Common use of Employee Changes Clause in Contracts

Employee Changes. (i) The Seller shall, by delivery of written notice thereof to the Buyer, promptly update the list of Corporate Employees set forth in Section 1.1(a) of the Seller Disclosure Schedules to remove from such list the name of any person who ceases to be employed by Seller and by any of Affiliates. In the event that any Corporate Employee ceases to be employed by Seller and its Affiliates, the Seller shall use commercially reasonable efforts to fill such position with a person of comparable qualifications, skill and experience reasonably acceptable to Buyer and, upon such replacement, Section 1.1(a) of the Seller Disclosure Schedules shall be updated to include the name of such person. Seller shall not otherwise modify Section 1.1(a) of the Seller Disclosure Schedules without the prior written consent of the Buyer. (ii) The Seller shall, by delivery of written notice thereof to the Buyer, promptly update the list of Represented Employees set forth in Section 1.1(e) of the Seller Disclosure Schedules to (A) remove from such list the name of any person who ceases to be employed by the Company, and (B) add to such list the name of any person hired by the Company who is represented by any labor union that is a to party to any of the then existing Collective Bargaining Agreements. In the event that any Represented Employee ceases to be employed by the Company, the Seller shall cause the Company to use commercially reasonable efforts to fill such position with a person of comparable qualifications, skill and experience reasonably acceptable to Buyer. Seller shall not otherwise modify Section 1.1(e) of the Seller Disclosure Schedules without the prior written consent of the Buyer.

Appears in 1 contract

Sources: Stock Purchase Agreement (Algonquin Power & Utilities Corp.)

Employee Changes. (i) The Seller shall, by delivery of written notice thereof to the Buyer, promptly update the list of Corporate Employees set forth in Section 1.1(a) of the Seller Disclosure Schedules to remove from such list the name of any person who ceases to be employed by Seller and by any of Affiliates. In the event that any Corporate Employee ceases to be employed by Seller and its Affiliates, the Seller shall use commercially reasonable efforts to fill such position with a person of comparable qualifications, skill and experience reasonably acceptable to Buyer and, upon such replacement, Section 1.1(a) of the Seller Disclosure Schedules shall be updated to include the name of such person. Seller shall not otherwise modify Section 1.1(a) of the Seller Disclosure Schedules without the prior written consent of the Buyer. (ii) The Seller shall, by delivery of written notice thereof to the Buyer, promptly update the list of Represented Employees set forth in Section 1.1(e1.1(f) of the Seller Disclosure Schedules to (A) remove from such list the name of any person who ceases to be employed by the Company, and (B) add to such list the name of any person hired by the Company who is represented by any labor union that is a to party to any of the then existing Collective Bargaining Agreements. In the event that any Represented Employee ceases to be employed by the Company, the Seller shall cause the Company to use commercially reasonable efforts to fill such position with a person of comparable qualifications, skill and experience reasonably acceptable to Buyer. Seller shall not otherwise modify Section 1.1(e1.1(f) of the Seller Disclosure Schedules without the prior written consent of the Buyer.

Appears in 1 contract

Sources: Stock Purchase Agreement (Algonquin Power & Utilities Corp.)