Time Critical

How is Time Critical defined in a legal contract?

• Time Critical means a requirement of vital importance and immediate attention, the neglect of which may lead to significant risks to the [organization]'s resources. Seen in 6 SEC filings
• Time Critical means circumstances where action is required by a party by a specified deadline, and it's unable to consult with relevant [parties] due to time constraints. Seen in 2 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of time critical' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Time Critical means an imperative requirement posing severe risk if not immediately addressed.

Relevant Contract Types

• Service Level Agreements (SLAs)
• Emergency Response Contract
• IT Project Contract

Relevant Circumstances

• Deadline-bounded projects
• Emergency situations
• High-stakes business decisions

Relevant Sectors

• IT Services
• Healthcare
• Consulting

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Genie Definition 2

Time Critical means necessary action with a specific deadline, impeded by unavoidable constraints.

Relevant Contract Types

• Construction Contracts
• Product Delivery Contract
• Project Management Contract

Relevant Circumstances

• Time-bound construction projects
• Product deliveries with strict deadlines
• Project management with strict schedule

Relevant Sectors

• Construction
• E-Commerce
• Logistics

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