Common use of WARN Clause in Contracts

WARN. Except as described in Section 7.1 of the Spinco Disclosure Letter, neither Xxxxxx (with respect to the Spinco Business only), Spinco nor Hanover shall, at any time within the 90-day period prior to the Effective Time, effectuate a “plant closing” or “mass layoff” as those terms are defined in WARN or any state or local law, affecting in whole or in part any site of employment, facility, operating unit or employee of Spinco or Hanover, without notifying the other in advance and without complying with the notice requirements and all other provisions of WARN and any state or local law.

Appears in 4 contracts

Samples: Agreement and Plan of Merger (Walter Industries Inc /New/), Merger Agreement (Walter Industries Inc /New/), Merger Agreement (Hanover Capital Mortgage Holdings Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!