Assumed PTO definition

Assumed PTO has the meaning set forth in Section 6.7.5.

Assumed PTO is defined in Section 1.3.

Assumed PTO shall have the meaning given in Section 10.4(c)(v).

Examples of Assumed PTO in a sentence

• Transferee shall be responsible for any and all liabilities arising out of or with respect to any Transferee Employee arising with respect to (i) employment by Transferee (or its Affiliate) after the Effective Time or attributable to events or circumstances occurring after the Effective Time, and (ii) the Assumed PTO (collectively, the “Assumed Employee Liabilities”).

• Except with respect to the Assumed PTO, Buyer shall not be liable for any severance, vacation pay, or accrued compensation relating to any Continuing Employees or Affected Employees for services rendered prior to the Closing Date.

• Except for the Assumed PTO, Transferor shall retain the liability for the claims respecting all Transferee Employees that are incurred prior to the Effective Time, unless the claim resulted from actions or omissions of Transferee or its Representatives, in which case Transferee shall indemnify and hold Transferor harmless from and against any and all liabilities arising out of such actions or omissions.

• No later than March 31, 2019, the Sellers and Buyer will promptly pay to the other Party amounts required to true-up the Assumed PTO Liability Amount once finally determined.

• All PTO with respect to Hired Employees that accrued prior to the Closing other than Assumed PTO shall be an Excluded Liability.

More Definitions of Assumed PTO

Assumed PTO has the meaning specified in Section 8.2(e).

Assumed PTO means the aggregate dollar amount of all PTO to be assumed by Buyer as of the Closing with respect to the Hired Employees pursuant to Section 8.5(b), as set forth in Schedule 2.3(c) and for which Buyer receives a purchase price reduction pursuant to Section 3.1(d) hereof. For the avoidance of doubt, Buyer shall not assume and Assumed PTO shall not include (notwithstanding any schedule to the contrary) any PTO that is not legally transferred by Seller to Buyer.

Assumed PTO shall have the meaning set forth in Section 1.3(e).

Assumed PTO has the meaning set forth in Section 2.1(b).

Assumed PTO has the meaning set forth in Section 1.5(b). “Attorney General” has the meaning set forth in Section 6.3(b).

Assumed PTO has the meaning set forth in Section 4.05(j).

Assumed PTO has the meaning set forth in Schedule 7.13(h).