Renewal or Termination. Upon any change in ownership, the Board will have complete and absolute discretion to determine whether to renew or terminate membership in the Fund with respect to any such Employer and/or successor owner(s). Employer and/or any successor owner(s) are required to complete new Participation Application(s) prior to any such determination by the Board. Any such renewal may, in the Board's discretion, be expressly conditioned upon assumption of any and all obligations, liabilities, outstanding contribution balances, additional contributions or assessments and any other obligations of Employer with respect to the Fund which accrue prior to the change in ownership.
Appears in 4 contracts
Samples: Participation Agreement, Participation Agreement, Participation Agreement
