Other Accruals. Seller shall be responsible for all liabilities for compensation and benefits accrued or otherwise arising out of services rendered by each APAC New Buyer Employee with respect to all periods prior to his or her termination of employment hereunder or arising by reason of actual, constructive or deemed termination of such individual’s services at the time of termination hereunder, including all severance payments, redundancy payments, allowances and other applicable accruals (collectively, “Other Accruals”) on resignation or termination of employment. Seller shall pay, or cause to be paid, to each APAC New Buyer Employee an amount in cash equal to his or her Other Accruals in accordance with Section 9.3(e).
Other Accruals. Except as may be adjusted post-Closing pursuant to Section 3.6, Buyer’s assumption of the Liabilities in the foregoing clauses (b), (c), (d), and (e) is limited to payment of the dollar amounts expressly set forth on Schedules 2.3(b), (c), (d), and (e), and Buyer is not assuming any other Liabilities related to such dollar amounts, including the circumstances under which such amounts arose or claims from employees in respect of such amounts.
Other Accruals. No later than five (5) Business Days before the Closing Date, and with respect to Transferred Employees, Seller shall, and shall cause its Affiliates to, provide Purchaser with proper accruals regarding accrued but unpaid vacation, personal hours or days earned and sick leave as well as the Accrued PTO Amount. With the exception of Business Employees’ unpaid commission and bonus amounts earned prior to the Closing Date, which shall be paid by Seller in the first payroll cycle after the Closing Date, other compensation and benefit accruals for elements such as but not limited to (i) payroll, (ii) payroll and other employer Taxes, (iii) retirement plan payables, (iv) employee stock purchase plan, (v) expenses and (vi) reimbursements (fuel, tuition or professional membership) shall be settled by Seller prior to the Closing Date.
Other Accruals. At the Closing, GCM will accrue on its books and records an amount that represents two thirds (66.667%) of the real and personal property taxes associated with the GCM Business. Buyers will be responsible for eliminating such accrual on its books and records as and when such taxes are paid by Buyers.
Other Accruals. 6 --------------
Other Accruals. All accrued but unpaid obligations of the Seller -------------- as reflected on, and property reserved for in, the Financial Statements.
Other Accruals. No later than five (5) Business Days before the Closing Date, and with respect to Business Employees, Seller shall, and shall cause its Affiliates to, provide Purchaser with proper accruals regarding accrued but unpaid (i) vacation and (ii) deferred compensation, as required by applicable Law and as outlined in Net Working Capital. With the exception of Transferred Employees’ unpaid commission and bonus amounts earned by Transferred Employees prior to the Closing Date, which shall be paid by Seller in the first payroll cycle after the Closing Date, other compensation and benefit accruals for elements such as but not limited to (i) payroll, (ii) payroll and other employer Taxes, (iii) retirement plan payables, (iv) employee stock purchase plan, (v) expenses and (vi) reimbursements (fuel, tuition or professional membership) shall be settled by Seller prior to the Closing Date.
Other Accruals. Other accruals shall be recorded when services or tangible items have been received and payment has not been made. Deferred Rent Deferred Rent shall be recorded monthly on a straight line basis over the lease term including rent escalation and sales taxes. Deferred Revenue Deferred Revenue shall be calculated by netting earned Revenue from payments received and adjustments for any tuition cap deferral consistent with the current methodology. Credit balances in Accounts Receivable shall be re-classed to Deferred Revenue. Exhibit G – Agreed Principles Revenue Recognition Revenue shall be recognized as earned on a daily basis (calendar days). If applicable, any cap placed on tuition will be netted against Revenue, estimated on a cohort basis using historical completion rates, and amortized on a straight line basis. Revenue is not recognized until a student has completed the commitment period (generally the first three weeks for new students in applicable programs). Scholarships or grants, as applicable, are netted against Revenue and recognized ratably on a monthly basis. Exhibit G – Agreed Principles EXHIBIT H Deposit Credits Lease Expiration Date Deposit return date Xxxxxxxxx 84,750.00 12/31/18 Concord Law - KU Century Center, CA 4,396.00 8/31/17 Exhibit H – Deposit Credits EXHIBIT I-1
