Common use of Changes in Ownership Clause in Contracts

Changes in Ownership. This Agreement shall be binding upon each of the individual Employers party hereto, and upon their heirs, successors and assigns, including any successor partnership or corporation. The successor individual Employer, partnership or corporation shall agree to continue in its employ those employees working for the original Employer and it shall be the legal obligation of the original Employer to include such a provision in his contract of sale to the successor Employer, partnership or corporation. In the event that this provision is violated, the Union shall invoke the arbitration clause and the arbitrator shall have the authority to assess damages for any loss of pay by employees against either the original Employer or the successor or both. Any new or additional partners or owners shall immediately sign this Agreement, but such signature shall not be necessary to their liability. Each Employer agrees to promptly notify the Union in writing by registered mail of any change in ownership, or change in partners, and persons who were partners or owners at the time this contract is executed shall remain individually responsible and liable for the observance of the terms and conditions of this Agreement until such notice is given and the new partners or owners become signatory hereto. No Employer shall hold an interest in, be affiliated with or operate in conjunction with any person, firm or corporation which is engaged in any work covered by the terms of this Agreement and is not a signatory to this Agreement with respect to work performed in the geographical area covered by this Agreement. The Employer shall give prompt notice in the event any partner or individual assumes any interest or performs any executive or supervisory functions in the firm of the Employer who also maintains an interest in, works for or contracts to have work performed by a firm engaged in plumbing, pipefitting or HVAC/Refrigeration work covered by this Agreement that is not a signatory to this Agreement. In the event, at the time of execution of this Agreement, the Employer maintains an interest in two firms, the Employer warrants that, to the fullest extent permitted by law, this Agreement shall be applicable to any firm, corporation or enterprise engaged in plumbing, pipefitting and HVAC/Refrigeration work with which he or his firm is affiliated, directly or indirectly. The Employer shall be liable for any breach of this Agreement by any other firm engaged in plumbing, pipefitting or HVAC/Refrigeration work, as above set forth. Where a signatory to an Agreement is also an owner, partner, holds a financial interest in or occupies a managerial or supervisory position in any other firm engaged in any work covered by this Agreement, the execution of this Agreement shall be deemed to be applicable to any work covered by this Agreement performed by such other firm to the fullest extent permitted by law and the execution of this Agreement shall render the signatory personally liable for any violation of this Agreement by such other firm or enterprise.

Changes in Ownership. This Agreement shall be binding upon each of the individual Employers party hereto, and upon their heirs, successors and assigns, including any successor partnership or corporation. The successor individual Employer, partnership or corporation shall agree to continue in its employ those employees working for the original Employer and it shall be the legal obligation of the original Employer to include such a provision in his contract of sale to the successor Employer, partnership or corporation. In the event that this provision is violated, the Union shall invoke the arbitration clause and the arbitrator shall have the authority to assess damages for any loss of pay by employees against either the original Employer or the successor or both. Any new or additional partners or owners shall immediately sign this Agreement, but such signature shall not be necessary to their liability. Each Employer agrees to promptly notify the Union in writing by registered mail of any change in ownership, or change in partners, and persons who were partners or owners at the time this contract is executed shall remain individually responsible and liable for the observance of the terms and conditions of this Agreement until such notice is given and the new partners or owners become signatory hereto. No Employer shall hold an interest in, be affiliated affiliated with or operate in conjunction with any person, firm firm or corporation which is engaged in any work covered by the terms of this Agreement and is not a signatory to this Agreement with respect to work performed in the geographical area covered by this Agreement. The Employer shall give prompt notice in the event any partner or individual assumes any interest or performs any executive or supervisory functions in the firm firm of the Employer who also maintains an interest in, works for or contracts to have work performed by a firm firm engaged in plumbing, pipefitting pipefitting or HVAC/Refrigeration work covered by this Agreement that is not a signatory to this Agreement. In the event, at the time of execution of this Agreement, the Employer maintains an interest in two firmsfirms, the Employer warrants that, to the fullest extent permitted by law, this Agreement shall be applicable to any firmfirm, corporation or enterprise engaged in plumbing, pipefitting pipefitting and HVAC/Refrigeration work with which he or his firm firm is affiliatedaffiliated, directly or indirectly. The Employer shall be liable for any breach of this Agreement by any other firm firm engaged in plumbing, pipefitting pipefitting or HVAC/Refrigeration work, as above set forth. Where a signatory to an Agreement is also an owner, partner, holds a financial financial interest in or occupies a managerial or supervisory position in any other firm firm engaged in any work covered by this Agreement, the execution of this Agreement shall be deemed to be applicable to any work covered by this Agreement performed by such other firm firm to the fullest extent permitted by law and the execution of this Agreement shall render the signatory personally liable for any violation of this Agreement by such other firm firm or enterprise.