New Venture definition
Examples of New Venture in a sentence
All collateral shall be retained by New Venture Attorneys, P.C., which shall act as the escrow agent for the collateral for the benefit of the Lender.
The start of the New Venture shall be deemed to be the date of hire of the first New Venture employee.
Where a new product is produced that encompasses the reconstituting of an earlier product but still fits the definition of a New Venture, it is understood that employees working on the earlier product shall be offered first opportunity at positions within the New Venture.
Two years following that date the New Venture language shall no longer apply and all employees will be covered by all provisions of the collective agreement, with seniority dates as of the date of hire into the New Venture, except where an employee has been transferred and their date and seniority shall be that date held prior to the transfer into the new venture.
In the event that the Company determines not to participate in such New Venture, then the Proposing Party (and/or its Affiliates) shall have the right to enter into the New Venture as described in the Notice of New Venture independently or with such third Persons as it selects; provided that the terms related to such New Venture shall be no more favorable than the terms offered to the Company.