Workers’ Compensation Liabilities. As of the Effective Time, Buyer will cause the Companies and the Transferring Subsidiaries to assume (or reimburse Seller and the other Seller Affiliates for) all liabilities and obligations relating to compensation and benefits under any state workers’ compensation or similar law payable following the Effective Time to or with respect to any Retained Employee, or to any former employee of the Business, who in either case was employed by the Companies or the Subsidiaries on the date the claim arose or the incident on which the claim is based occurred.
Appears in 2 contracts
Samples: Purchase Agreement (Saks Inc), Purchase Agreement (Bon Ton Stores Inc)
Workers’ Compensation Liabilities. As of the Effective Time, Buyer will cause the Companies and the Transferring Subsidiaries to assume (or reimburse Seller and the other Seller Affiliates for) all liabilities and obligations relating to compensation and benefits under any state workers’ ' compensation or similar law payable following the Effective Time to or with respect to any Retained Employee, or to any former employee of the Business, who in either case was employed by engaged in the Companies or the Subsidiaries Business on the date the claim arose or the incident on which the claim is based occurred.
Appears in 1 contract
Samples: Stock Purchase Agreement (Belk Inc)
Workers’ Compensation Liabilities. As of the Effective Time, Buyer will cause the Companies and the Transferring Subsidiaries to assume (or reimburse Seller Target and the other Seller Target Affiliates for) all liabilities and obligations relating to compensation and benefits under any state workers’ compensation or similar law payable following the Effective Time to or with respect to any Retained Employee, or to any former employee of the Businesseither Company, who in either case was employed by the Companies or the Subsidiaries either Company on the date the claim arose or the incident on which the claim is based occurred.
Appears in 1 contract
Workers’ Compensation Liabilities. As of the Effective Time, Buyer will cause the Companies and the Transferring Subsidiaries to assume (or reimburse Seller and the other Seller Affiliates for) all liabilities and obligations relating to compensation and benefits under any state workers’ compensation or similar law payable following the Effective Time to or with respect to any Retained Employee, or to any former employee of the Business, who in either case was employed by engaged in the Companies or the Subsidiaries Business on the date the claim arose or the incident on which the claim is based occurred.
Appears in 1 contract
Samples: Stock Purchase Agreement (Saks Inc)