penguin22
Well-known member
- Joined
- Feb 18, 2006
- Posts
- 276
regardless of hvy's analysis of our scope, here's the relevant paragraph:Well, unfortunately, the scope clause may not cover this type of acquisition. In a way, ABX was also just sold/bought because it is now owned by a holding company, which also bought two more airlines.
1. Successor Transactions
a. This Agreement shall be binding upon any successor, assign, assignee, transferee, administrator, executor and/or trustee (a “Successor”) of the Company resulting in any transaction that involves: (1) a transfer (in a single transaction or in related multi-step transactions) to a Successor of ownership or control of all or substantially all of the equity securities and/or assets of the Company (hereinafter “Complete Transaction”); or (2) transfer to a Successor of ownership and/or control of a portion of the
Company’s assets in a Substantial Asset Sale (hereinafter “Partial Transaction”).
(underline added)
the equity securities get transferred to ABX Holdings, so scope flows through to ABX Holdings.