Contract Model-Language
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A Contract Model-Language is model language for a legal contract.
- AKA: Templated Contract Language.
- Context:
- It can be created by a Contract Model-Language Creation Process.
- It can be drawn from a Contract Model Agreement.
- It can be referenced by a Contract Language-based Review Rule.
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- Example(s):
- A Service Agreement Contract Model Language, such as:
- a Service Levels Model Language, such as:
- "The Provider shall maintain an uptime percentage of at least 99.9% for the Software as a Service Platform. Any failure to meet this uptime requirement will result in a service credit to the Client of 10% of the monthly SaaS fees for each period of downtime exceeding 4 hours."
- a Support Response Times Model Language, such as:
- "The Provider shall respond to Priority 1 support requests within 2 hours. Priority 2 requests within 8 hours. Priority 3 requests within 24 hours. Support shall be available 24/7."
- a Service Levels Model Language, such as:
- A License Agreement Contract Model Language, such as:
- a Grant of License Model Language, such as:
- "Licensor hereby grants to Licensee a non-exclusive, perpetual, worldwide license to install, access, and use the Software, subject to the terms and conditions of this Agreement."
- a License Scope Model Language, such as:
- "The license granted herein is solely for Licensee's internal business purposes and is limited to use on Licensee's owned or leased computers and mobile devices, up to a maximum of 100 users."
- a Grant of License Model Language, such as:
- A Lease Agreement Contract Model Language, such as:
- a Grant of Lease Model Language, such as:
- "Lessor hereby leases to Lessee the property located at [address] consisting of [square footage] (the "Premises")."
- a Lease Term Model Language, such as:
- "The term of this Lease shall be for a period of [number] years, commencing on [date]."
- a Grant of Lease Model Language, such as:
- …
- A Service Agreement Contract Model Language, such as:
- Counter-Example(s):
- See: Contract Model-Language Rule, Contract Policy Rule, Contract Language and Rule Coding Process.