Purpose and Effect Clause Samples
The 'Purpose and Effect' clause defines the intended objectives and legal impact of the agreement or a specific section within it. Typically, this clause clarifies what the parties aim to achieve through the contract and outlines how the terms are to be interpreted in light of those objectives. For example, it may state that the agreement is meant to facilitate a particular transaction or relationship, and that its provisions should be construed to fulfill that purpose. The core function of this clause is to provide interpretive guidance, ensuring that the contract is understood and enforced in a manner consistent with the parties' original intentions, thereby reducing ambiguity and potential disputes.
Purpose and Effect. 1.1 The purpose of this MoU is to provide a framework within which DNP and the Friends can work collaboratively to perform the functions of DNP and carry out the objects of the Friends.
1.2 Nothing in this MoU is intended to give rise to legally enforceable rights or obligations between the Parties.
Purpose and Effect. The purpose of this Agreement is to provide Termination Benefits, as defined in Section 9 hereof, in the event of a Termination or Change in Control as provided in Section7(a).
Purpose and Effect. This Supplement 13, effective as of May 13, 1991, is intended to comply with the requirements of the applicable provisions of the tax code of Puerto Rico, currently Section 1165(a) and (e) of the Puerto Rico Internal Revenue Code of 1994 (the “PRIRC”). The provisions of this Supplement 13 shall only apply to any resident of the Commonwealth of Puerto Rico (“Supplement 13 Participant”) who is employed by an Employer.
Purpose and Effect. The parties hereto enter into this Agreement for the purpose of formalizing the parties’ agreement to promote and protect the public safety and welfare by authorizing Lansing to provide fire protection services within the boundaries of fire District No. 1 and provide for the use, operation, care and maintenance of any fire apparatus or equipment, if any, belonging to the Fire District.
Purpose and Effect. The purpose of this Amendment No. 1 is (i) to revise the provision concerning Closing of this subscription to be contingent upon the closing of the voluntary share exchange transaction described in the amended Section 1.2 and (ii) to provide the Subscriber with further written disclosure materials upon which to base his or her investment decision. [this space intentionally left blank] INDIVIDUAL INVESTOR SIGNATURE PAGE
Purpose and Effect. This Agreement authorizes Customer and its authorized converters (“Converters”) to purchase the 3M Components set forth in Schedule 1 at the prices shown as Contract Price in Schedule 1, meeting the specifications set forth in Schedule 2, and such other materials as the parties may agree in writing to add in the future, (“Components”). Customer agrees to use Components solely for its use or use by Converters in the manufacture of nasal dilators and other products as described in paragraph 5 of this Agreement. This Agreement does not establish Customer or its Converters as a dealer or distributor of the Components. Customer shall direct its Converters not to resell any Components to any third party for resale. In the event a Converter is in breach of Medical Specialties Terms and Conditions of Sale or any other contractual obligations Converter may have to 3M, 3M reserves the right not to supply Components to such Converter. Customer acknowledges and agrees that it has sole responsibility for testing and evaluating the safety and suitability of use of Components in the product(s) for which Customer or Converters are purchasing Components.
Purpose and Effect. The purpose of this Section 18 is to comply with the requirements of Section 416 of the Code. The provisions of this Section 18 are effective for each Plan Year beginning on or after the Effective Date in which the Plan is a “Top-Heavy Plan” within the meaning of Section 416(g) of the Code.
Purpose and Effect. This Agreement is entered into by the parties solely in recognition of the mutual benefits and, to the extent appropriate, the detriments resulting from filing U.S. federal (or foreign, state or other local) consolidated, combined, unitary or similar tax returns. The respective amounts of tax liability allocated to Seagram, the Company or their respective subsidiaries for purposes of computing such entities' earnings and profits for U.S. federal (or foreign, state or other local) income tax purposes may differ from those determined in accordance with this Agreement. Furthermore, any amount treated for U.S. federal (or foreign, state or other local) income tax purposes, on account of such a difference, as a contribution to capital or a distribution with respect to stock, or a combination thereof, as the case may be, shall be treated as a contribution to capital, a distribution with respect to stock, or a combination thereof, for U.S. federal income tax purposes or to the extent required by laws of foreign, state or other local jurisdictions.
Purpose and Effect. (a) This Addendum supplements and modifies the implementation agreement and any applicable end user license agreement (collectively the “Implementation Agreement”) between Archuleta County, Colorado (the “County”) and the software provider (the “Provider”) named on the Implementation Agreement governing the use of software being purchased, leased or otherwise procured by the County (the “Software”). The Provider’s acknowledgment, acceptance of payment, or delivery or provision of the Software shall constitute the Provider’s unqualified acceptance of this Addendum. This Addendum is provided in recognition of the County’s legal and other restrictions as a governmental entity. Any conflict between this Addendum and the Implementation Agreement shall be resolved in favor of this Addendum.
(b) This Addendum will continue to apply to any future modifications of the Implementation Agreement if such modifications are permitted by the Implementation Agreement.
(c) The County’s issuance of a purchase order referencing the Implementation Agreement or authorized signature on the Implementation Agreement constitutes the County’s acceptance of the Implementation Agreement subject to this Addendum. Any required acceptance of the Implementation Agreement by a County employee, whether by signature or electronic acceptance shall only be effective as a ratification of the County’s acceptance of the Implementation Agreement subject to this Addendum.
Purpose and Effect. The purpose of this Amendment No. 1 is to -------------------- revise the provision concerning the grant of the Additional Options to allow for the grant of the stock options from the Parent through one or more separate stock option agreements.