Common use of Condition of Sale Clause in Contracts

Condition of Sale. This Agreement shall be binding upon the successors and assigns of the parties hereto. In the event of a bonafide sale, transfer or assignment of the EMPLOYER’S facility, or part thereof, covered by this Agreement during the term hereof, the EMPLOYER shall give advance notice to the new owner, transferee or assignee of the obligations of this Agreement, and shall as a condition of sale, transfer, or assignment, require the new owner to become a Party hereto. The EMPLOYER shall be responsible for any and all monetary benefits that EMPLOYEES have accumulated under this Agreement to the date of sale, transfer or assignment. Seniority of EMPLOYEES shall not be broken by such sale, transfer or assignment.

Condition of Sale. This Agreement shall be binding upon the successors and assigns of the parties hereto. In the event of a bonafide sale, transfer or assignment of the EMPLOYER’S facilityEMPLOYER’Sfacility, or part thereof, covered by this Agreement during the term hereof, the EMPLOYER shall give advance notice to the new owner, transferee or assignee of the obligations of this Agreement, and shall as a condition of sale, transfer, or assignment, require the new owner to become a Party hereto. The EMPLOYER shall be responsible for any and all monetary benefits that EMPLOYEES have accumulated under this Agreement to the date of sale, transfer or assignment. Seniority of EMPLOYEES shall not be broken by such sale, transfer or assignment.