Involuntary Transfers Sample Clauses
The Involuntary Transfers clause defines what happens if a party’s interest in an agreement is transferred without their voluntary action, such as through bankruptcy, death, or court order. Typically, this clause outlines the procedures that must be followed in such cases, such as requiring the transferee to meet certain qualifications or giving the other party a right of first refusal to purchase the interest. Its core function is to maintain control over who becomes a party to the agreement, thereby protecting the original parties from unwanted or unsuitable new participants.
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Involuntary Transfers. Any transfer of title or beneficial ownership of Interests or Special Membership Interests, as applicable, upon default, foreclosure, forfeit, divorce, court order or otherwise than by a voluntary decision on the part of a Management Member, Outside Investor Member or Other Investor Member (each, an "Involuntary Transfer") shall be void unless such Management Member, Outside Investor Member or Other Investor Member complies with this Section 13.6 and enables the Company to exercise in full its rights hereunder. Upon any Involuntary Transfer, the Company shall have the right to purchase such Interests or Special Membership Interests, as applicable, pursuant to this Section 13.6 and the person or entity to whom such Interests or Special Membership Interests, as applicable, have been Transferred (the "Involuntary Transferee") shall have the obligation to sell such Interests or Special Membership Interests, as applicable, in accordance with this Section 13.6. Upon the Involuntary Transfer of any Interest or Special Membership Interests, as applicable, such Management Member, Outside Investor Member or Other Investor Member shall promptly (but in no event later than two days after such Involuntary Transfer) furnish written notice to the Company indicating that the Involuntary Transfer has occurred, specifying the name of the Involuntary Transferee, giving a detailed description of the circumstances giving rise to, and stating the legal basis for, the Involuntary Transfer. Upon the receipt of the notice described in the preceding sentence, and for 60 days thereafter, the Company shall have the right to purchase, and the Involuntary Transferee shall have the obligation to sell, all (but not less than all) of the Interests and Special Membership Interests acquired by the Involuntary Transferee for a purchase price equal to the lesser of (i) the Fair Market Value of such Interests or Special Membership Interests, as applicable, and (ii) the amount of the indebtedness or other liability that gave rise to the Involuntary Transfer plus the excess, if any, of the Carrying Value of such Interests or Special Membership Interests, as applicable, over the amount of such indebtedness or other liability that gave rise to the Involuntary Transfer. For purposes of this Agreement, "Carrying Value", with respect to any outstanding Special Membership Interest, means the value equal to the Special Membership Interest Funds advanced by the applicable selling Management Member, Outs...
Involuntary Transfers. (1) When it becomes apparent that a transfer from a building must take place, the principal (or other equivalent supervisor) will talk to all members of the staff in the building who are in the grade levels or subject field from which it is necessary to transfer someone. If one of these teachers states a willingness to be transferred, that person will be chosen for the transfer. Such a transfer will be considered to be an involuntary transfer.
(2) Notice of the necessity for transfers will be given to teachers as soon as practical and, under normal circumstances, not later than the end of the semester preceding the effective date of transfer.
(3) In making involuntary transfers, the convenience and wishes of the individual teacher will be honored to the extent possible, as long as these considerations do not conflict with the best interests of the school system as a whole. If no teacher who is certified for the open position volunteers, the teacher in the building with the least service in the District, who is certified for the open position, has taught in the same grade grouping (K-3 or 4-5) or contiguous grade level (elementary) or in the subject area (secondary) in the last five years, will be transferred.
(4) An involuntary transfer for which no teacher volunteers will be made only after a meeting between the teacher involved and the superintendent or his designee at which time the teacher will be notified of the reasons for the decision on the transfer. In the event that a teacher objects to the transfer at this meeting, upon the request of the teacher, the Association will be notified and the superintendent or designee will meet with the Association's representatives to discuss the transfer. Disputes under Article XVII, B. 2. b. (4), will be subject to the grievance procedure, but the decision of the Board, unless arbitrary, capricious, or without basis in fact, will be final.
(5) Postings for open positions in the District will be made available to all teachers being involuntarily transferred. Preference will be given in filling such positions on the basis of certification majors, teaching experience, demonstrable programs needs and length of service in the District. Disputes under Article XVII, B. 2. b. (5), will be subject to the grievance procedure, but the decision of the Board, unless arbitrary, capricious, or without basis in fact, will be final. When the transfer has been made, the transferred teacher will be assigned to classes on an equal b...
Involuntary Transfers. Any involuntary transfer shall occur in accordance with the following provisions.
1) An involuntary transfer may be made only to a position of the same or lower salary classification except that, by mutual agreement of an administrator and the Superintendent, an administrator who did not request consideration for transfer to a vacancy posted pursuant to Section 1 may be involuntarily transferred to a position of a higher classification.
2) It is recognized that frequent involuntary transfers without a specified purpose will be avoided.
3) Any involuntary transfer being considered by the Superintendent will be reviewed with the administrator who is being considered for the involuntary transfer and with the Association president prior to the Superintendent’s final decision. Such review will include the reasons for the potential transfer including whether the Superintendent has concern(s) pertaining to the performance of the administrator who is being considered for the involuntary transfer. Further, the administrator who is being considered for the involuntary transfer and Association president will be provided an opportunity to be heard by the superintendent regarding any involuntary transfer he/she is considering.
4) An administrator who is or was involuntarily transferred to a position that is compensated at a lower annual salary shall be paid as follows in option “a” or option “b” if the involuntary transfer pertained to performance concern(s) as referenced above in “3)”. In such case, the administrator who has been involuntarily transferred will have the opportunity to select the preferred pay option prior to the first workday in the new position. If no such selection has been made prior to that date, the administrator will be paid as provided for in “b”.
a. Through the end of the school year following the school year in which said involuntary transfer occurs or until he/she is no longer in an Association position, whichever comes first, such involuntarily transferred administrator will receive the higher annual compensation associated with the position held prior to the involuntary transfer with such compensation being that which is specified in the prevailing Master Agreement. For such higher compensation the administrator will work the number of days worked in the position held prior to the involuntary transfer or the number of days worked in the position involuntarily transferred into as specified in the prevailing Master Agreement, whichever is gre...
Involuntary Transfers. 19841 Provides relocation expenses for involuntary transfer or promotion requiring a change in residence. 19994.1 Authorizes involuntary transfers. Requires 60-day prior written notice when transfer requires change in residence. 19994.2 Allows seniority to be considered when two or more employees are in a class affected by involuntary transfers which require a change in residence.
Involuntary Transfers. An involuntary transfer may be made after the Voluntary Transfer provisions in Section 1. above do not result in filling the posted vacancy; or when management determines that it is in the best interest of all Parties involved to involuntarily transfer an employee. Management will conduct a meeting between the employee involved and the principal or department head, and a Union representative if requested by the employee. During this meeting, the employee shall be provided valid reason(s) for the involuntary transfer and such reason(s) shall not be arbitrary or capricious. Such factors as length of service, job competency, and geographic location should be given consideration to the extent that these factors do not, in the opinion of the Superintendent, interfere with the best interest of the District. The employee shall be given a minimum of three (3) workdays notice prior to the involuntary transfer.
Involuntary Transfers a. The District may seek volunteers before involuntarily transferring a unit member to fill a vacancy unless such unit member is being transferred to improve his/her performance pursuant to section 6c of this article.
b. A teacher who is to be involuntarily transferred shall be given the reasons in writing, if requested, for the impending transfer. The teacher to be involuntarily transferred shall have the right to indicate preference from a list of vacancies, if more than one vacancy exists. The Superintendent or designee may honor such preferences.
c. An involuntary transfer may be initiated by the District due to changes in enrollment, school closure and openings, staffing shortages or surpluses within a school and/or department, educational needs, or to improve performance as documented by evaluation(s), or to otherwise meet State and/or Federal requirements, including but not limited to American With Disability Act requirements. In a non-evaluation year, or after a written evaluation has been given in an evaluation year, other substantive documentation may be used to justify an involuntary transfer to improve performance. No unit member shall be involuntarily transferred for arbitrary, capricious or discriminatory reasons.
d. Written notice of an involuntary transfer, and specific reasons when requested by the unit member, shall be given to the unit member during a conference with the originator of said change prior to implementation of the involuntary transfer. A minimum of five (5) days notice shall be provided to the unit member prior to implementation of such transfer.
e. Unit member(s) involuntary transferred may be placed in open positions comparable as possible to the previously held position(s).
f. An involuntary transfer shall not result in the loss of compensation, seniority, or any fringe benefit to a teacher.
g. If a teacher is involuntarily transferred within less than fifteen days notice to a position he/she is not presently prepared to teach, he/she shall be given released time for lesson preparation before the actual transfer takes place up to a maximum of ten (10) working days.
Involuntary Transfers. Any involuntary transfer of teachers shall be governed by any one or all of the following non-prioritized items: • Volunteers • Certification requirements • Academic and professional preparation beyond minimum certification requirements • Length of service in current assignment/building/district/total experience • Balance of experience among staffs • Department or grade level/principal/director recommendation • Overall performance evaluation If the application of the above criteria does not clearly identify the employee(s) for involuntary transfer, then the administration, in the best interests of the school environment, shall review the records contained in the official personnel files to identify the employee(s) for involuntary transfer who best fit the specific needs of the district. Every attempt shall be made by the Superintendent, designee, principal or director to have dialogue with the teacher involved before any involuntary transfer is made. Any teacher transferred after school begins shall receive three working days without students to adequately prepare for the new assignment.
Involuntary Transfers. Should an employee be involuntarily transferred or reassigned on a permanent basis, the Assistant Superintendent-Business and Operations shall meet with the employee and the Union to discuss the reasons for the transfer or reassignment and to consider any unreasonable hardships that may be incurred as a result of the transfer or reassignment prior to its implementation. No loss of pay or hours shall result from any such transfer or reassignment.
Involuntary Transfers. Upon the death, disability, bankruptcy, insolvency, liquidation, or dissolution of a Member, the rights and obligations of that Member under this Agreement shall inure to the benefit of, and shall be binding upon, that Member’s successor(s), estate, or legal representative, and each such Person shall be treated as an Assignee until and unless such Person is admitted as a Member pursuant to the Agreement. Upon the death or incapacity of an individual Member or holder of an Assignee interest, the personal representative of the individual Member or holder of such interest shall have the same rights, with respect to the Unit holder or Assignee’s interest, as those held by the deceased or incapacitated person, for the purpose of settling or managing the Member’s or holder’s estate or affairs. Upon any Transfer pursuant to any decree of divorce, dissolution, or separate maintenance, any property settlement, any separation agreement, or any other agreement with a spouse (excluding a permitted Transfer to Immediate Family as set forth in Section 11.8) under which any Units are awarded to the spouse of the Member, such transferee spouse shall be treated as an Assignee until and unless such Person is admitted as a Member pursuant to the Agreement. An Assignee of any Transfer under this Section shall be bound by all of the terms and conditions of this Agreement.
Involuntary Transfers. In the event that the Management Securities owned by any Management Investor shall be subject to sale or other Transfer (the date of such sale or transfer shall hereinafter be referred to as the “Transfer Date”) by reason of (i) bankruptcy or insolvency proceedings, whether voluntary or involuntary, or (ii) distraint, levy, execution or other involuntary Transfer, then such Management Investor shall give the Company written notice thereof promptly upon the occurrence of such event stating the terms of such proposed Transfer, the identity of the proposed transferee, the price or other consideration, if readily determinable, for which the Management Securities are proposed to be transferred, and the number of Management Securities to be transferred. After its receipt of such notice or, failing such receipt, after the Company otherwise obtains actual knowledge of such a proposed Transfer, the Company or one or more designee(s) selected by a majority of the members of the Board of Directors of the Company shall have the right and option to purchase any or all of such Management Securities which right shall be exercised by written notice given by the Company or its designee(s) to such proposed transferor within 60 days following the Company’s receipt of such notice or, failing such receipt, the Company’s obtaining actual knowledge of such proposed Transfer. Any purchase pursuant to this Section 3.2 shall be at the price and on the terms applicable to such proposed Transfer. If the nature of the event giving rise to such involuntary Transfer is such that no readily determinable consideration is to be paid for the Transfer of the Management Securities, the price to be paid per share by the buyer shall be the Fair Market Value Price as of the date of such proposed Transfer for the Management Securities. The closing of the purchase and sale of Management Securities shall be held at the place and the date to be established by the buyer, which shall be no earlier than 10 days after the date such notice was sent and no later than the later of (A) 30 days after the date such notice was sent and (B) five business days after the Fair Market Value Price is finally determined as set forth in Section 3.1(a)(ii). At such closing, such Management Investor shall deliver the certificates evidencing the number of Management Securities to be purchased by the buyer, accompanied by stock powers duly endorsed in blank or duly executed instruments of transfer, and any other documents...