PTO Amount definition

PTO Amount is the aggregate dollar value of paid time off payable to the Transferred Employees at Closing by Seller.
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PTO Amount shall have the meaning set forth in Section 5.7(h).
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PTO Amount means the amount of all vested and accrued but unused personal or vacation time to which any Transferred Employee is entitled as of the Closing, which is assumed by Purchaser pursuant to Section 2.3(d).
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Examples of PTO Amount in a sentence

  • Cir.)21-4198, -1500, -1501, -1502, -1503, -1504, -1505, -1506, -1507, -1508, - 1509 (Fed.

  • The aggregate consideration for the sale, conveyance, assignment, transfer and delivery of the Acquired Assets, and the assumption by Buyer of the Assumed Liabilities shall be $3,200,000, plus the Affected Employee PTO Amount, described at Section 5.1(h), minus the Environmental Remedial Cost described in Section 5.1(j)(ii) (as so adjusted, the "Cash Purchase Price").

  • As of the Closing, the Closing PTO Amount Schedule will set forth an accurate and complete list of the amount of Accrued PTO for each of the Target Employees.

  • As of the Closing, the Closing PTO Amount Schedule will set forth an accurate and complete list of the amount of PTO Accrual for each of the Target Employees.

  • Seller agrees to use its commercially reasonable efforts to obtain necessary consents from each Target Employee relating to Buyer’s or its Affiliates’ assumption of the accrued, but unused PTO set forth on the Closing PTO Amount Schedule.

  • Buyer’s Transfer Offer shall include a consent from each Transferred Employee to Buyer’s or its Affiliates’ assumption of the unused PTO Accrual set forth on the Closing PTO Amount Schedule.

  • For the avoidance of doubt, the Debtors shall have no further responsibility for PTO Liabilities other than the funding of the PTO Amount defined herein.

  • At least two (2) Business Days prior to the Closing, Seller shall deliver to Buyer a true and accurate schedule setting forth the amount of all Accrued PTO through and as of the Closing Date for each of the Target Employees (the “Closing PTO Amount Schedule”).

  • At least two (2) Business Days prior to the Closing, Seller shall deliver to Buyer a true and accurate schedule setting forth the amount of all PTO Accrual through and as of the Closing Date for each of the Employees who have received a Transfer Offer and have not, prior to such date, rejected such Transfer Offer (the “Closing PTO Amount Schedule”).

  • Seller Parties shall retain all Liability for salary, wages, bonuses, stay bonuses, and any other Liabilities arising with respect to all Employees (including the Target Employees) before the Closing Date; provided, however, Buyer shall, or Buyer shall cause one of its Affiliates to, assume all Liability for all accrued, but unused PTO set forth on the Closing PTO Amount Schedule and that is credited to Buyer or any of its Affiliates for the benefit of Target Employees.


More Definitions of PTO Amount

PTO Amount means the amount of all vested and accrued but unused personal or vacation time to which any Transferred Employee is entitled as of the Closing, which is assumed by Purchaser pursuant to S ection 2.3(d).
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Related to PTO Amount

  • M&O Amount means the revenue protection payment required as part of this Agreement as set out in TEXAS EDUCATION CODE Section 48.256(d) and shall have the meaning assigned to such term in Section 4.2 of this Agreement.

  • FX Reduction Amount is defined in Section 2.1.3.

  • Reduction Amount has the meaning set forth in Section 2.05(b)(viii).

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Class C Unpaid Realized Loss Amount As of any Distribution Date, the excess of (1) the Class C Applied Realized Loss Amount over (2) the sum of (x) all distributions in reduction of the Class C Unpaid Realized Loss Amounts on all previous Distribution Dates and (y) all increases in the Certificate Principal Balance of such Class C Certificates pursuant to the last sentence of the definition of "Certificate Principal Balance."

  • Maximum Distributable Amount means any maximum distributable amount relating to the Issuer and/or the Group (if any) which is determined pursuant to Article 141 of the CRD IV Directive (or, as the case may be, any provision of Danish law transposing or implementing Article 141 of the CRD IV Directive), or any successor provision thereto;

  • Accumulation Amount means $83,333,333.34; provided, however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement.

  • Balance Amount shall have the meaning set forth in Section 8.1 of this Agreement.

  • Unpaid Realized Loss Amount With respect to any Class A Certificates and as to any Distribution Date, is the excess of Applied Realized Loss Amounts with respect to such Class over the sum of all distributions in reduction of the Applied Realized Loss Amounts on all previous Distribution Dates. Any amounts distributed to the Class A Certificates in respect of any Unpaid Realized Loss Amount shall not be applied to reduce the Certificate Principal Balance of such Class.

  • Like Amount means (a) with respect to a redemption of any Trust Securities, Trust Securities having a Liquidation Amount equal to the principal amount of Notes to be contemporaneously redeemed or paid at maturity in accordance with the Indenture, the proceeds of which will be used to pay the Redemption Price of such Trust Securities, (b) with respect to a distribution of Notes to Holders of Trust Securities in connection with a dissolution of the Trust, Notes having a principal amount equal to the Liquidation Amount of the Trust Securities of the Holder to whom such Notes are distributed and (c) with respect to any distribution of Additional Interest Amounts to Holders of Trust Securities, Notes having a principal amount equal to the Liquidation Amount of the Trust Securities in respect of which such distribution is made.

  • Accrual Amount With respect to any Class of Accrual Certificates and any Distribution Date prior to the Accrual Termination Date, the amount allocable to interest on such Class of Accrual Certificates with respect to such Distribution Date pursuant to Section 4.02(a)(ii).

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Gross-Up Amount has the meaning set forth in definition of “Make Whole Amount.”

  • Distributable Amount has the meaning set forth in Section 5.02(d) hereof.

  • Class C Distributable Amount As defined in the Preliminary Statement.

  • Cash Flow Distribution Amount As to any calendar month, the aggregate amount of principal distributable in respect of the Mortgage Securities in such calendar month.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

  • Amortization Amount shall have the meaning provided in Section 5.2(c).

  • Total Available Amount With respect to any Distribution Date, the sum of the Available Interest and the Available Principal for such Distribution Date and the amount of all cash or other immediately available funds on deposit in the Reserve Account immediately prior to such Distribution Date.

  • Broken Amount means, in respect of any Interest Payment Date, the amount specified in the relevant Final Terms.

  • Total Distribution Amount With respect to any Distribution Date, the sum of (i) the aggregate of the Interest Remittance Amounts for such date; (ii) the aggregate of the Principal Remittance Amounts for such date; and (iii) all Prepayment Premiums collected during the related Prepayment Period.

  • Class X Distributable Amount On any Distribution Date, (i) as a distribution in respect of interest, the amount of interest that has accrued on the Class X Interest and not applied as an Extra Principal Distribution Amount on such Distribution Date, plus any such accrued interest remaining undistributed from prior Distribution Dates, plus, without duplication, (ii) as a distribution in respect of principal, any portion of the principal balance of the Class X Interest which is distributable as an Overcollateralization Reduction Amount, minus (iii) any amounts paid as a Basis Risk Payment.