Common use of Transfer or Other Disposal of Operations Clause in Contracts

Transfer or Other Disposal of Operations. This Agreement shall be binding upon the Parties hereto, their successors, administrators, executors, and assignees. In the event the entire operation of the Employer, or any part thereof, is sold, merged, leased, transferred, or taken over by sale, merger, transfer, lease assignment, receivership, or bankruptcy proceeding, or another company under the control of the Employer, limited or otherwise, is set up to perform any of the functions previously performed by any of the Employees covered herein or any of the functions falling within the scope of bargaining unit work, such operation shall continue to be subject to the terms and conditions of this Agreement for the life of this Agreement.