Common use of FUNDING OF ACCRUED EMPLOYEE BENEFITS Clause in Contracts

FUNDING OF ACCRUED EMPLOYEE BENEFITS. The Company hereby covenants and agrees that it will take whatever steps are necessary to pay or fund completely for any accrued benefits, where applicable, or vested accrued benefits for which the Company or any entity might have liability arising from any salary, wage, benefit, bonus, vacation pay, sick leave, insurance, employment tax or similar liability of the Company to any employee or other person or entity (including, without limitation, any Company Plan and any liability under employment contracts with the Company) allocable to services performed prior to the Closing Date. The Company acknowledges that the purpose and intent of this covenant is to assure that Premier shall have no liability, directly or indirectly, at any time after the Closing Date with respect to any of the Company's employees or similar persons or entities, including, without limitation, any Company Plan.

FUNDING OF ACCRUED EMPLOYEE BENEFITS. The Company hereby covenants and agrees that it will take whatever steps are necessary to pay or fund completely for any accrued benefits, where applicable, or vested accrued benefits for which the Company or any entity might have liability arising from any salary, wage, benefit, bonus, vacation pay, sick leave, insurance, employment tax or similar liability of the Company to any employee or other person or entity (including, without limitation, any Company Plan and any liability under employment contracts with the Company) allocable to services performed prior to the Closing Date. The Company acknowledges that the purpose and intent of this covenant is to assure ensure that Premier OrthAlliance shall have no liability, directly or indirectly, at any time after the Closing Date with respect to any of the Company's employees or similar persons or entities, including, without limitation, any Company Plan.