New Party Clause Samples
The "New Party" clause defines the process and conditions under which a new party may be added to an existing agreement. Typically, this clause outlines the requirements for consent from the original parties, the documentation needed for the new party to join, and any obligations the new party must assume. For example, it may require all current parties to approve the addition and for the new party to sign a joinder agreement. The core function of this clause is to provide a clear and orderly mechanism for expanding the contractual relationship, ensuring that all parties are aware of and agree to the inclusion of new participants.
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New Party. A new entity becomes a Party to the Consortium Agreement upon written agreement of the Project Committee and the new entity’s signature of the Consortium Agreement. Such accession shall have effect from the date of signature.
New Party. An entity not identified in Section I.A may, at any time after January 1, 2017, submit a written application to become a Party. If the application demonstrates to the satisfaction of each Party that the applicant will contribute to the effective implementation of this Agreement, the Parties will amend this Agreement to add the entity as a Party.
New Party. 2.1 Where the Authorised Person is satisfied that an Applicant has complied in substance with all of the Accession Requirements, the Parties shall admit the Applicant as an additional party to the DSC Agreement, for which purposes the Authorised Person shall enter into an Accession Agreement with such Applicant.
2.2 Each Party (other than the Authorised Person) hereby authorises the Authorised Person to sign on its behalf and deliver any Accession Agreement pursuant to Clause 2.1, and undertakes not to withdraw, qualify or revoke such authority.
2.3 Upon the execution of an Accession Agreement by the Authorised Person and an Applicant, the Applicant shall become a New Party.
2.4 The Authorised Person will provide to the Gas and Electricity Markets Authority a copy of each Accession Agreement within 28 days after such agreement is made.
New Party. This is a manually processed queue. When the DMV returns a record that is similar, but not the same for an existing party in the system, the associate processing this queue will link or un-link the new record to the existing party record. The business rules that are applied will link a party with a name and address that is similar to the existing party and un-link the party if the name and address is clearly not the same. Records will not age out of this queue if unprocessed.
New Party. The Agent shall promptly notify the Obligors’ Agent and the New Party upon being so satisfied;
New Party. Anything contained herein to the contrary notwithstanding, any purchaser of Stock pursuant to Section 3 who is not a Stockholder shall agree in writing in advance with the parties hereto to be bound by and comply with all applicable provisions of this Agreement other than this Section 3 and shall be deemed to be a Stockholder for all purposes of this Agreement other than this Section 3.
New Party. Find another entity to compensate the Terminated Party for its BVWACS Value, assume the ownership of the Terminated Party’s BVWACS Value, and assume its obligations and rights under the BVWACS Agreement;
New Party. In accordance with Section 4.4 of the BOOS Modelling Programme Agreement (“the Agreement”), the Annual Meeting has decided to invite [insert name of company or institute, company registration number, address] to become a [Member/Associate Member] of the BOOS Modelling Programme. [Insert name of company or institute] has accepted the invitation.
New Party. 2.1.1. The New Party confirms that:
a. it has been given a copy of the NDLFRS Hosting Agreement; and
b. it will be party under the NDLFRS Hosting Agreement as [an NDLFRS Contributor] [and as [the [ACT/NT/QLD/NSW/SA/TAS/VIC/WA] Road Agency]].
New Party. Part 14 provides language on how a new party other than the Town of Qualicum Beach may become a Joint Venturer. Section 14.1 of the AWS Joint Venture Agreement describes how the Town of Qualicum Beach may exercise its option in the future to join the ERWS Agreement. While the Town of Qualicum Beach would not be a signatory to the ERWS Joint Venture Agreement, under the AWS Agreement it would have the option to ‘buy in’ to this infrastructure at a future date. This option is provided in recognition of the rights that Qualicum Beach possesses as a Joint Venture partner on the AWS water licence for Englishman River and joint owner of the Arrowsmith Lake dam and related infrastructure. Schedule ‘A’ provides a detailed description of future capital works. Schedule ‘B’ references the current RDN Bulk Water Service Area Bylaws for Nanoose Bay and French Creek, and Schedule ‘C’ includes the capital cost apportionment percentages of the Joint Venturers. Without the Town of Qualicum Beach participating in the next phase of infrastructure, its share of 13.7% has been split proportionally between the City of Parksville and the RDN resulting in a cost allocation of 74% for Parksville and 26% for the RDN.