Termination of Employees. The Seller shall terminate each employee at all Restaurants effective as of the Closing. Seller shall bear any and all obligations and liability under the Worker Adjustment and Retraining Notification Act, 29 U.S.C. § 2101 et seq. resulting from employment losses pursuant to this Section 4.16. Prior to the Closing, the timing of which shall be jointly agreed to by Seller and Purchaser, Purchaser may contact and make arrangements with any or all of the Subject Restaurant Employees, in the presence of representatives of the Seller, for the purpose of securing their employment by Purchaser immediately after the Closing and for the purpose of ensuring the continuity of the Restaurants after the Closing.
Appears in 3 contracts
Samples: Asset Purchase Agreement (Carrols Restaurant Group, Inc.), Asset Purchase Agreement (Carrols Restaurant Group, Inc.), Asset Purchase Agreement (Carrols Restaurant Group, Inc.)
Termination of Employees. The Seller shall terminate each employee at all Restaurants effective as of the Closing. Seller shall bear any and all obligations and liability under the Worker Adjustment and Retraining Notification Act, 29 U.S.C. § 2101 et seq. resulting from employment losses pursuant to this Section 4.16. Prior to the Closing, the timing of which shall be jointly agreed to by Seller and Purchaser, Purchaser may contact and make arrangements with any or all of the Subject Restaurant Employees, in the presence of representatives of the Seller, for the purpose of securing their employment by Purchaser immediately after the Closing and for the purpose of ensuring the continuity of the Restaurants after the Closing.. ARTICLE V
Appears in 1 contract
Samples: Asset Purchase Agreement
