Merger with Another Xxxxxxx Xxxxxxxxxx Affiliate. The employer will notify the Union and the Labor Management Committee within seven (7) days following the signing of a memorandum of agreement or similar document with any affiliate of PPFA which memorializes a decision to take steps toward merging or otherwise consolidating its operations with another affiliate, such as conduct of due diligence or negotiation of the terms of a definitive agreement. It is understood that until the contemplated merger or consolidation is made public by the Employer, information concerning merger discussions including the notice, the memorandum of agreement, and other shared information is internal and subject to the limitations on use and distribution described in Article 8.1. The notice will identify the affiliate(s) involved and will report on the nature of the consolidation under discussion. The Labor-Management Committee will be kept informed on a timely basis of all developments in these discussions. The Labor-Management Committee will discuss the implications of a merger or consolidation on terms and conditions of employment so that these may be taken forward in merger or consolidation discussions. Additional rights and responsibilities of the parties relating to a merger or other consolidation of operations will be governed by law.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
