contingent agreement

contingent agreement

Any agreement under which the rights or obligations of a party are subject to the happening of a stated contingency, e.g., an agreement between an owner and an architect in which part or all of the architect’s compensation is contingent upon the owner’s obtaining funds for the project (such as by successful referendum, sale of bonds, or other financing), or upon some other specially prescribed condition.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.
References in periodicals archive ?
Courts "examine the reasonableness of the contingent agreement both at the inception and as a matter of hindsight." 20 Atlantic Avenue Corp., 2009 WL 10692728 at *2.<br />A contingent fee agreement resulting in an "exceptional fee may withstand the reasonableness test if the risk of non-recovery at the outset of the contract is sufficiently high." Redlich v.
GN ReSound has also entered into a contingent agreement to acquire the Audigy, the company said.
The IRS position is that the entire award, including attorney fees under a contingent agreement or fee award, must be reported as income by the plaintiff and again as income by the attorney.
"The slow pace of negotiations with the government means the best a major utility can hope for is a complex, contingent agreement that holds them over until all these variables are settled." Results.
After the announcement was made, Willis CEO Joe Plumeri stated publicly that his firm still will not accept contingent commissions, to the uninformed; Plumeri was appearing to take the high road as he will no doubt continue to push for his view of a "level playing field," by insisting all producers share the punishment of eliminating contingent agreements.
"The [lawsuit-financing] industry can no longer write contingent agreements in the state of Ohio," Kaufmann said.
Full browser ?