Common use of EMERGENCY REOPENING Clause in Contracts

EMERGENCY REOPENING. In the event of national health care insurance, mandatory economic controls (such as a wage or price freeze) or other state or federal legislative or executive action (including without limitation changes in wage and hour laws) which is applicable to employees and/or the Company during the term of this Agreement and which has an unanticipated material impact on the financial structure of the Company or materially alters the cost or level of wages, benefits or job security of employees, either party may reopen the provisions of this Agreement directly affected thereby with a sixty (60) day written notice of intent to renegotiate said provisions. If the parties reach agreement in such reopener negotiations but government approval is required for the revisions to become effective, the Union and Employer will cooperate fully to obtain such approval. In the event the parties are unable to reach agreement in such reopener negotiations within one-hundred- eighty (180) days of the notice, either party shall be permitted all lawful economic recourse to support its position.

EMERGENCY REOPENING. In the event of national health care insurance, mandatory economic controls (such as a wage or price freeze) or other state or federal legislative or executive action (including without limitation changes in wage and hour laws) which is applicable to employees and/or the Company during the term of this Agreement and which has an unanticipated material impact on the financial structure of the Company or materially alters the cost or level of wages, benefits or job security of employees, either party may reopen the provisions of this Agreement directly affected thereby with a sixty (60) day written notice of intent to renegotiate said provisions. If the parties reach agreement in such reopener negotiations but government approval is required for the revisions to become effective, the Union and Employer will cooperate fully to obtain such approval. In the event the parties are unable to reach agreement in such reopener negotiations within one-hundred- hundred-eighty (180) days of the notice, either party shall be permitted all lawful economic recourse to support its position.