PARTIAL TRANSACTIONS Clause Samples
PARTIAL TRANSACTIONS. In addition to all other protections under this Agreement, if, within any twelve (12) month period while the Agreement remains in effect, American Airlines Group or the Company sells, transfers or disposes of assets which, net of asset purchases or acquisitions during the same twelve (12) month period, constitute twenty percent (20%) or more of the value of the assets of the Company or American Airlines Group (the closing of any such transaction(s) which alone or in the aggregate satisfy the aforesaid percentage being referred to as a “Triggering Event”), then:
1. In the event another air carrier (a “Transferee”) purchases or acquires any aircraft of the Company or American Airlines Group as part of any transaction that constitutes a Triggering Event, the Union shall determine, in its sole discretion, whether or not Flight Attendants from the American Airlines System Seniority List (the “Transferring Flight Attendants”) shall transfer to the Transferee and which Flight Attendants shall transfer. The number of Transferring Flight Attendants shall be determined by calculating the average Flight Attendant staffing on a monthly basis over the prior twelve (12) months attributable to the aircraft transferred to the Transferee in connection with the Triggering Event; and
2. The Company and American Airlines Group shall require any Transferee to employ the Transferring Flight Attendants, with the integration of the Transferring Flight Attendants into the Transferee’s seniority list to be governed by the Union Merger Policy if both pre- transaction flight attendant groups are represented by the Union and otherwise by Sections 3 and 13 of the Allegheny-Mohawk LPPs.
PARTIAL TRANSACTIONS. In addition to all other protections under this Agreement, if, within any twelve (12) month period while the Agreement remains in effect, US Airways Group or the Company sells, transfers or disposes of assets which, net of asset purchases or acquisitions during the same twelve
PARTIAL TRANSACTIONS. 11 a. In addition to all other protections under this Agreement, if, within 12 any twelve (12) month period while the Agreement remains in effect, US 13 Airways Group or the Company sells, transfers or disposes of assets which, net 14 of asset purchases or acquisitions during the same twelve (12) month period, 15 constitute twenty percent (20%) or more of the value of the assets of the 16 Company or US Airways Group (the closing of any such transaction(s) which 17 alone or in the aggregate satisfy the aforesaid percentage being referred to as a 18 “Triggering Event”), then:
20 (1). In the event another air carrier (a “Transferee”) purchases or 21 acquires any aircraft of the Company or US Airways Group as part of any 22 transaction that constitutes a Triggering Event, the Association shall determine, 23 in its sole discretion, whether or not flight attendants from the US Airways 24 System Seniority List (the “Transferring Flight Attendants”) shall transfer to the 25 Transferee and which flight attendants shall transfer. The number of 26 Transferring Flight Attendants shall be determined by calculating the average 27 flight attendant staffing on a monthly basis over the prior twelve (12) months 28 attributable to the aircraft transferred to the Transferee in connection with the 29 Triggering Event; and 31 (2). The Company and US Airways Group shall require any 32 Transferee to employ the Transferring Flight Attendants, with the integration of 33 the Transferring Flight Attendants into the Transferee’s seniority list to be 34 governed by the Association Merger Policy if both pre-transaction flight 35 attendant groups are represented by the Association and otherwise by Sections 3 36 and 13 of the Allegheny-Mohawk LPPs. 37
38 b. This Paragraph D.3. shall not apply to: (1) transactions made 39 necessary by circumstances over which the Company has no control, as defined 40 in Paragraph E.2. below; (2) the retirement of aged aircraft in the ordinary 41 course of business; and (3) financing transactions such as sale-leasebacks where 42 the transferred assets continue to be used in the Company’s operation. 43