WARN. The Purchaser shall be responsible for any obligation with respect to employees of the Pershing Companies under the Worker Adjustment Retraining and Notification Act of 1988 and any applicable state or local Law equivalent (collectively, the “WARN Act”) arising or accruing on and after the Closing Date. The Seller shall be responsible for any obligation with respect to employees of the Pershing Companies under the WARN Act arising or accruing before the Closing Date. The parties agree to cooperate in good faith to determine whether any notification to employees of the Pershing Companies may be required pursuant to the WARN Act before the Closing Date.
Appears in 3 contracts
Samples: Transaction Agreement (Credit Suisse First Boston Usa Inc), Transaction Agreement (Credit Suisse Group), Transaction Agreement (Credit Suisse Group)
WARN. The Purchaser shall be responsible for any obligation with respect to employees of the Pershing Companies under the Worker Adjustment Retraining and Notification Act of 1988 and any applicable state or local Law equivalent (collectively, the “"WARN Act”") arising or accruing on and after the Closing Date. The Seller shall be responsible for any obligation with respect to employees of the Pershing Companies under the WARN Act arising or accruing before the Closing Date. The parties agree to cooperate in good faith to determine whether any notification to employees of the Pershing Companies may be required pursuant to the WARN Act before the Closing Date.
Appears in 1 contract
