Assumed Employee definition

Assumed Employee has the meaning set forth in Section 5.5(a).
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Assumed Employee means any one of them;
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Assumed Employee means a Sellers’ Employee who becomes an employee of Buyer, as contemplated by Section 4.17(b);
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Examples of Assumed Employee in a sentence

  • Subject to clause (ii) above, to the extent that any of the Employee Obligations constitute executory contracts, pursuant to sections 365 and 1123 of the Bankruptcy Code, each of them will be deemed rejected as of the Effective Date unless identified in the Schedule of Assumed Employee Obligations and shall be treated in accordance with this Article 8.

  • Unless as otherwise expressly provided in the Separation and Distribution Agreement, effective as of the Separation Effective Time, all workers’ compensation Liabilities relating to, arising out of, or resulting from any claim by any Lithium Participant that result from an accident or from an occupational disease, regardless of whether incurred before, on or after the Separation Date, shall be assumed by the Company and shall constitute Lithium Assumed Employee Liabilities.

  • From and after the Distribution Effective Time, (i) the Company shall retain the Lithium Equity Plan, and all Liabilities thereunder shall constitute Lithium Assumed Employee Liabilities, and (ii) Parent shall retain the Parent Equity Plan, and all Liabilities thereunder shall constitute Parent Retained Employee Liabilities.

  • As of and subject to the occurrence of the Effective Date, all executory contracts related to Employee Obligations shall be deemed rejected, unless such contract (a) previously expired or terminated pursuant to its own terms or by agreement of the parties thereto, (b) is the subject of a motion to reject filed by the Debtors on or before the Confirmation Date, or (c) is specifically designated as a contract to be assumed on the Schedule of Assumed Employee Obligations.

  • The Buyer does not assume and shall not be liable for any liabilities or obligations of the Seller other than as set forth in Section 2.1. The Seller shall remain responsible for all liabilities and obligations related to the Transferred Antibody Collection Business arising prior to the Closing Date except for the Assumed Employee Liabilities.

  • Any costs or expenses incurred with the foregoing shall constitute Lithium Assumed Employee Liabilities.

  • Without limiting the generality of Schedule 5.05 of the Separation Agreement, as of and following the Separation Effective Time, the Bromborough Indemnity Deed will remain in full force and effect in accordance with its terms; provided that any and all Liabilities related to or arising under the Bromborough Indemnity Deed shall constitute Lithium Assumed Employee Liabilities.

  • The Debtor’s collective bargaining agreements with any union, including those with the United Steelworkers of America, AFL-CIO-CIC, and Local 12934 of the United Steelworkers of America, AFL-CIO-CIC, and all employee benefit plans related to such collective bargaining agreements, and any and all obligations and liabilities thereunder or related thereto shall be deemed assumed by the Reorganized Debtor on the Effective Date.9.3 Assumed Employee and Retiree Benefit Plans.

  • If the Total Actual and Proposed Payment (A) is more than one million dollars ($1,000,000) and (B) includes Employee Liabilities Reserves which prove to be less than the amounts actually paid, then the Seller shall pay to the Buyer, on request, without interest, the difference between the amount of the Assumed Employee Liabilities the Buyer has actually paid and the aggregate amount the Seller has previously paid to the Buyer under this Section 3.5(a).

  • The Debtors, with the consent of the Requisite Consenting Second Lien Creditors, may amend the Schedule of Assumed Employee Obligations and the Schedule of Rejected Contracts (with the consent of the Requisite Commitment Parties only to the extent that a contract relates to New Permian Corp.


More Definitions of Assumed Employee

Assumed Employee means those Employees to whom WC shall offer employment in accordance with Section 6.2.1 of this Agreement;
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Assumed Employee means any individual who is an employee of the Company or any of the Post-Restructuring Company Subsidiaries at the Effective Time and whose employment will continue with the Company or any of the Post-Restructuring Company Subsidiaries immediately following the Effective Time, subject to Section 6.5(a).
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Assumed Employee means each individual identified as such by Buyer on a list to be provided by Buyer to Seller from time to time not more than 90 days following the Closing Date. It is intended that Assumed Employees shall be selected from Seconded Employees and Scheduled Employees prior to their actual termination date. If an Assumed Employee or Seconded Employee is terminated prior to hire by Buyer, Buyer shall reimburse Seller for all costs associated with such termination to the extent provided in Section 11.04(a) hereof. Company Employees, Transferred Employees, Scheduled Employees, Seconded Employees and Assumed Employees are hereinafter collectively referred to as "Seller Employees". Seller will not take and will cause each Company not to take any action which would impede, hinder, interfere or otherwise compete with Buyer's effort to interview or otherwise determine those Seller Employees that Buyer may identify as Transferred Employees, Seconded Employees or Assumed Employees; provided, however, that Buyer's efforts hereunder will not materially interfere with the operations of Seller's business or the business of the Companies prior to the Closing Date, and that any offers of employment to any of the Seller Employees shall be contingent upon the Closing and shall not become effective until the Closing Date.
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Related to Assumed Employee

  • Retained Employee does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.

  • Transferred Employee has the meaning set forth in Section 6.01(a).

  • Newly hired employee or “New Hire” means any employee, whether permanent, full-time, or part-time, hired by the Office and who is still employed as of the date of new employee orientation. It also includes all employees who are or have been previously employed by the Office and whose current position has placed them in the bargaining unit represented by CSEA. For those latter employees, for purposes of this article only, the “date of hire” is the date upon which the employees’ employment status changed as such that the employee was placed in the CSEA unit.

  • Company Employee means an employee of the Company or any of its Subsidiaries.

  • Hired Employee has the meaning set forth in Section 6.1.6.

  • Business Employee means any individual employed by Seller in or in connection with the Business.

  • Qualifying Employee means any employee of Managing Agent or Parent or any of their respective subsidiaries who is and has been an employee of Managing Agent or Parent or any of their respective subsidiaries for at least thirty-six (36) months.

  • Excluded Employee means an employee as defined in section 3527, subd. (b) of the Government Code (Ralph C. Dills Act) except those excluded employees who are designated managerial pursuant to section 18801.1 of the Government Code.

  • Designated Employee means an employee who has been designated by the school to receive complaints of hazing, harassment and bullying pursuant to subdivision 16 V.S.A. 570a(a)(7). The designated employees for each school building are identified in Appendix A of this policy.

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

  • New employee means a Full-Time Employee first employed by the Company in the Project and who is hired on or after the Effective Date of this Agreement.

  • Contract employee means a probationary faculty employee or a grant- funded employee hired on a year-to-year basis in accordance with Education Code 87470.

  • Designated Employees means a person occupying any of the following position in the Company:

  • Affected employee means an employee who would be affected by the grant or denial of a variance, or any one of the employee’s authorized representatives, such as the collective bargaining agent.

  • Retained Employees has the meaning set forth in Section 6.1.1.

  • Transferred Employees has the meaning set forth in Section 6.4(a).

  • Excluded Employees means those employees listed on Schedule 1.1(w);

  • U.S. Employee means a person who is an employee of the Company (or of any Subsidiary) for purposes of section 422 of the Code.

  • Service employee, means any person engaged in the performance of this contract other than any person employed in a bona fide executive, administrative, or professional capacity, as these terms are defined in Part 541 of Title 29, Code of Federal Regulations, as revised. It includes all such persons regardless of any contractual relationship that may be alleged to exist between a Contractor or subcontractor and such persons.

  • Continuing Employee has the meaning set forth in Section 6.7(a).

  • SpinCo Employee means any individual who, immediately following the Distribution Date, will be employed by Spinco or any member of the Spinco Group in a capacity considered by Spinco to be common law employment, including active employees and employees on vacation and approved leaves of absence (including maternity, paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves).

  • Company Employees shall have the meaning set forth in Section 6.10(a).

  • Active Employees means all employees employed on the Closing Date by Seller for its business who are employed exclusively in Seller’s business as currently conducted, including employees on temporary leave of absence, including family medical leave, military leave, temporary disability or sick leave, but excluding employees on long-term disability leave.

  • Separated employees means persons who separate from