Replacement Articles Clause Samples
The Replacement Articles clause establishes the process and conditions under which the existing articles of association of a company may be replaced with new ones. Typically, this clause outlines the required approvals, such as a special resolution by shareholders, and may specify the timing or circumstances under which the replacement can occur. Its core practical function is to provide a clear legal mechanism for updating or overhauling the company's governing documents, ensuring that the articles remain relevant and aligned with the company's evolving needs or regulatory requirements.
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Replacement Articles. In the event any article, section, subsection, sentence, clause, or phrase of this Agreement is held to be invalid or illegal, the parties will bargain a replacement that to the extent legally allowable, serves the same purpose as the severed language. If an agreement on suitable replacement language is not reached within forty-five (45) calendar days of the first meeting, interest arbitration on that issue may be initiated by either party.
Replacement Articles. The Employer shall provide replacement articles as necessary for damage equipment in the performance of duties. The Employer will not pay for negligent damage to equipment. The employer will replace the Ballistic Proof Vest at the expiration of the manufactures' warranty.