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t „ + <br /> � a <br /> , r <br /> 5 . TMD shall employ and furnish as the employees of <br /> TMD, such personnel as shall be reasonably required for the <br /> efficient and economical operation of the transit system, <br /> and shall assume and accept all current labor contracts in <br /> force upon the effective date hereof, and such other con- <br /> tractual obligations there may be in connection with the <br /> acquisition by the City of the transit system to be managed, <br /> supervised and operated by ATE and TMD. Notwithstanding the <br /> foregoing, all financial obligations arising therefrom shall <br /> be considered a direct operating expense of the transit <br /> system and shall be paid directly or reimbursed to TMD by <br /> the City. ATE guarantees the performance of all obligations <br /> on TMD' s part to be performed hereunder. <br /> 6 . Any amendments, modifications, changes, exten- <br /> sions, or renewals of collective bargaining agreements or <br /> other employee contractual agreements as may hereafter be <br /> entered into by TMD shall require the prior approval of the <br /> City; provided, however, that nothing in any collective <br /> bargaining agreement between the management company and <br /> transit employees shall be construed as a restriction or <br /> limitation on the right of the City to enter into a contract <br /> or to make arrangements with other entities for the provi- <br /> sion of mass transportation services. <br /> 7. In the event TMD in order to perform its duties <br /> and obligations under this Agreement, has or shall, with the <br /> 5 <br />