APC Headquarters definition
Examples of APC Headquarters in a sentence
If, however, APC, without Holdings' prior express written permission, continues, after that date which is eight (8) weeks after the Closing, the employment of any APC Headquarters Employee, such circumstance, without more, shall immediately and automatically result in the termination of all obligations of Holdings under this Agreement for severance benefits of any kind with respect to such employee.
The foregoing notwithstanding, Holdings shall be responsible for any severance benefits payable as a result of the termination within eight (8) weeks after the Closing of the employment of any APC Headquarters' Employee other than any severance benefits or penalties as are attributable to the wrongful acts or inactions of Buyer or its Affiliates (including APC or its Subsidiaries after the Closing).
Notwithstanding the foregoing to the contrary, with respect to any APC Headquarters Employees, Buyer (and after the Closing, APC and its Subsidiaries) shall, except as provided hereinafter, assume Liabilities accrued, arising or incurred under, or otherwise relating to, any APC Plan or APC Benefit Arrangement, and such Liabilities shall not be deemed Excluded Liabilities for purposes of this Agreement.
All of the above notwithstanding, the parties have agreed that in the interests of facilitating a transition following the Closing, APC shall be entitled to continue, for a period of up to eight (8) weeks following the Closing, the employment of any of the APC Headquarters Employees, provided APC shall be liable for such employees' salary and benefits earned or accrued during such period.
In addition, to the extent provided in Section 2.2.3, PHL and Holdings shall indemnify Buyer (and after Closing, APC and its Subsidiaries) for any Losses incurred by Buyer (and after Closing, APC and its Subsidiaries) with respect to any severance payment obligations required to be made by Buyer, APC or their Subsidiaries after the Closing to any employees employed by APC at the APC Headquarters whose employment is terminated after the Closing.