Employee Wages and Other Compensation. On or before the Closing Date, Seller shall pay or cause to be paid (i) all unpaid wages or salaries (including any earned but unused vacation days accrued, irrespective of whether such vacation days are actually vested) of the personnel employed to operate the Hotel (“Employees”); (ii) any employment taxes or government levies on item (i) above; and (iii) any retirement plan payments, medical insurance payments or other similar deductions. Hereinafter, (i) through (iii) above shall be referred to as the “Seller’s Employee Payment”. Seller shall be responsible for Seller’s Employee Payment accruing (i) through the Closing Date for housekeeping and laundry service Employees, (ii) through the posted check-out time for front desk employees, (iii) through 7:00 am on the Closing Date for the night auditor and security force, and (iv) through 11:59 pm on the Apportionment Date for all other Employees. From these timeframes forward, Purchaser shall be responsible for these expenses. If all or any portion of the housekeeping or laundry service is subcontracted, Seller shall be responsible for such costs through the Closing Date.
Employee Wages and Other Compensation. On or before the Closing Date, the Contributors shall pay or cause to be paid (i) all unpaid wages or salaries (including any earned but unused vacation days accrued, irrespective of whether such vacation days are actually vested) of all persons employed at the Property; (ii) any employment taxes or government levies on item (i) above; and (iii) any retirement plan payments, medical insurance payments or other similar deductions. Hereinafter, (i) through (iii) above shall be referred to as the “Contributors’ Employee Payment.” The Contributors shall be responsible for Contributors’ Employee Payment accruing through 11:59:59 pm on the Apportionment Date. From that point forward, the Acquirer shall be responsible for these expenses for those persons who the Acquirer elect to employ.
Employee Wages and Other Compensation. All unpaid wages or salaries and benefits of persons (the “Hotel Employees”) who are employed at the Hotel and under the direction of Manager, (but specifically excluding the engineering staff for the Property listed on Exhibit W hereto (the “Engineering Staff”) which, as of the Closing Date, shall cease employment at the Hotel) accrued through the Apportionment Date, including any earned (but unused) vacation days accrued through the Apportionment Date, and any employment taxes due thereon and any retirement plan, medical or other similar deductions therefrom or owed in connection therewith, shall be prorated as of the Apportionment Date. Seller and Purchaser hereby agree that the Engineering Staff shall, as of the Closing Date cease to be employed at the Hotel and that any salaries, benefits or other payment obligations owed toward, and liabilities in respect of the cessation of employment of, such Engineering Staff shall be the sole and exclusive responsibility of Seller. The parties hereto acknowledge that Manager is currently seeking bids from third-parties to perform as of or prior to the Closing Date the work at present performed by the Engineering Staff.
