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Full Conditional Waiver

Full Conditional Waiver Template for Germany

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Key Requirements PROMPT example:

Full Conditional Waiver

"I need a Full Conditional Waiver for a construction project where we'll waive claims against the contractor subject to completion of remedial works and final payment by March 15, 2025, under German law."

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Document background
The Full Conditional Waiver is a strategic legal instrument used in German business transactions where parties seek to resolve claims or modify obligations subject to specific conditions. This document type is particularly valuable in scenarios involving debt settlements, construction projects, corporate restructuring, or dispute resolution. The waiver becomes effective only upon satisfaction of predetermined conditions, which may include payment obligations, performance requirements, or other specific actions. Under German law, such conditional waivers must comply with the BGB's requirements regarding form, content, and conditions (Bedingungen). The document serves as a risk management tool by allowing parties to agree on the terms of a waiver while ensuring their interests are protected until all conditions are met.
Suggested Sections

1. Parties: Identification and details of all parties to the waiver agreement

2. Background: Context of the relationship between parties and circumstances leading to the waiver

3. Definitions: Definitions of key terms used throughout the document

4. Scope of Waiver: Detailed description of the rights, claims, or obligations being waived

5. Conditions: Specific conditions that must be met for the waiver to become effective

6. Effective Date: When the waiver becomes effective and how this relates to the conditions

7. Representations and Warranties: Statements of fact and assurances from the parties regarding their authority and the waived rights

8. Governing Law and Jurisdiction: Confirmation of German law as governing law and jurisdiction for disputes

9. Execution: Signature blocks and execution requirements

Optional Sections

1. Confidentiality: Required if the waiver involves confidential information or trade secrets

2. Third Party Rights: Needed if the waiver affects rights of parties not directly involved in the agreement

3. Partial Invalidity: Severability clause, recommended for complex waivers with multiple conditions

4. Data Protection: Required if personal data processing is involved in the waiver or its conditions

5. Notices: Include if ongoing communications are needed regarding the fulfillment of conditions

6. Amendment Provisions: Required for complex waivers where conditions might need future adjustment

7. Language Clause: Needed as document is in English but under German law, specifying prevailing language

Suggested Schedules

1. Schedule of Waived Rights: Detailed list of specific rights, claims, or obligations being waived

2. Schedule of Conditions: Detailed description of conditions and their verification requirements

3. Payment Schedule: If waiver is conditional on payments, details of amounts and payment terms

4. Related Agreements: List and details of any related agreements affected by the waiver

5. Authorized Representatives: List of persons authorized to verify or confirm fulfillment of conditions

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Agreement
Waiver
Effective Date
Conditions
Conditions Satisfaction Date
Waiving Party
Benefiting Party
Waived Rights
Related Agreement
Business Day
Confidential Information
Claim
Notice
Permitted Recipients
Verification Notice
Payment Condition
Payment Date
Default
Force Majeure Event
Material Adverse Change
Outstanding Obligations
Performance Condition
Representatives
Security
Third Party Rights
Verification Documents
Working Hours
Authorized Signatories
Escrow Account
Governing Law
Jurisdiction
Liability
Party/Parties
Release Date
Termination Event
Relevant Industries

Banking and Financial Services

Construction and Real Estate

Manufacturing

Insurance

Technology and Software

Professional Services

Energy and Utilities

Telecommunications

Retail and Consumer Goods

Healthcare

Relevant Teams

Legal

Finance

Compliance

Risk Management

Treasury

Commercial Operations

Project Management

Corporate Governance

Credit Control

Business Development

Relevant Roles

Legal Counsel

Contract Manager

Chief Financial Officer

Risk Manager

Commercial Director

Project Manager

Compliance Officer

Treasury Manager

Credit Controller

Business Development Manager

Corporate Secretary

Finance Director

Industries
Bürgerliches Gesetzbuch (BGB) § 126: Governs the written form requirements for contracts under German law
BGB § 158-163: Regulations regarding conditions (Bedingungen) in contracts, crucial for the conditional nature of the waiver
BGB § 311: Fundamental provisions about legal transactions and obligations, including the formation of contractual relationships
BGB § 397: Specific provisions regarding contract cancellation and waiver agreements (Erlassvertrag)
Gerichtsverfassungsgesetz (GVG) § 184: Provisions regarding the language of court proceedings and legal documents in Germany
Bundesdatenschutzgesetz (BDSG): Federal Data Protection Act - relevant if personal data is processed in the waiver agreement
BGB § 133: Rules for interpretation of declarations of intent, crucial for understanding the scope of the waiver
BGB § 305-310: Regulations regarding standard business terms (AGB), relevant if the waiver is part of standard terms
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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