Vacation and Paid Leave. From and after the Closing, Buyer shall, and shall cause its Affiliates, to assume and honor all accrued but unused vacation and other paid time-off of the Transferred Employees that are properly accrued on the books and records of the Transferred Company and its Subsidiaries as of the Closing; provided that this covenant shall be subject to the limitations with respect to using such accrued vacation as provided for under the applicable plans and policies of Buyer and its Affiliates for similarly situated employees of Buyer and its Affiliates, but in no event shall any such accrued but unused vacation and other paid time-off be forfeited to the extent it would not be forfeited in accordance with the policies of Seller or the Company as in effect immediately prior to the Closing. Notwithstanding the foregoing, if Seller and its Affiliates are required under applicable Law to make a payment in settlement of accrued vacation or paid time off of any Transferred Employee in connection with the transactions contemplated by this Agreement, Buyer shall reimburse Seller and its Affiliates (other than the Transferred Company or any of its Subsidiaries) for such payment no later than ten (10) business days following the date such payment is actually made by Seller or its Affiliates.
Vacation and Paid Leave. From and after the Closing Date, Purchaser shall, and shall cause its Affiliates, to assume and honor all accrued but unused vacation and other paid time off of the Transferred Employees, provided, however, if the Seller or any of its Affiliates is required under applicable Law to make a payment in settlement of accrued vacation or paid time off of any Transferred Employee, Purchaser shall hold harmless and reimburse the Seller and its Affiliates for such payment no later than ten (10) Business Days following the date such payment is made by the Seller or its Affiliates.
Vacation and Paid Leave. During the Continuation Period, the Purchaser shall, and shall cause its Affiliates, to assume and honor all accrued but unused vacation and other paid time-off of the Transferred Employees.
Vacation and Paid Leave. From and after the Closing, Transferee shall, and shall cause its Affiliates (including the Companies) to, assume and honor all accrued but unused vacation, sick leave and other paid time-off of each Company Employee that remains employed by the Companies (or Transferee or any of its Affiliates other than the Companies) (each, a “Continuing Employee”).
Vacation and Paid Leave. From and after the Closing, Purchaser shall, and shall cause its Affiliates (including the Companies) to, assume and honor all accrued but unused vacation, sick leave and other paid time-off of each Company Employee that remains employed by the Companies (or Purchaser or any of its Affiliates other than the Companies) (each, a “Continuing Employee”).
