STATUTORY CHANGES Clause Samples
A Statutory Changes clause defines how a contract will adapt if relevant laws or regulations change during the contract term. Typically, this clause allows for adjustments to obligations, pricing, or timelines if new statutes, regulations, or government directives impact the parties’ ability to perform as originally agreed. For example, if a new tax is imposed or a regulatory requirement changes, the contract may permit renegotiation or modification of affected terms. The core function of this clause is to allocate risk and provide a mechanism for addressing unforeseen legal changes, ensuring that neither party is unfairly disadvantaged by shifts in the legal landscape.
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STATUTORY CHANGES. Improvements or reductions in employee benefits which are mandated by an amendment or addition of statutory guarantees now provided by California or federal law shall be incorporated into this Agreement.
STATUTORY CHANGES. All references to sections of the Exchange Act or the Code shall be deemed also to refer to any successor provisions to such sections.
STATUTORY CHANGES. In the event a matter guaranteed by statute and not provided by the contract is modified or dropped, the Board will negotiate that matter at the next scheduled bargaining meeting. Reopening under this section shall be limited to those matters deemed in scope by final decisions of PERB.
STATUTORY CHANGES. All references to sections of the Code shall be deemed also to refer to any successor provisions to such sections.
STATUTORY CHANGES. 21.1 Improvements in Unit Member benefits which are brought about by the amendment or addition of statutory guarantees now provided in California or Federal law shall be incorporated into this Agreement.
21.2 Reduction or elimination of Unit Member benefits which are brought about by the amendment or repeal of statutory guarantees incorporated into this Agreement shall obligate the parties within ten (10) days of such amendment or repeal to negotiate for the purpose of restoring such benefits in this Agreement.
STATUTORY CHANGES. 16.1 Reduction or elimination of teacher benefits which are brought about by the amendment or repeal of statutory guarantees incorporated in this agreement shall obligate the parties within ten (10) days of such amendment or repeal to negotiate for the purpose of restoring such benefits in the agreement.
STATUTORY CHANGES. 1. Mandated modifications, revisions, additions or deletions of contract provisions herein which are brought about by the amendment, addition or deletion of statutory guarantees now provided in California or federal law shall be reflected in this Agreement.
2. Such shall obligate the parties within twenty (20) days of the effective date of the change to negotiate concerning such provisions within this Agreement.
STATUTORY CHANGES.
6.1 Should a law be passed that requires a change in an express term or condition of employment stated in this Agreement, the parties will commence negotiations concerning implementation of such requirement within twenty (20) business days of request by either party.
STATUTORY CHANGES. 34.1 In the event that a statutory change in California law or in Federal law causes a conflict between the law and this Agreement, if both parties mutually agree, the parties shall meet not later than ten (10) days after mutual agreement to renegotiate the affected provisions of the Agreement.
STATUTORY CHANGES. A. It is the intent of the parties that where there is any inconsistency between the terms of this Agreement and any State or Federal statute or regulation, the terms of this Agreement shall control, unless required otherwise by law.