EXPLANATORY STATEMENTS Sample Clauses
The "Explanatory Statements" clause serves to provide additional context or clarification regarding the terms and provisions of an agreement. Typically, this clause outlines the background, intentions, or rationale behind certain contractual terms, helping parties understand the purpose or reasoning for specific obligations or rights. For example, it may summarize the business objectives motivating the contract or clarify the meaning of technical terms used throughout the document. Its core practical function is to ensure that all parties share a common understanding of the contract’s context, thereby reducing the risk of misunderstandings or disputes over interpretation.
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EXPLANATORY STATEMENTS. The Seller is engaged in the business of providing Data Center Services, Configuration Services, and Fulfillment Services (as each such term is defined herein and such terms collectively, the “Business”) at the Premises (as defined herein). The Seller desires to sell, transfer, assign, and convey to the Buyer, and the Buyer desires to purchase, receive, and assume from the Seller, certain assets, rights, and obligations related exclusively to the operation of the Business, it being understood that the Seller operates other lines of business, owns other assets, and is subject to certain liabilities, none of which are the subject of this Agreement.
EXPLANATORY STATEMENTS. The University has fiscal and operational oversight responsibilities to assure that campus auxiliary organizations operate within University and Trustees' policy, and under generally accepted accounting practices and financial standards.
EXPLANATORY STATEMENTS. New job title classifications - The job classification for Communications Technician contains multiple duties and functions. The Company will expect individual employees so classified to perform only those duties and functions for which they are trained and equipped.
EXPLANATORY STATEMENTS. Employer and Employee entered into an Employment Agreement dated as of November 9, 1998 (the "Employment Agreement") whereby the Employer employed the Employee.
EXPLANATORY STATEMENTS. The Parties are all of the parties to that certain Executive Employment Agreement effective as of January 19, 2007, as amended by Amendment No. 1, dated August 26, 2008, further amended by the Amendment to Executive Employment Agreement effective as of February 28, 2010, and further amended by the Amendment to Executive Employment Agreement effective as of January 3, 2012 (collectively, the “Employment Agreement”). The Parties desire to amend certain terms and conditions set forth in the Employment Agreement, all as further described and set forth in this Amendment.
EXPLANATORY STATEMENTS. The Company and ▇▇▇▇▇▇ entered into an Employment Agreement dated as of February 23, 1999, an Amended and Restated Employment Agreement dated as of May 10, 1999, a Second Amended and Restated Employment dated as of August 1, 1999, a Third Amended and Restated Employment Agreement dated as of January 1, 2000 and an Amendment of Employment Agreement dated as of June 30, 2001 (collectively, the "Employment Agreement") whereby the Company agreed to employ ▇▇▇▇▇▇ and ▇▇▇▇▇▇ accepted employment with the Company.
EXPLANATORY STATEMENTS. Maker has issued to Holder that certain Amended and Restated Convertible Promissory Note, dated May 21, 2013, in the original principal amount of One Million Nine Hundred Thousand Dollars ($1,900,000) (the “Note”). The Parties desire to amend certain terms and conditions set forth in the Note, all as further described and set forth in this Amendment.
EXPLANATORY STATEMENTS. The Parties are all of the parties to that certain Executive Employment Agreement effective as of January 19, 2007, as amended by Amendment No. 1, dated August 26, 2008, further amended by the Amendment to Executive Employment Agreement effective as of February 28, 2010, further amended by the Amendment to Executive Employment Agreement effective as of January 3, 2012, further amended by the Amendment to Executive Employment Agreement effective as of March 14, 2012, and further amended by the Amendment to Executive Employment Agreement effective as of May 21, 2013, (collectively, the “Employment Agreement”). The Parties desire to amend certain terms and conditions set forth in the Employment Agreement, all as further described and set forth in this Amendment.
EXPLANATORY STATEMENTS. Purchaser, Seller and the Shareholders entered into an Asset Purchase Agreement dated as of December 21, 2005 (the “Original Agreement”) pursuant to which Purchaser agreed to purchase, and Seller agreed to sell, all of the assets of the Purchaser (other than to the extent specified in the Agreement), free and clear of all liens, liabilities and encumbrances.
EXPLANATORY STATEMENTS. Employer and Employee entered into an Employment Agreement dated as of April 20, 1996 (the "Employment Agreement") whereby the Employer employed the Employee.