Assumed Employee Obligations definition

Assumed Employee Obligations means all of Seller’s obligations set forth on Schedule 5.05.
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Assumed Employee Obligations means the obligations assumed by the Purchaser pursuant to Section 9.4;
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Assumed Employee Obligations has the meaning set forth in Section 7.
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Examples of Assumed Employee Obligations in a sentence

  • 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.

  • 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.

  • 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.

  • On the Closing Date, Purchaser shall assume liability for Seller’s accrued but unpaid allowed administrative expense claims in an amount not exceeding $1,000,000 incurred prior to the Closing Date (“ Assumed Administrative Expenses”) other than the Assumed Employee Obligations.

  • Purchaser shall pay or otherwise satisfy the Assumed Employee Obligations as and when such obligations become due in the ordinary course.

  • Available at URL: https://amr- review.org/sites/default/files/AMR%20Review%20Paper%20-%20Tackling%20a%20crisis%20for%20the%20health%20and%20wealth%20of%20nations_1.pdf.2. Mukokinya M, Opanga S, Oluka M, Godman B.

  • The Debtors, with the consent of the Requisite Consenting SecondLien 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.

  • To the extent the Assumed Employee Obligations are determined to be less than$1,000,000, Purchaser shall transfer the difference between $1,000,000 and the Assumed Employee Obligations to the Debtor’s estate for distribution to general unsecured creditors pursuant to a plan of liquidation.


More Definitions of Assumed Employee Obligations

Assumed Employee Obligations means any and all obligations and liabilities of any kind, character or nature whatsoever relating to the EKATI Former Employees and the employment of the Assumed Employees prior to, on or after the Closing Date, provided that the BHP Billiton Canada Employee Plans (other than the BHP Billiton Canada DB Plan) themselves, and the Contracts creating or establishing them, shall not be considered to be Assumed Employee Obligations;
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Assumed Employee Obligations means the Assumed FSA Obligations, the Assumed Employment Agreements, the Assumed Collective Bargaining Agreements, the Assumed Transferred Employee Service, the Transferred Bonus, the Transferred PTO and the Liabilities arising under or relating to the Substituted Multiemployer Plan relating to the Transferred Employees to the extent set forth in Section 8.3(h) hereof or arising from and after Closing. 62
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Assumed Employee Obligations has the meaning set forth in Section 2.4(a)(iii).
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Related to Assumed Employee Obligations

  • Employee Obligations means all wages, bonuses, vacation pay, sick time, pension payments, overtime pay, change of control payments, severance pay and any other termination or severance obligations and any other compensation or obligation which may be due by statute, contract or Law relating to the employment of the Employees.

  • Excluded Employees shall have the meaning set forth in Section 5.1.2.

  • Employee Liabilities means all claims, actions, proceedings, orders, demands, complaints, investigations (save for any claims for personal injury which are covered by insurance) and any award, compensation, damages, tribunal awards, fine, loss, order, penalty, disbursement, payment made by way of settlement and costs, expenses and legal costs reasonably incurred in connection with a claim or investigation including in relation to the following: redundancy payments including contractual or enhanced redundancy costs, termination costs and notice payments; unfair, wrongful or constructive dismissal compensation; compensation for discrimination on grounds of sex, race, disability, age, religion or belief, gender reassignment, marriage or civil partnership, pregnancy and maternity or sexual orientation or claims for equal pay; compensation for less favourable treatment of part-time workers or fixed term employees; outstanding debts and unlawful deduction of wages including any PAYE and National Insurance Contributions in relation to payments made by the Customer or the Replacement Supplier to a Transferring Supplier Employee which would have been payable by the Supplier or the Sub-Contractor if such payment should have been made prior to the Service Transfer Date; claims whether in tort, contract or statute or otherwise; any investigation by the Equality and Human Rights Commission or other enforcement, regulatory or supervisory body and of implementing any requirements which may arise from such investigation;

  • Employment Liabilities means all claims, demands, actions, proceedings, damages, compensation, tribunal awards, fines, costs (including but not limited to reasonable legal costs), expenses and all other liabilities whatsoever;

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

  • 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.

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

  • Seller Benefit Plans has the meaning set forth in Section 4.10(a).

  • Business Employees has the meaning set forth in Section 4.10(a).

  • Assumed Obligations has the meaning specified in Section 2.2.

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

  • 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.

  • Company Employee Plans has the meaning set forth in Section 3.12(a).

  • Canadian Benefit Plans means all material employee benefit plans of any nature or kind whatsoever that are not Canadian Pension Plans and are maintained or contributed to by any Credit Party having employees in Canada.

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Hired Employees has the meaning set forth in Section 6.1(a).

  • Excluded Liabilities has the meaning set forth in Section 2.4.

  • Seller Employee Plan means any plan, program, policy, practice, Contract or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written, unwritten or otherwise, funded or unfunded, including each “employee benefit plan,” within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by the Seller or any Seller Affiliate for the benefit of any Seller Employee, or with respect to which the Seller or any Seller Affiliate has or may have any liability or obligation, except such definition shall not include any Seller Employee Agreement.

  • SpinCo Liabilities shall have the meaning set forth in Section 2.3(a).

  • Tipped employee means any employee engaged in an occupation in which s/he customarily and regularly receives more than $30 per month in tips. Tips include amounts designated as a tip by credit card customers on their charge slips. Nothing in this rule prevents an employer from requiring employees to share or allocate such tips or gratuities on a pre-established basis among other employees who customarily and regularly receive tips. Employer-required sharing of tips with employees who do not customarily and regularly receive tips, such as management or food preparers, or deduction of credit card processing fees from tipped employees, shall nullify allowable tip credits towards the minimum wage.

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

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

  • Retained Obligations shall have the meaning set forth in Section 2.6.

  • Employee of a facility means a person who is an employee of a facility defined by Section 250.001, Health and Safety Code, or any other person who provides services for a facility for compensation, including a contract laborer.

  • Purchaser Benefit Plans has the meaning set forth in Section 8.7(d).