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I have a contract for consulting services from a company in…

I have a contract...

I have a contract for consulting services from a company in Connecticut. It was made in August of 2015. There is a success fee attached to the project which relies on not only a successful outcome of a license award (this already happened) but project financing. I would like to ensure that this agreement is still viable.

Lawyer's Assistant: Has anything been filed or reported?

No No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No, I just need to know that the agreement is still viable when the financing is approved.

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Answered in 22 minutes by:
3/12/2018
Attorney Wendy
Category: Legal
Satisfied Customers: 1,375
Experience: Member at Keefer & Keefer LLC
Verified

Hello. My name is ***** ***** I am an attorney. I am working on a response to your question and should have that to you shortly. If it is possible for you to provide a copy of the contract, I can provide a more thorough response.

Attorney Wendy
Category: Legal
Satisfied Customers: 1,375
Experience: Member at Keefer & Keefer LLC
Verified
Attorney Wendy and 87 other Legal Specialists are ready to help you
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Customer reply replied 5 months ago
I can scan an provide a copy. Where should I send it?
Phone call session started

Let's see if I respond to you if you can reply to this message and attach the contract.

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Perfect. I received them and will review now and get back to you.

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Thank you for the additional information. The section you read to me is the pertinent one. Unfortunately with any contract, different people can interpret the language in different ways. But my understanding of the language is that you become entitled to the success fee upon the award of the final, non-appealable license or pre-approval to develop, construct and operate the project. The timing of the fee is tied to the latter (or later to happen) of either that pre-approval or third-party financing. As a person interpreting the language, the reason for that provision is to recognized you earn the success fee upon the license but that they may not have the funds to pay it until financing is obtained. Though the language about meeting and conferring to discuss an extension, amendment or replacement of the contract if both pre-approval and financing are not obtained by Feb. 29, 2016 may potentially create some confusion; it is my opinion that the more important part of that portion of the section is that is says the parties shall meet and confer ..., as may be mutually agreeable and necessary, ... Thus, since you continued consulting, since they were awarded the license (which is the thing for which you are being provided the success fee, just waiting for payment upon financing), and since neither you nor the other party determined it was "mutually agreeable or necessary" to meet to possibly change this provision, the contract remains place as is without any amendment or revision. The position you should take, if they do disagree, is that they had the ability per this contract language to request a meeting to confer about a change but they did not so request it and, thus, they clearly did not believe it was necessary. I hope this helps.

If you need further assistance, please reply to this email.

Please note: This information is for educational purposes only and is not legal advice. No course of action is being proposed and no attorney-client relationship or privilege has been formed as a result of this conversation.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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