Common use of DURATION AND AMENDMENT OF AGREEMENT Clause in Contracts

DURATION AND AMENDMENT OF AGREEMENT. 26.01 This Agreement and the Supplementary Letter thereto dated 2008 March 26 and 2004 March 06 which forms part of the agreement, when signed by the parties hereto, shall become effective on date of ratification 2009 August 25, except as otherwise specified herein, and shall remain in full force and effect until 2008 March 31 and from year to year thereafter, unless amended or terminated in the manner herein provided. 26.02 Duration – Agreements/Understanding – By mutual agreement of the parties, this Agreement can be amended at any time, subject to any required ratification process. The parties agree that any mutual agreements or understandings which are reached during the term of this agreement shall be reduced in writing. 26.03 If either the Company or the Union desires to amend or terminate this Agreement, it must notify the other party in writing within the period of three (3) months immediately preceding the date of expiration of the term of this Collective Agreement. The parties will exchange proposals simultaneously at a mutually agreeable date prior to the commencement of negotiations. Until satisfactory conclusion is reached in the matter of proposed amendments, the original provisions shall remain in effect, in accordance with the Canada Labour Code. Successor Rights - This Agreement shall be binding upon not only the parties hereto agreed, but also on any respective successors and assigns.