New Agreement Clause Samples
The "New Agreement" clause establishes the terms under which parties may enter into a new contract or agreement, either replacing or supplementing an existing one. Typically, this clause outlines the circumstances that trigger the creation of a new agreement, such as the expiration of the current contract or significant changes in business needs, and may specify the process for negotiating and executing the new terms. Its core function is to provide a clear framework for transitioning to updated contractual arrangements, thereby reducing uncertainty and ensuring continuity in the business relationship.
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New Agreement. 1. The parties agree to enter into collective negotiations concerning a successor agreement to become effective on or after July 1, 2019 subject to the provisions set forth in Article XLIII, Duration and Termination.
2. Such collective negotiations shall commence no later than October 1, 2018, unless an alternative date is mutually agreed upon, and shall be concluded by February 1, 2019, if possible.
New Agreement. (a) If this Agreement terminates because of Northern or NIW II's default, if the rights granted in this Agreement are foreclosed, or if this Agreement is rejected or disaffirmed pursuant to bankruptcy law or other law affecting creditor's rights and, within ninety (90) days after such event, Northern, NIW II or any Mortgagee or Assignee shall have arranged to the reasonable satisfaction of the non-defaulting party for the payment of all fees or other charges due and payable by Northern or NIW II as of the date of such event, then such non-defaulting party shall execute and deliver to Northern, NIW II or such Mortgagee or Assignee or to a designee of one of these parties, as the case may be, a new agreement affecting the Substation Property which (i) shall be for a term equal to the remainder of the Term before giving effect to such rejection or termination; (ii) shall contain the same covenants, agreements, terms, provisions and limitations as this Agreement (except for any requirements that have been fulfilled by Northern, NIW II or any Mortgagee or Assignee prior to rejection or termination of this Agreement); and, (iii) shall include that portion of the Wind Farm Assets in which Northern, NIW II or such other Mortgagee or Assignee had an interest on the date of rejection or termination.
(b) After the termination, rejection or disaffirmation of this Agreement and during the period thereafter during which any Mortgagee shall be entitled to enter into a new agreement affecting the Substation Property, the non-defaulting party will not terminate the rights of any Assignee unless in default under its Assignment.
(c) If more than one Mortgagee makes a written request for a new agreement pursuant to this provision, the new agreement shall be delivered to the Mortgagee requesting such new agreement whose Mortgage is prior in lien, and the written request of any other Mortgagee whose lien is subordinate shall be void and of no further force or effect.
(d) The provisions of this Section 12 shall survive the termination, rejection or disaffirmation of this Agreement and shall continue in full force and effect thereafter to the same extent as if this Section 12 were a separate and independent contract made by Northern, NIW Il and each Mortgagee, and, from the effective date of such termination, rejection or disaffirmation of this Agreement to the date of execution and delivery of such new agreement, such Mortgagee may use and enjoy the Substation Property without h...
New Agreement. (a) Either party to this Agreement may, not more than four (4) months prior to the 23rd day of March, 2023, or any subsequent anniversary of that date, present to the other party, in writing, notice of intent to commence collective bargaining for the purpose of renewing or revising the Agreement or entering into a new Agreement.
(b) During the period of negotiations for a new Agreement, the provisions of Section 50(b) of the Canada Labour Code shall be in effect.
New Agreement. If Section 10.2 applies in relation to the Agent, the Authority and Project Co will, upon request by the new Agent, enter into a new lenders’ remedies agreement with the new Agent on substantially the same terms as this Agreement.
New Agreement. Unless otherwise specified by the Company in writing, the termination of this Agreement by the Company in connection with the offer by the Company to Dealer (or Dealer’s successor in interest) of a new agreement for one or more PRODUCTS shall not give rise to the rights and obligations provided in Paragraphs 24 and 25 with respect to the PRODUCTS covered by the new agreement.
New Agreement. REQUIRED (a) If there is a change of ownership of a BC as specified in Article 8.2(b), then the new owner, in order to be a TRICARE authorized BC, must enter into a new agreement with DHA except as provided in Article 8.2(c). The new owner is subject to any existing plan of correction, expiration date, applicable health and safety standards, ownership and financial interest disclosure requirements and any other provisions and requirements of this agreement.
New Agreement. Provided that, in accordance with Section 1(b) hereof, the Executive has timely notified the CEO of the Executive’s desire to extend the Executive’s employment, the Company will consider whether to offer the Executive an extension under this Agreement or a new Employment Agreement. If the Company decides in its sole and absolute discretion to offer the Executive an extension or a new Employment Agreement, the Company will notify the Executive accordingly (an "Extension Notice") not less than one hundred eighty (180) days prior to the expiration of the Term of Employment. If the Company timely provides an Extension Notice and the Executive and the Company enter into such extension (or a new Employment Agreement), the Initial Term hereof will be extended by such additional period of time set forth in the Extension Notice (each an "Extension"). If the Company timely provides an Extension Notice and offers the Executive an extension or a new Employment Agreement providing at least comparable terms to the Executive’s then current Employment Agreement but the Executive does not agree to enter into such extension or new Employment Agreement, such action shall be deemed to result in Executive’s Voluntary Termination as of the Term of Employment end date unless the Company determines otherwise in its sole and absolute discretion.
New Agreement. If the Lender makes a new agreement with another borrower or person, corporation or entity who is obligated to pay the Adjustable Rate Loan or any part of the Indebtedness, the Borrower will not be released from the Borrower’s obligations under this Contract, even if the Borrower does not sign or is not advised of such new agreement.
New Agreement. 12.1 The Employer will provide the Employee with eight (8) weeks’ notice prior to the end of the Term regarding its intentions to reappoint the Employee to the Position. In the event, that no notice is provided, employment will be deemed to expire at the end of the Term. If the Employee is reappointed to the Position, the Employee will be subject to a new agreement.
New Agreement. REQUIRED (a) If there is a change of ownership of a PHP as specified in Article 9.2(b), then the new owner, in order to be an authorized partial hospital program, must enter into a new agreement with DHA. The new owner is subject to any existing plan of correction, expiration date, applicable health and safety standards, ownership and financial interest disclosure requirements and any other provisions and requirements of this agreement.