Common use of TERM OF AGREEMENT DURING NEGOTIATIONS Clause in Contracts

TERM OF AGREEMENT DURING NEGOTIATIONS. ‌ In the event the expiration date of this Agreement, or the expiration date of any later yearly period, is reached and a new Agreement has not been agreed on, this Agreement will be temporarily extended until either a new Agreement is agreed on or either of the parties serves a thirty (30) day notice on the other that the negotiations have terminated. After the serving of this written notice, there will be no strike or lockout during the following period of thirty (30) days, and the parties will meet within this period in order to give both parties an opportunity to reconsider their decision and attempt to arrive at a new Agreement.

TERM OF AGREEMENT DURING NEGOTIATIONS. ‌ In the event the expiration date of this Agreement, or the expiration date of any later yearly period, is reached and a new Agreement has not been agreed on, this Agreement will be temporarily extended until either a new Agreement is agreed on or either of the parties serves a thirty ten (3010) day notice on the other that the negotiations have terminated. After the serving of this written notice, there will be no strike or lockout during the following period of thirty ten (3010) days, and the parties will meet within this period in order to give both parties an opportunity to reconsider their decision and attempt to arrive at a new Agreement.