Common use of Certain Other Employee-Related Costs Clause in Contracts

Certain Other Employee-Related Costs. Five Business Days prior to the Closing, the Seller shall provide the Purchaser with a complete and accurate statement of any amounts expected to be payable by the Purchaser following the Closing that relate to any service by any Transferred Employee with the Seller through the Closing, including any salary or wages, any accrued vacation, sick or personal days or any bonuses, except to the extent that such amounts will be reflected as Liabilities on the Estimated Date Working Capital Statement (the “Employee Amounts”). In the event that the amounts payable by the Purchaser following the Closing that relate to service by any Transferred Employee with the Seller through the Closing exceed the Employee Amounts, the Seller shall indemnify the Purchaser for such excess pursuant to Section 8.02.

Appears in 2 contracts

Samples: Asset Purchase Agreement (NewPage CORP), Asset Purchase Agreement (NewPage Holding CORP)

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Certain Other Employee-Related Costs. Five Business Days prior to the ClosingClosing Date, the Seller shall provide the Purchaser with a complete and accurate statement of any amounts expected to be payable by the Purchaser following the Closing that relate to any service by any Transferred Employee with the Seller through the ClosingClosing Date, including including, without limitation, any salary or wages, any accrued vacation, sick or personal days or any bonuses, except to the extent that such amounts will be reflected as Liabilities on the Estimated Date Working Capital Statement bonuses (the “Employee Amounts”). If such statement is not delivered the Employee Amounts shall be assumed to equal zero. In the event that the amounts payable by the Purchaser following the Closing Date that relate to service by any Transferred Employee with the Seller through to the Closing Date exceed the Employee Amounts, the Seller shall indemnify the Purchaser for such excess pursuant to Section 8.029.2.

Appears in 1 contract

Samples: Asset Purchase Agreement (Media 100 Inc)

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Certain Other Employee-Related Costs. Five Business Days prior to the Closing, the Seller shall provide the Purchaser with a complete and accurate statement of any amounts expected to be payable by the Purchaser following the Closing that relate to any service by any Transferred Employee with the Seller through the Closing, including any salary or wages, any accrued vacation, sick or personal days or any bonuses, except to the extent that such amounts will be reflected as Liabilities on the Estimated Date Working Capital Statement (the "Employee Amounts"). In the event that the amounts payable by the Purchaser following the Closing that relate to service by any Transferred Employee with the Seller through the Closing exceed the Employee Amounts, the Seller shall indemnify the Purchaser for such excess pursuant to Section 8.02.

Appears in 1 contract

Samples: Asset Purchase Agreement (Glatfelter P H Co)

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