WARN Act. Split-Off Subsidiary does not have a sufficient number of employees to make it subject to the Worker Adjustment and Retraining Notification Act.
WARN Act. Buyer does not intend to engage in a Plant Closing or Mass Layoff as such terms are defined in the WARN Act within sixty days of the Closing Date.
WARN Act. Parent and Merger Sub are neither planning nor contemplating, and Parent and Merger Sub have neither made nor taken, any decisions or actions concerning the Company Employees after the Closing that would require the service of notice under the WARN Act or similar local laws.
WARN Act. Effectuate a “plant closing” or “mass layoff,” as those terms are defined in the Worker Adjustment and Retraining Notification Act of 1988 or effectuate any similar action under any foreign Law;
WARN Act. Notwithstanding the provisions of Section 5.1 through 5.5, in the event the Executive is entitled, by operation of any act or law, to unemployment compensation benefits or benefits under the Work Adjustment and Retraining Act of 1988 (known as the "WARN Act") in connection with the termination of his or her employment in addition to those required to be paid to him or her under this Agreement, then to the extent permitted by applicable law governing severance payments or notice of termination of employment, the Company shall be entitled to offset against the amount payable hereunder the amounts of any such mandated payments.
WARN Act. Unless Buyer or the Manager expressly agrees otherwise, none of the employees of the Hotel shall become employees of Buyer, as of the Closing Date; instead, such employees shall become employees of a third party leasing company retained by the Manager. Seller shall not give notice under any applicable federal or state plant closing or similar act, including, if applicable, the Worker Adjustment and Retraining Notification Provisions of 29 U.S.C., Section 2102, the parties having agreed that a mass layoff, as that term is defined in 29 U.S.C., 2101(a)(3), will not have occurred. Any liability for payment of all wages, salaries and benefits, including, without limitation, accrued vacation pay, sick leave, bonuses, pension benefits, COBRA rights, and other benefits accrued or earned by and due to employees at the Hotel through the Cutoff Time, together with F.I.C.A., unemployment and other taxes and benefits due with respect to such employees for such period, shall be charged to Seller, in accordance with the Existing Management Agreement, for the purposes of the adjustments to be made as of Closing. All liability for wages, salaries and benefits of the employees accruing in respect of and attributable to the period from and after Closing shall be charged to Buyer, in accordance with the New Management Agreement. To the extent applicable, all such allocations and charges shall be adjusted in accordance with the provisions of the Existing Management Agreement.
WARN Act. Buyer does not intend, with respect to the Acquired Assets or Transferred Employees, to engage in a “plant closing” or “mass layoff,” as such terms are defined in the WARN Act, within sixty (60) days after the Closing Date.
WARN Act. Buyer is not planning or contemplating, and has not made or taken any decisions or actions concerning the employees of the Stations after the Closing Date that would require the service of notice under the Worker Adjustment and Retraining Notification Act of 1988, as amended, or any similar state law.
WARN Act. Buyer and Seller shall cooperate with each to provide any notice required under the WARN Act or similar local laws, and Buyer shall provide Seller with all information required to issue such notices required prior to the Closing.
WARN Act. On or before the Closing, Seller shall provide Buyer with a true and complete list of employee layoffs, by date and location, implemented in the ninety (90)-day period preceding the Closing. (iii) Any Business Employee shall be referred to as a “Transferred Employee” for all periods after the Closing Date. (iv) Buyer shall assume and be solely responsible for all liabilities in respect of claims made by any Transferred Employee for notice, retention, severance, retrenchment or other termination pay or benefits relating to the termination of employment of any Transferred Employee by Buyer or an Affiliate of Buyer only if such action occurs after the Closing and at the direction of Buyer. (v) Buyer hereby agrees that effective as of the Closing Date and continuing for at least one (1) year following the Closing Date, or the date of termination of the relevant Transferred Employee if earlier, Buyer will provide (or cause to be provided) to each Transferred Employee (a) base salary or wages no less favorable than the base salary or wages provided to such employee immediately prior to the Closing and (b) other compensation (including bonus opportunity at “target”) and employee benefits that are, in the aggregate with respect to such employee, substantially comparable in value to the compensation and employee benefits provided to such employee immediately prior to the Closing. In addition and without limiting the generality of the foregoing: for at least one (1) year following the Closing Date Buyer shall, or shall cause the Company and its Subsidiaries to, provide to each Transferred Employee who is terminated or receives notice of termination on or prior to the date that is twelve (12) months after the Closing Date, severance benefits equal to the greater of (A) the severance benefits for which such Transferred Employee was eligible as of immediately prior to the Closing, and (B) the severance benefits provided for under the severance plans, policies or arrangements of Buyer and its Affiliates. Buyer hereby agrees that, from and after the Closing Date, Buyer shall, or shall cause the Company or one of its Subsidiaries to, grant all Transferred Employees credit for any service with respect to the Company or any of its Subsidiaries earned prior to the Closing Date for eligibility and vesting purposes under any benefit plan, program or arrangement established, continued or maintained by or on behalf of the Company or any of its Subsidiaries on or after the Closin...
