PURPOSE AND INTENT OF PARTIES Sample Clauses

PURPOSE AND INTENT OF PARTIES. Section 1.
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PURPOSE AND INTENT OF PARTIES. Section 1. It is the desire of the parties hereto to set forth herein the agreement between them for the term hereof in respect to rates of pay, wages, hours of employment and other conditions of employment to be observed by the parties hereto and the employees covered hereby, and to provide procedure for the prompt and equitable adjustment of grievances arising hereunder to the end that there shall be no interruptions or impeding of work, work stoppages, slowdowns, strikes, lockouts or other interference with production and maintenance of the Company’s Research Department during the term hereof. The parties recognize that for their joint benefit, increase in wages and benefits should be consistent with the long term prosperity and efficiency of the steel industry. The parties are concerned that the future for the industry in terms of employment security and return on substantial capital expenditures will rest heavily upon the ability of the parties to work cooperatively to achieve significantly higher productivity trends than have occurred in the recent past. The parties are acutely aware of the impact upon the industry and its employees of the sizeable penetration of the domestic steel market by foreign producers. The parties have joined their efforts in seeking relief from the problem of massive importation of foreign steel manufactured in low-wage countries. Thus, it is incumbent upon the parties to work cooperatively to meet the challenge posed by principle foreign competitors in recent years. It is also important that the parties cooperate in promoting the use of American-made steel.
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PURPOSE AND INTENT OF PARTIES. In the event of a dispute between the ----------------------------- Stockholders, each Stockholder agrees that to the extent any such dispute shall not be resolved by voluntary agreement of the parties, such dispute shall be finally settled by arbitration in accordance with the provisions set forth below and that any such circumstance shall not constitute a grounds for termination of this Agreement or the withholding of performance under this Agreement. There shall be no resort to the courts by the parties in connection with such matters except to specifically enforce this covenant to arbitrate or to enforce the outcome of an arbitration. This Article shall not apply, however, in the event of any litigation or proceeding commenced by a third party against a party in which the other party is an indispensable party or potential third party defendant. The parties desire to provide for nonjudicial settlement of any claims of breach of this Agreement. In furtherance of the purpose and objectives of the parties, the parties shall settle all claims under this Agreement by means of the alternative dispute resolution procedure described herein so that the operation and maintenance of the Company as contemplated by this Agreement shall not be jeopardized.
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Related to PURPOSE AND INTENT OF PARTIES

  • Purpose and Intent The general purpose of the Agreement is to set forth terms of conditions of employment, and to promote orderly and peaceful labor relations for the mutual interest of the Employer, the employees and the Union. The parties recognize that the interest of the community and the job security of the employees depends upon the Employer’s success in establishing a proper service to the community. To these ends the Employer and the Union encourage to the fullest degree friendly and cooperative relations between the respective representatives at all levels and among all employees. RECOGNITION

  • Intent of Parties The parties intend that each of REMIC I, REMIC II and REMIC III shall be treated as a REMIC for federal income tax purposes and that the provisions of this Agreement should be construed in furtherance of this intent.

  • Agreement of Parties The Seller and the Purchaser each agree to execute and deliver such instruments and take such actions as either of the others may, from time to time, reasonably request in order to effectuate the purpose and to carry out the terms of this Agreement and the Pooling and Servicing Agreement.

  • Agreement and Declaration of Trust These By-Laws shall be subject to the Agreement and Declaration of Trust, as from time to time in effect (the "Declaration of Trust"), of the above-captioned Massachusetts business trust established by the Declaration of Trust (the "Trust").

  • Complete Agreement; Modification of Agreement This Agreement constitutes the complete agreement among the parties hereto with respect to the subject matter hereof, supersedes all prior agreements and understandings relating to the subject matter hereof, and may not be modified, altered or amended except as set forth in Section 8.6.

  • Merger and Integration Except as specifically stated otherwise herein, this Agreement sets forth the entire understanding of the parties relating to the subject matter hereof, and all prior understandings, written or oral, are superseded by this Agreement. This Agreement may not be modified, amended, waived or supplemented except as provided herein.

  • Governing Law; Binding Effect; Amendment and Termination (a) This Agreement shall be interpreted and enforced in accordance with the laws of the State of Delaware.

  • Amendment and Termination of Agreement (a) We may amend any provision of this Agreement by giving you written notice of the amendment. Either party to this Agreement may terminate the Agreement without cause by giving the other party at least thirty (30) days' written notice of its intention to terminate. This Agreement will terminate automatically in the event of its assignment (as defined in the 1940 Act).

  • AGREEMENT AND PLAN OF MERGER THIS AGREEMENT AND PLAN OF MERGER (the "Agreement") is made and entered into as of May 15, 1997, by and between XXXXX BANKCORP, INC. ("TARGET"), a corporation organized and existing under the laws of the State of Georgia, with its principal office located in Ocilla, Georgia, and ABC BANCORP ("PURCHASER"), a corporation organized and existing under the laws of the State of Georgia, with its principal office located in Moultrie, Georgia. PREAMBLE -------- Certain terms used in this Agreement are defined in Section 10.1 hereof. The Boards of Directors of TARGET and PURCHASER are of the opinion that the transactions described herein are in the best interests of TARGET and PURCHASER and their respective shareholders. This Agreement provides for the combination of TARGET with PURCHASER pursuant to the merger of TARGET with and into PURCHASER, as a result of which the outstanding shares of the capital stock of TARGET shall be converted into the right to receive shares of common stock of PURCHASER (except as provided herein), and the shareholders of TARGET shall become shareholders of PURCHASER (except as provided herein). The transactions described in this Agreement are subject to the approvals of the shareholders of TARGET, the Board of Governors of the Federal Reserve System, the Georgia Department of Banking and Finance and the satisfaction of certain other conditions described in this Agreement. It is the intention of the parties to this Agreement that the Merger for federal income tax purposes shall qualify as a "reorganization" within the meaning of Section 368(a) of the Internal Revenue Code. Simultaneous with the Closing of the Merger, The Bank of Ocilla, a wholly- owned Georgia state bank subsidiary of TARGET, will be merged with and into The Citizens Bank of Tifton ("Citizens Bank"), a wholly-owned Georgia state bank subsidiary of PURCHASER, and will thereafter be operated as a branch of Citizens Bank.

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