The "Legal Effect" clause outlines the binding nature and enforceability of the contract or its provisions under applicable law. It emphasizes that the agreement is legally valid and that the parties are obligated to comply with its terms.
For matters not covered, the two parties can negotiate and conclude a supplementary contract. The supplementary contract has the same legal effect as this contract. Any party who fails to negotiate can bring a lawsuit to the people's court in China.
This contract shall be governed by the laws of the people's Republic of China. In case of any dispute that cannot be settled through negotiation, either party shall bring a lawsuit to the people's Court of Party A's domicile. This contract shall come into force from the date of signature and seal of both parties; in case of any modification, both parties shall sign and seal at the modification place or sign a written supplementary agreement, otherwise it shall not have legal effect
Legal Effect. This supplementary agreement is an integral part of the original contract and has the same legal effect as the original contract. If there is any inconsistency between this agreement and the original contract, the content of this agreement shall prevail. Other terms that is not addressed in this agreement, the content of the original contract shall continue to be valid.
This agreement shall come into force on the date of signature and seal by both parties. The agreement is made in duplicate, one for each party, with the same legal effect.
This agreement will take effect upon being signed and sealed by both parties. This agreement is made in duplicate, one copy for each party and each copy bearing the same legal effect. Any matters not specified herein shall be resolved by both parties and incorporated into additional agreements to be executed by both parties, which agreements shall bear the same legal effect as this agreement.
This contract is made in duplicate, with each party holding one copy. It has the same legal effect.
If the term of the loan hereunder is inconsistent with the actual fund withdrawal date, the loan term shall start on the first fund withdrawal date, the fund withdrawal date shall be subject to the receipt evidencing the withdrawal, which shall be an integral part of this contract and shall have the same legal effect as this contract.
This contract is made in [4] originals, including the borrower, lender, guarantor and the notary public or the mortgage registration authority shall hold one copy each, which shall have the same legal effect.
COUNTERPARTS. This Technical Amendment may be signed in any number of counterparts (and by different parties hereto on different counterparts), each of which shall be an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Technical Amendment that is an Electronic Signature transmitted by emailed pdf, or any other electronic means that reproduces an image of an actual executed signature page shall be effective as delivery of a manually executed counterpart of this Technical Amendment. The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to this Technical Amendment, any document to be signed in connection herewith and the transactions contemplated hereby shall be deemed to include Electronic Signatures, deliveries or the keeping of records in any electronic form (including deliveries by emailed pdf, or any other electronic means that reproduces an image of an actual executed signature page), each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper based recordkeeping system, as the case may be; provided that, nothing herein shall require the Administrative Agent to accept Electronic Signatures in any form or format without its prior written consent and pursuant to procedures approved by it; provided further that, without limiting the foregoing, (i) to the extent the Administrative Agent has agreed to accept any Electronic Signature, the Administrative Agent and each of the Lenders shall be entitled to rely on such Electronic Signature purportedly given by or on behalf of the Borrower without further verification thereof and without any obligation to review the appearance or form of any such Electronic Signature and (ii) upon the request of the Administrative Agent, any Electronic Signature shall be promptly followed by a manually executed counterpart. Without limiting the generality of the foregoing, the Borrower hereby (i) agrees that, for all purposes, including in connection with any workout, restructuring, enforcement of remedies, bankruptcy proceedings or litigation among the Administrative Agent, the Lenders, the Borrower and the other Loan Parties, Electronic Signatures transmitted by emailed pdf, or any other electronic means that reproduces an image of an actual executed signature page and/or any electronic images of this Technical Amendment shall have the same legal effect, validity and enforceability as any paper original, (ii) agrees that the Administrative Agent and each of the Lenders may, at its option, create one or more copies of this Technical Amendment in the form of an imaged electronic record in any format, which shall be deemed created in the ordinary course of such Person’s business, and destroy the original paper document (and all such electronic records shall be considered an original for all purposes and shall have the same legal effect, validity and enforceability as a paper record), (iii) waives any argument, defense or right to contest the legal effect, validity or enforceability of this Technical Amendment based solely on the lack of paper original copies of this Technical Amendment, including with respect to any signature pages thereto and (iv) waives any claim against any Lender Related Person for any Liabilities arising solely from the Administrative Agent’s and/or any Lender’s reliance on or use of Electronic Signatures and/or transmissions by emailed pdf, or any other electronic means that reproduces an image of an actual executed signature page, including any Liabilities arising as a result of the failure of the Borrower to use any available security measures in connection with the execution, delivery or transmission of any Electronic Signature.
Without mutual agreement and written confirmation by both parties, on the premise that neither party has a breach of contract, either party unilaterally claims the modification or termination of this contract without the legal effect of contract modification and termination, and if the other party suffers losses, it shall compensate the other party for the economic losses suffered.
Any change to this contract shall be made by both parties through consultation and in writing. The changed terms or agreement shall form a part of this contract and have the same legal effect as this contract. Except for the changed part. The rest of the contract is still valid, and the original terms of the contract are still valid before the change takes effect.
Statement of the borrower:the borrower has read all the terms and contents of this contract and its annexes in detail, and the lender has made a detailed explanation and explanation to the borrower on all the terms and contents of this contract. The borrower fully understands all contents of this contract. Know and acknowledge that this contract and relevant annexes under this contract, including but not limited to letter of guarantee and receipt of loan, are signed in the form of electronic signature and have legal effect.
Statement of the lender: the lender knows and acknowledges this contract and relevant annexes under this contract. Including but not limited to letter of guarantee and promissory note, they are all signed in the form of electronic signature and have legal effect.
Any such counterpart to the extent delivered by Electronic Delivery shall be treated in all manner and respects as an original executed counterpart and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No Party hereto shall raise the use of Electronic Delivery to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the formation of a contract, and each Party forever waives any such defense, except to the extent that such defense relates to lack of authenticity.
Legal effect refers to the legally binding power or consequences of a document, action, or decision. When a document or action has legal effect, it creates legal rights, obligations, or liabilities. This term is commonly used in the context of contracts, statutes, regulations, and court rulings where parties are bound by the terms and conditions outlined within them.
You should consider legal effect in the following contexts:
To ensure that a document or agreement has legal effect:
Example of a clause with legal effect in a contract: “The parties agree that any disputes arising under this contract will be settled through binding arbitration.”
Contracts that typically carry legal effect include:
Understanding and employing legal effect is crucial for the enforceability and validity of legal documents and agreements.
Try our AI contract analysis and extract important clauses and information from existing contracts.
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The "Legal Name and Jurisdiction of Formation" clause identifies the official name of a party to the contract and specifies the legal jurisdiction under which the entity was formed or registered. This information is crucial for recognizing the party's legal standing and ensuring compliance with applicable laws and regulations.
A legally compelled disclosure clause requires a party to disclose confidential information in compliance with a legal obligation, such as a court order, subpoena, or regulatory demand. This clause often mandates notifying the other party before the disclosure is made and seeks to limit the disclosed information to the minimum necessary to comply with the legal requirement.
A legend on stock certificates is a statement or notation on the face of a stock certificate that outlines specific restrictions or conditions related to the transfer or sale of the shares represented by the certificate. Typically used to ensure compliance with securities laws, such legends may indicate, for example, that the shares are subject to lock-up periods, transfer restrictions, or are part of a private placement exempt from certain registration requirements.
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