Business closing definition

Business closing means the permanent or temporary shutdown of a single site of employment of one or more facilities or operating units that will result in an employment loss for twenty-five or more employees, other than part-time employees.

Business closing means a permanent or temporary shut- down of an employment site or of one or more facilities or operat- ing units at an employment site or within a single municipality that affects 25 or more employees, not including new or low−hour employees.

Business closing means the permanent or temporary shutdown of a

Examples of Business closing in a sentence

• Any modification to the Business Closing Date made pursuant to Article 14.02 shall not impact the rights and obligations of the parties under Article 14, and in particular, shall not entitle employees to any additional severance pay other than as provided under Article 14.

• Sellers shall, or shall procure that its accountants shall, after Closing prepare a draft statement showing, as at the Financial Closing Date, the Financial Debt, Cash, Working Capital, Inter-Company Payables and Inter-Company Receivables of the Target Companies as a whole by adding the respective figures for the Linde DivestCo Business and for the Praxair DivestCo Business ("Closing Statement").

• The Company shall have the right to modify the Business Closing Date by extending the Closure Period by up to an additional thirty (30) days or by shortening the Closure Period by up to ten (10) days upon providing the Union with three (3) days' advance notice and the employees with two (Z) days' advance notice by notice given at a pre-shift meeting and by posting a new notice on the bulletin board setting out the revised Business Closing Date.

• The BPC Business Special Business Closing Balance Sheet shall be subject to a special review of the accounts of the working capital by KPMG Auditores Independentes, as of the Business Closing Date, and based on the assumptions of Exhibit 4.3. Sellers shall have the term of forty five (45) days, counted as of the Business Closing Date, to present the report containing the calculation of the final PPAA (the “Auditing Report”).

• The BPC Business shall have been conducted by the Sellers and/or the Companies, as the case may be, between the date hereof and the Business Closing Date, in all material respects, as the BPC Business is currently conducted, including after the conclusion of the Corporate Reorganization, in a way that all of the obligations and restrictions provided for in Section 9 shall have been substantially complied with, in all material respects.

• The BPC Assets will be, until the Business Closing Date, owned by the Companies without Liens, for the continuance of the BPC Business, as currently carried out by Hypermarcas and its Affiliates.

• The Conditions Precedent to Business Closing for Buyer are for exclusive benefit of Buyer and may be waived in writing by Buyer, in total or in part, at Buyer’ exclusive discretion.

• Sellers shall be solely responsible for the payment of any and all Taxes, including for the preparation of the Tax returns and ancillary obligations, which are based on the activities of the BPC Business due by the Companies, until the Business Closing Date.

• Subject to Section 10.5 below, if the Business Closing Date does not occur until December 31, 2016 (the “Drop Dead Date”) and no Party is in breach of its obligations under this Agreement, any of the Parties may choose not to consummate the Business Closing, and shall inform the other Party in writing of its decision within five (5) Business Days as of the Drop Dead Date.

• There are no outstanding material defaults by Sellers (and on the Business Closing Date there will be no outstanding material defaults) thereunder (nor to the Knowledge of Sellers [initials] [initials] [initials] [initials] [initials] 40 are any of the other parties thereto in material default).

More Definitions of Business closing

Business closing has the meaning set forth in Section 10.1 of this Agreement.

Business closing means a permanent or temporary shut- down of an employment site or of one or more facilities or operat-

Business closing or "mass layoff" as defined in the Worker Adjustment and Retraining Act of 1986 (the "WARN Act") or any similar state, local or foreign law or regulation affecting any site of employment of the Company or one or more facilities or operating units within any site of employment or facility of the Company, and, during the 90-day period preceding the date hereof, no employee has suffered an "employment loss," with respect to the Company as defined in the WARN Act. Schedule 2.21 sets forth for each employee who has suffered such an "employment loss" (if any) during the 90-day period preceding the date hereof (i) the name of such employee (ii) the date of hire of such employee, (iii) such employee's regularly scheduled hours over the six month period prior to such "employment loss" and (iv) such employee's last job title(s), location, assignment(s) and department(s).

Business closing means the permanent shutdown of a facility or operations, or the cessation of work or operations not scheduled to resume within 90 days. A temporary shutdown of a seasonal employer that does not extend beyond 20 weeks is not a business closing.