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PLAYBOOK TEMPLATES
Guarantee & Security Agreement
A Guarantee & Security Agreement provides collateral and personal guarantees securing performance or payment obligations. This playbook details drafting considerations for enforcement rights, perfection, and priority of security interests.
Conditions Precedent
Negotiation strategy
Ensure conditions are specific and achievable within a realistic timeline. Include waiver provisions for minor issues to maintain flexibility.
Negotiate for conditions that protect your interests without causing unnecessary delays. Be open to waivers for non-critical conditions.
Essential elements
1
Specific Conditions
Clearly defined prerequisites.
2
Waiver Provisions
Allow flexibility for minor issues.
3
Timeline for Satisfaction
Realistic deadlines for conditions.
Action framework
ACCEPT
Propose edits when conditions are too vague or unrealistic.
EDIT
Reject if conditions introduce excessive risk or delay.
ADD
Add conditions if none exist to ensure prerequisites are met.
PRO TIP
Always include waiver provisions to handle minor issues without delaying the transaction.
Real-world examples
FAVORABLE
Well-Defined Conditions
"The following conditions precedent must be satisfied prior to closing: [list specific conditions]. Waiver of minor conditions may be granted at the discretion of [Party]."
NEUTRAL
Standard Conditions
"Conditions precedent include [list conditions]. Parties may agree to waive minor conditions that do not materially affect the transaction."
UNFAVORABLE
Vague Conditions
"Conditions precedent are to be determined at a later date, with no specific timeline or waiver provisions."
Alternative scenarios & positions
High-Risk Projects
In high-risk projects, ensure conditions are comprehensive to mitigate potential risks. Include detailed timelines and waiver provisions.
Cross-Border Transactions
For cross-border deals, consider jurisdiction-specific conditions to ensure compliance with local laws and regulations.
Fast-Track Closings
In fast-track closings, streamline conditions to essential items only, ensuring they are achievable within the expedited timeline.
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WEEK 1
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WEEK 2
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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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