Definitions

Definitions guidance:

Business Day means a day other than a Saturday, Sunday or public holiday[, on which clearing banks are open for non-automated commercial business in the [City of...

Precedents

Confidential Information—mutual ‘Confidential Information’ means all information of a confidential nature (in whatever form) which relates to the Purpose and is received...

Precedents

Control [has the meaning given to it in section 1124 of the Corporation Tax Act 2010 OR means the beneficial ownership of more than 50% of the issued share capital of a...

Precedents

The question of who owns intellectual property in the designs, drawings, specifications etc created in relation to a construction project is very important for all the...

Practice Note

Force majeure Force majeure means an act of God including but not limited to fire, flood, earthquake, windstorm or other natural disaster; act of any sovereign including...

Precedents

Funder definition Funder means a party (acting for itself and, where he leads for a syndicate of persons, as agent and trustee for them) who agrees to provide or is...

Precedents

Funder definition Funder means a party (acting for itself and, where it leads for a syndicate of persons, as agent and trustee for them) who agrees to provide or is...

Precedents

Group Company means, in relation to a company, any member of its Group; Close This is a suggested definition for the term 'group company', which is a term commonly used...

Precedents

Group means, in relation to a company, that company, any subsidiary or holding company [from time to time OR at the date of this agreement] of that company [and any...

Precedents

holding company means [a ‘holding company’ as defined by section 1159 of the Companies Act 2006 [and a company shall be treated, for the purposes of the membership...

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Insolvent definition Insolvent means if the [Consultant OR Contractor] goes into liquidation (except for the purpose of solvent amalgamation or reconstruction),...

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Intellectual Property Rights means copyright, rights related to copyright such as moral rights and performers rights, patents, rights in inventions, rights in...

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Long-stop Date [insert time] [am OR pm] on [insert date] or such later date as may be agreed[ in writing] between the parties;

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Definitions for use in a building contract ‘Practical Completion’ means a state in which the Works or any Section thereof are complete in all respects and free from...

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Purchaser definition Purchaser means any [first] purchaser of the whole [or any part] of the site upon which the Works are situated whether by way of freehold or long...

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Statutory undertaker Statutory undertaker means any party executing work or services in pursuance of its statutory powers and obligations which shall include but not be...

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subsidiary means [a ‘subsidiary’ as defined by section 1159 of the Companies Act 2006 [and a company shall be treated, for the purposes of the membership requirement...

Precedents

Tenant definition Tenant means any [first] tenant of the whole [or any part] of the site upon which the Works are situated [or any tenant taking a new lease following the...

Precedents

VAT means United Kingdom value added tax[, OR and] any other tax imposed in substitution for it [and any equivalent or similar tax imposed outside the United Kingdom];...

Precedents

Practical completion marks the end of the construction period of a project, when the works are 'finished' and the employer can occupy and/or use them. Practical...

Practice Note
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