Employee Payables definition

Employee Payables means any and all amounts due and owing for and to Seller’s Employees, including, without limitation, any and all amounts for payroll and payroll related accruals, Employee compensation, wages, and salaries, bonuses, 401k and related retirement contributions, Benefit Arrangements, vacation, sick, and other paid time off, unpaid continuing education, overtime, or such other related amounts. The foregoing includes any accrued but unpaid amounts of the foregoing compensation and benefits.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Employee Payables means any and all amounts due and owing for Employee payroll and payroll related accruals, including, without limitation, Employee compensation, wages, and salaries, bonuses, 401k and related retirement contributions, Benefit Arrangements, vacation, sick, and other paid time off, unpaid continuing education, overtime, or such other related amounts. The foregoing includes any accrued but unpaid amounts of the foregoing compensation and benefits.

Employee Payables has the meaning attributed to such term in Section 3.1.2;

Examples of Employee Payables in a sentence

• MergerCo shall apply the receipts from such collections, the Closing Date Cash and, to the extent necessary, the Receivables Deposit to only the Employee Payables, the January Shareholder Payables and the March Payables and, to the extent not offset by Other Assets, to Other Liabilities.

• Nucryst and S&N acknowledge that the Purchase Price for the Purchased Assets was determined based on the assumption that as at the Closing Date the book value of the Inventories plus Accounts Receivable plus Prepaid Expenses would equal the book value of Accounts Payable plus Employee Payables plus Deferred Revenue.

• Any amounts of the Escrow Fund remaining in escrow after the expiration of 90 days from the Closing Date or, if after such time there are any outstanding claims or disputed amounts for such Employee Claims or Employee Payables, after the settlement, dismissal or final judgment of each such dispute, shall be returned to Buyer, along with all accrued interest thereon.

• Seller shall pay all Employee Payables and any liabilities related thereto accrued as of the date immediately prior to the Closing to its current employees no later than the next regular payroll date following the Closing.

• Except as otherwise provided in Section 1.04 (a)(vii), Buyer has no further obligation or liability for any amounts of Employee Payables, as described in Section 1.04(a)(vii) or Employee Claims or any other employee or consultant payables that are not reflected on the Closing Balance Sheet.

• The Escrowed Funds shall be Buyer's sole liability or obligation for Employee Claims and for accrued and owed Employee Payables.

• All Employee Payables have, to the extent due, been paid or discharged in full together with all related payments to third party benefit providers or relevant authorities.

• To the extent that Seller and Stockholder are released by an employee from liability and obligation for any Employee Claims or Employee Payables pursuant to the General Release attached as Exhibit A to the Escrow Agreement and such employee further agrees with Buyer to an alternative form or method of payment therefor, all Escrow Funds allocated for such Employee Claims and Employee Payables shall be released and paid forthwith to Buyer.

• All Employee Payables are properly reflected and accrued in the Books and Records.

More Definitions of Employee Payables

Employee Payables means all payables to Company employees, including accrued salaries, wages, commissions, bonuses, paid time off and benefits.

Employee Payables means all amounts payable to Employees or for the benefit of Employees, including all accrued wages, salary, severance, accrued vacation, termination and pay in lieu of notice obligations for Employees as of the Closing Date arising from events occurring prior to the Closing Date, except for (i) those extraordinary bonuses based on the sale of the Business described at sub-part C)(i) of Schedule 4.1(w)(v), and (ii) any liabilities or amounts payable relating to or arising under any Benefit Plans (including any pension or post-retirement plan or arrangement of Vendor, its Affiliates (including the U.S. Affiliate) or their predecessors (including Nortel).

Employee Payables means all amounts payable to Employees or for the benefit of Employees in connection with their employment, including all benefits and accrued vacation, as of the Closing Time on the Closing Date, arising from events occurring prior to the Closing Date, but excluding all amounts on account of obligations and liabilities that are obligations and liabilities of the Vendor pursuant to Section 2.7.