IT IS FURTHER UNDERSTOOD AND AGREED Clause Samples
The clause titled "IT IS FURTHER UNDERSTOOD AND AGREED" serves as an introductory phrase to emphasize and formalize additional terms or mutual understandings between the parties within a contract. Typically, it precedes specific provisions or clarifications that supplement the main agreement, ensuring that both parties explicitly acknowledge and consent to these added points. By using this clause, the contract highlights the importance of the subsequent terms, helping to prevent misunderstandings and reinforcing the parties' shared intent regarding particular aspects of their arrangement.
IT IS FURTHER UNDERSTOOD AND AGREED that for the consideration expressed herein the Releasor agrees not to make any claim or take any proceedings against any other person, firm or corporation who might claim contribution or indemnity from the Releasees or any of them. IT IS FURTHER UNDERSTOOD AND AGREED that this Release has been prepared by ▇’▇▇▇▇▇ Law Corporation acting on behalf of the Company only, and that the Releasor has been advised to obtain, and has had full opportunity to obtain, independent legal advice with respect to the subject matter hereof. IT IS FURTHER UNDERSTOOD AND AGREED that the failure of any of the Releasees to insist upon strict compliance with the provisions of this Release shall not be deemed a waiver of such provision or any other provision hereof. If any provision of this Release is determined to be so broad as to be unenforceable, and in the event that any provision is determined to be entirely unenforceable, such provision shall be deemed severable such that all other provisions of this Release shall remain valid and binding upon the Releasor and the Releasees. AND IT IS UNDERSTOOD AND AGREED that the terms of this release are contractual and not mere recitals.
IT IS FURTHER UNDERSTOOD AND AGREED that Samex will withhold and remit income tax. Employee understands and agrees to indemnify and hold harmless Samex from any assessment for income tax and other statutory deductions which may be made under statutory authority, including any repayment amount Employee may owe to Revenue Canada for Employment Insurance. The Employee acknowledges that they have read and fully understand this Mutual Release and have received independent legal advice with respect to their rights. This Mutual Release shall be governed by and construed in accordance with the laws of the Province of British Columbia and the federal laws of Canada applicable therein.
IT IS FURTHER UNDERSTOOD AND AGREED that for the consideration expressed herein the Releasor agrees not to make any claim or take any proceedings against any other person, firm or corporation who might claim contribution or indemnity from the Releasees or any of them. IT IS FURTHER UNDERSTOOD AND AGREED that the failure of any of the Releasees to insist upon strict compliance with the provisions of this Release shall not be deemed a waiver of such provision or any other provision hereof. If any provision of this Release is determined to be so broad as to be unenforceable, and in the event that any provision is determined to be entirely unenforceable, such provision shall be deemed severable such that all other provisions of this Release shall remain valid and binding upon the Releasor and the Releasees. AND IT IS UNDERSTOOD AND AGREED that the terms of this release are contractual and not mere recitals.
IT IS FURTHER UNDERSTOOD AND AGREED. 4.1 The Effective Date of this AGREEMENT shall be the first date upon which all of the following has occurred: (1) CITY and DISTRICT governing bodies have approved AGREEMENT; and (2) the authorized representative of each has signed AGREEMENT. The Term of this AGREEMENT shall be for two (2) years from the Effective Date unless earlier terminated as set forth herein. Paragraphs 4.3 and 4.5 through 4.12 shall survive the termination of this AGREEMENT.
4.2 All payments shall be made via electronic funds transfer (EFT) directly deposited into DISTRICT’s designated checking or other bank account. PARTIES shall promptly comply with directions and accurately complete forms provided to process EFT payments.