Accrued Vacation and Sick Leave. Buyer shall (or shall cause its Affiliates to) recognize and assume the Liability with respect to accrued but unused vacation time and sick leave for all Transferred Employees; provided that in any jurisdiction where payment of the value of accrued but unused vacation time to Transferred Employees is required by Applicable Law as of the Applicable Closing Date (a) Seller will pay, or cause to be paid, all accrued but unused vacation time to such Transferred Employees as soon as reasonably practicable after the Applicable Transfer Date, and (b) Buyer shall promptly, but in no event more than 30 days after being notified by Seller, reimburse Seller in respect of any such payment.
Accrued Vacation and Sick Leave. As of the Closing Date, Frontier shall assume the accrued vacation and sick leave obligations of Esenjay for those employees of Esenjay who accept employment with Frontier; provided, however that Frontier's maximum liability under this Section 2.02(e) shall not exceed $102,043.62, in the aggregate. -------------------- Esenjay Assets. Esenjay will contribute its rights under its agreement with Aspect to Frontier, limited to the amount of the liability assumed and paid under this Section 2.02(b) (I.E., Esenjay will retain the excess), but with a minimum amount equal to the debt being guaranteed (I.E., if the amount Frontier receives from Aspect under Esenjay's agreement with Aspect is less than the debt assumed by Frontier, Esenjay will pay Frontier the difference). The agreement will be identified on an Exhibit to Schedule 2.01 and will be treated as an Esenjay Asset for purposes of this Agreement.
(1) The Assumed Leases and Esenjay's rights in the underlying equipment or office space should be included on an Exhibit to Schedule 2.01 and will be considered an Esenjay Asset for purposes of this Agreement.
Accrued Vacation and Sick Leave. Purchaser will recognize and assume the liability with respect to accrued but unused vacation time and sick leave (in the case of such sick leave, up to the caps or maximums allowed under Purchaser’s sick leave policies) for all Business Employees in which such recognition is permitted by applicable Law. In each jurisdiction where payment of the value of accrued but unused vacation time to Business Employees in connection with the Closing is required by applicable Law and, with respect to Business Employees located in the Material Employee Jurisdictions only, the relevant Business Employee has, to the extent permitted by applicable Law, been asked at least fourteen (14) days prior to the Closing to waive his or her right to such payment in favor of the recognition of such accrued but unused vacation time by Purchaser and has not done so, (i) Parent will pay, or cause to be paid, all accrued but unused vacation time to such Business Employees as soon as reasonably practicable after the Closing Date and (ii) Purchaser will credit each such Business Employee with unpaid vacation time equal to the balance of the accrued but unused vacation paid to such Business Employee pursuant to clause (i). Purchaser reserves the right to require any Business Employee to use, within a reasonable amount of time after the Closing, any accrued paid or unpaid vacation time in excess of any maximums or caps imposed under any policy of Purchaser or its Affiliates applicable to similarly situated employees of Purchaser or its Affiliates.
Accrued Vacation and Sick Leave. Except as otherwise may be provided in any Modified Labor Agreement, Buyer or its Affiliates shall provide each Transferred Employee with credit for the same number of vacation and sick days such Transferred Employee has accrued but not used in the calendar year in which the Closing Date occurs; provided, that to the extent required by applicable Law, such amount shall be paid by Buyer or its Affiliates to the applicable Transferred Employee in cash. In the event that a Transferred Employee is unable to use such carried over vacation and sick days within the calendar year in which the Closing Date occurs, Buyer or its Affiliates shall allow such Transferred Employee to carry over such vacation and sick days to be used in the subsequent calendar year unless such Transferred Employee requests payout at the end of the current calendar year or such payout is required by applicable Law, in either of which events Buyer or its Affiliates will timely make such payments to such Transferred Employee.
Accrued Vacation and Sick Leave. 1 Section 6.11.Workers Compensation 1
Accrued Vacation and Sick Leave. (with Genesis). Purchaser and Seller shall prepare a Proration Schedule prior to Closing, including the items listed above and any other items the parties determine necessary, including but not limited to adjustments for MHFA Debt payments and resident security deposits.
Accrued Vacation and Sick Leave. With respect to each Transferred Employee, Buyer shall take all necessary action so that after the Effective Date each Transferred Employee will continue to be credited with the unused vacation and sick leave credited to such employee through the Effective Date under the applicable vacation and sick leave policies of the Companies.
Accrued Vacation and Sick Leave. Buyer shall (or shall cause its Affiliates to) recognize and assume the liability with respect to accrued but unused vacation time and sick leave for all Transferred Employees; provided that in any jurisdiction where the parties reasonably agree that payment of the value of accrued but unused vacation time to Transferred Employees is required by Applicable Law as of the Applicable Transfer Date %3. French’s Seller will pay, or cause to be paid, all accrued but unused vacation time to such Transferred Employees as soon as reasonably practicable after the Applicable Transfer Date, and %3. Buyer shall promptly, but in no event more than 15 days after being notified by French’s Seller, reimburse French’s Seller in respect of any such payment.
Accrued Vacation and Sick Leave. Effective as of the Closing Date (or, for any Parent Group Inactive Employee who becomes a Continuing Employee after the Closing, as of his or her Transfer Date), to the extent consented to by the applicable Continuing Employee or otherwise permitted by applicable Law, Purchaser Parent shall, and shall cause its applicable Affiliates (including the Transferred Entities) to, recognize, assume the Liability with respect to, and honor each Continuing Employee’s vacation, paid time off and sick leave (including personal leave) accrued but unused through the Closing Date (or such Continuing Employee’s Transfer Date, as applicable) (as assumed by Purchaser Parent and its applicable Affiliates, the “Assumed PTO”). Continuing Employees shall be permitted to use their Assumed PTO in a manner consistent with Purchaser Parent policies applicable to similarly situated employees of Purchaser Parent and to accrue additional vacation and other paid-time-off in accordance with Purchaser Parent’s policies and procedures, as in effect from time to time. Except as would result in a duplication of benefits, Purchaser Parent and its Affiliates shall recognize the Continuing Employees’ service with Sellers and their Affiliates (including the Transferred Entities) (and their predecessors) prior to the Closing (or, for any Parent Group Inactive Employee who becomes a Continuing Employee after the Closing, prior to his or her Transfer Date) for the purposes of accruals and usage of vacation and paid-time-off following the Closing.
Accrued Vacation and Sick Leave. (a) Immediately prior to the Closing, the Sellers will pay to each Exempt Transferred Employee the amount associated with any accrued vacation days of such Exempt Transferred Employee in excess of ten (10). At the Closing, the Sellers will pay to Purchaser, in respect of each Exempt Transferred Employee, the amount associated with up to ten (10) accrued vacation days of such Exempt Transferred Employee (provided, that if such Exempt Transferred Employee has fewer than ten (10) accrued vacation days under the employee benefit plans, programs and arrangements of Sellers immediately prior to the Closing, such payment will be equal to the amount associated with the actual number of accrued vacation days of such Exempt Transferred Employee under the employee benefit plans, programs and arrangements of Sellers immediately prior to the Closing). On the Effective Benefits Date, Purchaser shall cause each Exempt Transferred Employee to be credited under its employee benefit plans, arrangements and programs with the number of days of accrued vacation that is equal to the lesser of (x) the number of days of accrued vacation of such Exempt Transferred Employee under the employee benefit plans, programs and arrangements of Sellers immediately prior to the Closing or (y) ten (10) days of accrued vacation. In addition, at the Closing, the Sellers will pay to Purchaser, in respect of each Non-Exempt Transferred Employee, the amount associated with the actual number of accrued vacation days of such Non-Exempt Transferred Employee under the employee benefit plans, programs and arrangements of Sellers immediately prior to the Closing. On the Effective Benefits Date, Purchaser shall cause each such Non-Exempt Transferred Employee to be credited under its employee benefit plans, arrangements and programs with the number of days of accrued vacation that is equal to the number of days of accrued vacation of such Non-Exempt Transferred Employee under the employee benefit plans, programs and arrangements of Sellers immediately prior to the Closing.
(b) On the Effective Benefits Date, Purchaser shall cause each Transferred Employee to be credited under its employee benefit plans, arrangements and programs with the number of days of accrued sick leave that is equal to the lesser of (i) the number of days of accrued sick leave of such Transferred Employee under the employee benefit plans, programs and arrangements of Sellers immediately prior to the Closing or (ii) fifteen (15) days ...
