Common use of Severance Liabilities Clause in Contracts

Severance Liabilities. Seller and its Affiliates shall be solely responsible for any severance, redundancy or similar termination payments or benefits (a) that may become payable to any Triage Business Employee arising out of or in connection with the Transactions and any amounts paid or payable to any Triage Business Employee who does not become a Transferred Employee because such Triage Business Employee does not accept an offer to transfer employment, provided the offer of employment made by the applicable Designated Purchaser to such Triage Business Employee is made pursuant to and in accordance with the requirements of Sections 7.01(c), 7.02(a), (b) and (c) and 7.05, or (b) to the extent set forth on Schedule 7.03. Purchaser and its Affiliates shall be responsible for all claims for severance, redundancy or similar termination payments or benefits incurred by Transferred Employees after the Closing except as set forth on Schedule 7.03.