Parallel Agreement Clause Samples

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Parallel Agreement. The Parties have agreed that they will participate in partnership in developing changes and modifications to the way work is performed to exhibit a number of characteristics that are not often found in traditional workplaces that provide desirable advantages for the business and its employees. These characteristics include: • A shared commitment to continuous improvement in quality, efficiency, skill development and the work environment. • The need to respond rapidly to changes in the market place, in products, and in customer needs. • The ability to structure the workplace to provide business flexibility and utilize the applied and developed skills of individuals. • Individual and group responsibility for performance, job design, and training. • An open environment that shares knowledge and information. • Team problem solving. • Pay systems that recognize individual education, skill and experience, and reward business and individual performance. These changes will be developed through the guidance and approval of the Parallel Agreement Committee, which will meet on a quarterly basis or more frequently if required. Typical agenda items that will be reviewed at each quarterly meeting are as follows: • Business updates. • Technology change. • Potential increasing or decreasing forces. • Other issues/actions. It is understood that this committee shall have the authority to recommend amendments to the provisions of the Agreement to the extent necessary to reflect their collective decisions. This committee is the Union Bargaining Committee, a manager from each Seniority Department, and Human Resources. Decisions will be by consensus. The proposed amendments agreed to by Parties will be formalized in writing and taken to their respective principals for ratification.
Parallel Agreement. Debiotech and Animas enter into a parallel License, Joint Development and Manufacturing Assistance Agreement in connection with an externally worn micro-pump for the delivery of insulin.
Parallel Agreement. Simultaneously with the execution of this Agreement, Debiotech and Animas shall enter into a parallel License, Joint Development and Manufacturing Assistance Agreement in connection with a micro-needle product of Debiotech.
Parallel Agreement. Seller (or an affiliate thereof) and Buyer have entered into a separate Purchase and Sale Agreement as of the Effective Date (the “Parallel Agreement”) relating to the sale of Bella Terra at City Center, ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇, Aurora, CO 80013. Notwithstanding anything to the contrary contained in this Agreement, the Buyer shall have no right to purchase, and the Seller shall be under no obligation to sell, the Property unless the transactions contemplated by the Parallel Agreement are consummated (the “Parallel Sale”), it being the express intention and agreement between Buyer and Seller that, as an inducement to Seller and Buyer to enter into this Agreement, Buyer and Seller (or an affiliate thereof) have entered into the Parallel Agreement. If Buyer terminates the Parallel Agreement under Section 3.5 of the Parallel Agreement, this Agreement shall automatically terminate (other than the provisions that expressly survive termination) and the Deposit, less the Independent Consideration, shall be returned to Buyer. Similarly, if Buyer terminates this Agreement under Section 3.5, above, the Parallel Agreement shall automatically terminate (other than the provisions that expressly survive termination) and the Deposit, less the Independent Consideration, shall be returned to Buyer under the Parallel Agreement. Notwithstanding the foregoing, if the Parallel Agreement is consummated and Buyer or Seller thereafter fail to close the transaction that is the subject of this Agreement, the parties shall be entitled to their rights and remedies under this Agreement but the Parallel Sale shall not be subject to rescission or otherwise to legal action, whether or law or in equity, arising solely from the failure to close under this Agreement.
Parallel Agreement. The Commission shall exercise the right to vote for the Community within the bodies set up under the Agreement.
Parallel Agreement. VerticalNet agrees that during the term of this Agreement, it shall not enter into an agreement with Futurestep, Inc. to provide promotional opportunities to Futurestep throughout all of the VerticalNet Online Communities, nor enter into any agreement with Futurestep, Inc. for the joint marketing of each other's Sites or services.