Accrued PTO. On or about the Termination Date, you will receive a paycheck for any PTO that you have accrued but not used as of the Termination Date.
Accrued PTO. As soon as reasonably practicable following the Closing, Sellers shall pay all Accrued PTO obligations of the Companies relating to a period prior to the Closing.
Accrued PTO. Purchaser shall receive a credit in an amount equal to one hundred percent (100%) of the Accrued PTO for any Employees; provided, however, Seller and Purchaser shall reprorate the amount of the credit for Accrued PTO to reflect the actual amount of Accrued PTO paid by Purchaser to the Employees and pay any deficiency in the original proration to the other Party on the first (1st) anniversary of the Closing Date. This Section 11.2.7 shall survive the Closing
Accrued PTO. To the extent reflected on the Estimated Closing Statement and Closing Statement, Buyer shall or shall cause the Company or Abacus to credit each Continuing Employee with the amount of accrued but unused paid time off credited for the benefit of such Continuing Employee as of the Closing Date. Each Continuing Employee shall be entitled to use such time off in accordance with the applicable policies of the Company and Abacus as in effect from time to time following the Closing Date.
Accrued PTO. Seller shall pay directly to the Rehired Employees all Accrued PTO due to such Rehired Employees through the date immediately prior to the Closing Date on or before Seller’s first payroll date on or after the Closing Date, and Purchaser shall not receive a credit for any Accrued PTO.
Accrued PTO. Promptly following the Closing, Columbia will provide Buyer with an updated schedule of the Estimated Value of Accrued PTO, which shall reflect any changes between the date the Estimated Value of Accrued PTO schedule was prepared and the Closing Date. For purposes of the Final Purchase Price Adjustment, the amounts reflected in such updated schedule will be adjusted to eliminate the obligations to any employee of the Owners or their affiliates that does not accept Buyer's offer of employment. The sum of obligations set forth in such updated schedule is the "Value of Accrued PTO."
Accrued PTO. Executive shall be entitled to receive her accrued paid time off (“PTO”) or vacation through and including the Termination Date in accordance with the Company’s regular policies, but she shall not accrue PTO or vacation during the Severance Period.
Accrued PTO. A. Unused PTO days shall accrue from year to year during a teacher’s employment up to a maximum of 90 days of Accrued PTO. All current sick and personal leave accrued before July 1, 2019 shall roll over and be included in the teacher’s Accrued PTO balance. Accrued PTO is subject to the following regulations:
1) Unused PTO days that would take a teacher’s Accrued PTO balance over 90 days shall be “cashed in” at the end of each fiscal year (June 30) and paid to the teacher at the base substitute rate, rather than rolled over into the Accrued PTO balance.
2) No teacher shall receive pay for Accrued PTO at the time of termination of employment, except for retiring teachers (defined as teachers retiring through PERA or having 20 years or more of service in LCSD), who shall be paid half of the base substitute daily rate per unused Accrued PTO day.
B. Accrued PTO may only be used for the purposes of sick leave, as defined above.
C. Current PTO must be used before Accrued PTO may be used in a given year.
Accrued PTO. The Company shall pay out to each Transferred Employee the amount of such Transferred Employee’s Accrued PTO at Closing, and Buyer shall provide the ability, following the Closing, to take unpaid absence from work (“Unpaid Time Off”), subject to the following conditions: (i) each Transferred Employee may take a number of days of Unpaid Time Off equal to the lesser of (A) the number of days represented by such Transferred Employee’s Accrued PTO, or (B) ten (10) days (in either case, such Transferred Employee’s “Unpaid Time Off”), (ii) Unpaid Time Off may be used only in accordance with applicable Company policies governing the use of paid-time-off generally for such Transferred Employee and only during the one-year period immediately following the Closing, after which any unused Unpaid Time Off will be canceled and forfeited, and (iii) the Transferred Employee must designate, prior to any absence from work, whether the days of absence will count against the Transferred Employee’s Unpaid Time Off or against post-Closing vacation accrual (in the latter case, if available).
Accrued PTO. Seller shall timely make any payments to any Business Employees in respect of earned but unused paid time off that become due under applicable Law as a result of any transfer or termination of employment contemplated by Section 6.1. Subject to applicable law and any required employee consents, the applicable Purchaser will recognize and/or assume (as applicable and to the extent reflected in Working Capital) all other accrued but unused paid time off for Transferred Employees as of the Closing.
