Common use of Indemnification for Wages, Severance and Other Obligations Clause in Contracts

Indemnification for Wages, Severance and Other Obligations. Seller shall be liable to the Employees for all wages, severance benefits, and other obligations of any kind whatsoever, including, without limitation, obligations and liabilities under Seller's Plans (as hereinafter defined), which accrued through the day before the Closing and shall hold Purchaser harmless from and indemnify Purchaser against, any and all such liabilities to Employees. Purchaser agrees to carryover the employees "seniority status" with regard to vacation days and other compensated leave. Purchaser shall assume the Seller's obligations for accrued and unused vacation and sick leave on the Closing Date.