Common use of HOLDOVER PROVISION Clause in Contracts

HOLDOVER PROVISION. 1. In the event that the Board and the Association shall fail to secure a Successor Agreement, as hereinbefore provided, prior to the termination of this Master Agreement, the terms and conditions of this Agreement shall remain in force and effect until the Successor Agreement is reached, however, such extended period shall not be for any longer period than shall be allowed by applicable statutes or court ruling.