Closing Benefits Sample Clauses
The Closing Benefits clause defines the specific advantages, rights, or entitlements that a party receives upon the successful completion of a transaction or agreement. In practice, this may include the transfer of ownership, payment of the purchase price, release of escrow funds, or delivery of key documents at closing. By clearly outlining what each party gains at the close, this clause ensures that expectations are met and helps prevent disputes over what is to be delivered or received when the transaction is finalized.
Closing Benefits. In consideration of your service and the release of claims contained in this Agreement, the Company will provide you with the following benefits after the Effective Date (as defined below) of this Agreement:
Closing Benefits. Until December 31, 1999, Buyer shall continue for employees "actively at work" (as defined herein) healthcare and welfare benefits that are comparable or similar to those benefits under Seller's plan as of the Closing Date for continuing employees. Seller agrees to cooperate with Buyer to facilitate the coordination of such benefits during such period provided that Buyer shall have no obligation to provide post-termination life insurance.
Closing Benefits. Accounts (i) Within forty-five (45) days after the Closing Date, Seller shall provide to Buyer the accrued liabilities as described in Section 4.6(i) and Section 4.6(j), in each case as of the Closing Date (the “Closing Benefits Accounts”).
Closing Benefits. On the date following the Closing Date and for a period of 12 months thereafter, Parent shall provide the Continuing Employees (i) annual base salary or annual wage rate, as applicable, commission-based and cash incentive opportunities that, in the aggregate, are either no less favorable than those provided to such Continuing Employees immediately prior to the Closing Date or those provided to similarly situated employees of Parent or its Subsidiaries, whichever is more favorable to the Continuing Employee; and (ii) retirement benefits and health and welfare benefits (excluding, for the avoidance of doubt, any severance benefits), at levels that, in the aggregate, are either no less favorable than (x) those provided to such Continuing Employees immediately prior to the Closing Date or (y) those provided to similarly situated employees of Parent or its Subsidiaries, whichever is more favorable to the Continuing Employee. By way of amplification and not limitation of the provisions of the foregoing sentence, Parent shall honor the Continuing Employees’ existing commission-based incentive plan on the date following the