Common use of PTO Pay Clause in Contracts

PTO Pay. Seller shall credit to Purchaser on the Closing Statement (as defined in Section 10.1(a)), as of each Closing Date, for all earned and accrued vacation, sick or personal pay or other paid time off of all Transitioned Employees (as defined in Section 5.6) for Facilities being conveyed on such Closing Date (collectively, "PTO"). Seller shall deliver to Purchaser a schedule of PTO of Transitioned Employees employed at a Facility within five (5) days prior to the Closing for such Facility, which schedule shall include all PTO for Transitioned Employees of the applicable Facilities (i) as of the most recent pay period preceding the Closing Date, and (ii) projected PTO as of the Closing Date, which shall assume no further vacation or sick days for all Transitioned Employees except for known scheduled vacation. The schedule shall list all PTO of all Transitioned Employees, including the method of calculation of the PTO and the dollar value thereof to the Transitioned Employees to whom the amounts are potentially owed. Purchaser shall thereafter be responsible for all such PTO to all such Transitioned Employees to the extent of the credit received from Seller at Closing, and the amount of such PTO shall be subject to the post-closing reconciliation process described in Section 10.5 below.

PTO Pay. Seller The Sellers shall credit to Purchaser the Purchasers on the Closing Statement (as defined in Section 10.1(a))Statement, as of each the Closing Date, Date for all earned and accrued paid vacation, sick or personal pay or other paid time off timeoff of all Transitioned Employees (as defined in Section 5.6) for Facilities being conveyed on such the Closing Date (collectively, "“PTO"”). Seller The Sellers shall deliver to Purchaser the Purchasers a schedule list of PTO of Transitioned Employees employed at a Facility or employed at a regional corporate level within five (5) days prior to the Closing for such FacilityFacility (the “PTO List”), which schedule shall include all PTO for Transitioned Employees of the applicable Facilities (i) as of the most recent pay period preceding the Closing Date, Date and (ii) projected PTO as of the Closing Date, which shall assume no further vacation or sick days for all Transitioned Employees except for known scheduled vacation. The schedule PTO List shall list all PTO of all Transitioned Employees, including the method of calculation of the PTO and the dollar value thereof to the Transitioned Employees to whom the amounts are potentially owed. Purchaser The Purchasers shall thereafter be responsible for all such PTO to all such Transitioned Employees to the extent of the credit received from Seller the Sellers at the Closing, and the amount of such PTO shall be subject to the post-closing Closing reconciliation process described in Section 10.5 9.6 below.