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# Concurrent Condition Agreement
**This Concurrent Condition Agreement ("Agreement") is made and entered into as of [Date] by and between:**
**PARTIES:**
- **[Party A Name]**
Address: [Party A Address]
Contact: [Party A Contact Information]
(Hereinafter referred to as "Party A")
- **[Party B Name]**
Address: [Party B Address]
Contact: [Party B Contact Information]
(Hereinafter referred to as "Party B")
**RECITALS:**
WHEREAS, Party A and Party B desire to mutually benefit from certain obligations and performance;
WHEREAS, both parties intend that the obligations under this Agreement shall occur simultaneously or in a mutually agreed order;
NOW, THEREFORE, in consideration of the mutual promises herein contained, Party A and Party B agree as follows:
## 1. DEFINITIONS
1.1 **Concurrent Condition**: A situation where the performance of one party’s obligation is conditioned upon the performance of another party's obligations occurring at the same time.
## 2. OBLIGATIONS OF THE PARTIES
2.1 **Obligations of Party A**: Party A agrees to perform the following obligations:
- [List of obligations for Party A]
2.2 **Obligations of Party B**: Party B agrees to perform the following obligations:
- [List of obligations for Party B]
## 3. CONDITION PRECEDENT
3.1 The obligations of both parties are subject to the condition that [specific conditions necessary for the performance, if any].
## 4. DEFAULT
4.1 If either party fails to perform under this Agreement, the non-defaulting party shall provide written notice to the defaulting party, allowing them [number of days, e.g., "30 days"] to cure such failure before seeking any remedies.
## 5. TERMINATION
5.1 This Agreement may be terminated by either party upon [number of days] written notice, provided that any obligations under this Agreement have not been fulfilled.
## 6. AMENDMENTS
6.1 This Agreement may only be amended in writing signed by both parties.
## 7. GOVERNING LAW
7.1 This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
## 8. ENTIRE AGREEMENT
8.1 This Agreement constitutes the entire understanding between the parties and supersedes all prior discussions, agreements, and understandings of any kind.
**IN WITNESS WHEREOF, the parties hereto have executed this Concurrent Condition Agreement as of the date first above written.**
_______________________________
**[Party A Name]**
**Date: [Date]**
_______________________________
**[Party B Name]**
**Date: [Date]**
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*This template is for informational purposes only and does not constitute legal advice. Parties should consult with a qualified attorney before entering into any contractual agreement.*