Limited Xxxxx Xxxxx and Indiana State Prevailing Wage Law Reopener Sample Clauses

Limited Xxxxx Xxxxx and Indiana State Prevailing Wage Law Reopener. This agreement may be re-opened to negotiate adjustments in economics, if and when Federal Xxxxx Bacon Law or the Indiana State Prevailing Wage Law is repealed or modified to the extent that it would be a detriment to signatory contractors in being competitive on Highway, Bridge, Utility and Railroad projects. It is agreed that prior to re- opening the agreement either Party may request, in writing, a joint meeting between the “Employers” and the “Union”. This meeting shall take place within seven (7) days. After seven (7) days if no agreement has been agreed upon, then anytime thereafter a five (5) day advanced written notice may be given of desire to re-open the contract by either party. The parties shall have sixty (60) days from that date of the notice to re-open the agreement, due to the repeal or modification of the Federal Xxxxx Xxxxx Law or Indiana State Prevailing Wage law, to reach an agreement. If at the end of the sixty (60) day period no agreement has been agreed upon the contract shall expire on the next anniversary date. Each party shall have reserved to itself its’ full economic and legal options, including but not limited to strike or lockout. PARTY OF THE FIRST PART – “EMPLOYERS”
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