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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