Possible New Laws Clause Samples
The "Possible New Laws" clause addresses how the parties will handle changes in laws or regulations that may affect the agreement during its term. Typically, this clause outlines the process for reviewing and potentially amending the contract if new legal requirements arise, such as compliance with updated environmental standards or tax laws. Its core function is to provide a mechanism for adapting the agreement to remain lawful and enforceable, thereby reducing uncertainty and risk for both parties in the face of evolving legal landscapes.
Possible New Laws. During the term of this Agreement, federal, state and/or local laws may be passed, or become effective, and require the Company to provide certain medical or other related benefits that may duplicate or compare with benefits provided in this Agreement. In this event, and to the extent these laws do not permit the Company to credit cost and benefits under this Agreement against those required by law, the Company may reduce the benefits to be provided by this Agreement without violating this Agreement to avoid any actual, practical, or otherwise unreasonable duplication or partial redundancy of cost or benefits. Additionally, if any such law or ordinance requires a new expanded benefit or coverage, a lower deductible, or any other requirement that adds cost to existing coverage(s), such additional cost will be shared equally between the Company and each covered Supervisor.
Possible New Laws. During the term of this Agreement, federal and/or state laws may be passed to require the Company to provide certain medical or other related benefits for its employees, benefits which may be duplicative of similar benefits to be provided by this Agreement. In this event, and to the extent these laws do not permit the Company to credit cost and benefits under this Agreement against those required by law, the Company may reduce the benefits to be provided by this Agreement without violating this Agreement to avoid any actual, practical, or otherwise unreasonable duplication of cost or benefits. The Company will meet and share with the Union prior to implementation. Any disputes under this Article will be subject the grievance and arbitration provision under the parties Collective Bargaining Agreement and any final decision render by the Arbitrator.
Possible New Laws. During the term of this Agreement, federal and/or state laws may be passed to require the Company to provide certain medical or other related benefits for its employees, benefits which may be duplicative of similar benefits to be provided by this Agreement. In this event, and to the extent these laws do not permit the Company to credit cost and benefits under this Agreement against those required by law, the Company may reduce the benefits to be provided by this Agreement without violating this Agreement to avoid any actual, practical, or otherwise unreasonable duplication of cost or benefits.