4
PLAYBOOK TEMPLATES
Grant Agreement
A Grant Agreement documents funding terms for projects or research initiatives. This playbook explores performance milestones, reporting requirements, and clawback conditions.
Closing Conditions
Negotiation strategy
Ensure all conditions are clearly defined and achievable within the agreed timeline. Negotiate for flexibility in waiving conditions that may become unnecessary.
Focus on securing conditions that protect your interests, such as obtaining necessary approvals. Be prepared to demonstrate compliance with all conditions.
Essential elements
1
Satisfaction of Conditions
Conditions must be met or waived.
2
Mutual Obligations
Parties must cooperate to meet conditions.
3
Timeline for Satisfaction
Conditions must be met by a set date.
Action framework
ACCEPT
Propose edits if conditions are unclear or overly burdensome.
EDIT
Reject if conditions are impossible to meet or unfairly biased.
ADD
Add new conditions if necessary to protect interests.
PRO TIP
Always ensure that conditions are realistic and that both parties are committed to fulfilling them.
Real-world examples
FAVORABLE
Satisfaction of Conditions Precedent
"The closing of the transaction is subject to the satisfaction or waiver of the following conditions precedent: (a) all representations and warranties of the parties shall be true and correct in all material respects as of the closing date; (b) all covenants and agreements required to be performed by the parties on or before the closing date shall have been duly performed; (c) all necessary governmental and third-party consents, approvals, and authorizations shall have been obtained; and (d) no material adverse change shall have occurred with respect to the parties involved."
NEUTRAL
Mutual Obligations
"Each party shall use commercially reasonable efforts to satisfy the conditions precedent set forth herein. The parties shall cooperate with each other and provide such information and assistance as may be reasonably requested to facilitate the satisfaction of the conditions precedent."
UNFAVORABLE
Unclear Conditions
"The conditions for closing shall be determined at a later date, subject to mutual agreement."
Alternative scenarios & positions
High-Risk Projects
In high-risk projects, ensure that conditions are stringent enough to mitigate potential risks but not so restrictive that they hinder project progress.
Cross-Border Transactions
Consider additional conditions related to international approvals and compliance with foreign regulations, which may require extended timelines.
Regulatory Approvals
For transactions requiring regulatory approvals, include specific conditions related to obtaining these approvals and consider potential delays in the process.
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WEEK 1
CLM Readiness and Design
Our CX team works with you to understand your contracting challenges, prioritize key workflows, and identify the biggest impact areas. We build a tailored implementation plan that fits your needs.
WEEK 2
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We connect DocJuris to your contract repositories, set up admin and user accounts, and ensure your environment is ready for success.
WEEK 3
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Your team builds initial playbooks, reviews existing clause libraries, and trains the DocJuris agent to align with your internal standards and negotiation positions.
WEEK 4
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