Rollover PTO definition

Rollover PTO means any banked accrued but unused vacation or other paid time off that a Transferred Employee is entitled to as of the Closing Date under Seller’s PTO policies that could have been used by the Transferred Employee in the calendar year in which the Closing Date occurs under Seller’s policies with respect to the use of banked vacation and other paid time off if such Transferred Employee had continued to be subject to such policies for the remainder of such calendar year and that is transferred to and assumed by Buyer or a Buyer Designee in accordance with Section 5.4(f).
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Rollover PTO has the meaning ascribed thereto in Section 2.7(2).
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Rollover PTO means any accrued but not used vacation or other paid time off to which a Transferred Employee is entitled as of the Closing Date that could have been used by the Transferred Employee in the calendar year in which the Closing Date occurs under Seller’s policies with respect to vacation and other paid time off if the Transferred Employee had continued to be subject to such policies for the remainder of such calendar year. “Sanctions” means all applicable trade and economic sanctions laws, regulations, or trade embargoes imposed, administered or enforced by the U.S. government (including those administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control, the U.S. Department of Commerce and the U.S. Department of State), the United Nations Security Council,
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Examples of Rollover PTO in a sentence

  • For the avoidance of doubt, the Continuing Employee shall not be permitted to roll over any of his or her Permitted Rollover PTO that is unused as of December 31, 2018 and shall receive no consideration with respect to such unused Permitted Rollover PTO.

  • On the Closing Date, the Purchase Price will be decreased by the estimated value of the Rollover PTO with respect to each Hired Employee.

  • On the Closing Date, the Seller shall notify the Buyer of the name and an estimate of the number of Rollover PTO hours accrued for each Hired Employee.

  • RECOVERY OF CERTAIN SUMS AND ARREARS DUE TO CERTAIN SOCIETIES AS ARREARS OF LAND REVENUE.

  • Following the Closing, each Hired Employee will be permitted to “roll over” one hundred percent (100%) of his or her hours of paid time off (including personal time off and vacation) that is accrued but unused by such Hired Employee as of the Closing Date (the "Rollover PTO").

  • If such Hired Employee terminates employment with the Buyer prior to using his or her Rollover PTO, in addition to any paid time off then accrued under the Buyer's policies, the Buyer shall pay such Hired Employee an amount equal to any such unused Rollover PTO upon such employment termination.

  • If the actual value of the Rollover PTO with respect to each Hired Employee calculated by the Seller within ten (10) days after the Closing Date is less than the estimated value of the Rollover PTO with respect to each Hired Employee calculated by the Seller as of the Closing Date, then the Buyer shall promptly deliver to the Seller an amount of cash equal to such difference.

  • If the actual value of the Rollover PTO with respect to each Hired Employee calculated by the Seller within ten (10) days after the Closing Date is greater than the estimated value of the Rollover PTO with respect to each Hired Employee calculated by the Seller as of the Closing Date, then the Seller shall promptly deliver to the Buyer an amount of cash equal to such difference.

  • The Buyer shall credit each Hired Employee with paid time off under Buyer's policies, in an amount equal to such actual number of Rollover PTO accrued for such Hired Employee as of the Closing Date.

Related to Rollover PTO

  • Rollover means the renewal of all or any part of any LIBOR Rate Loan upon the expiration of the Interest Period with respect thereto, pursuant to Section 2.3.

  • Rollover Loan means one or more Loans:

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Rollover Shares has the meaning given in the recitals.

  • Rollover Unit holder shall be defined as set forth in Section 5.05, herein."

  • Rollover Date means the date of commencement of a new Interest Period applicable to a Loan and which shall be a Banking Day.

  • Rollover Contributions means, for any Participant, his rollover contributions as provided in Section 7.1.

  • Rollover Agreement has the meaning set forth in the Recitals.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • Rollover Options has the meaning provided in Subsection 3.1(h).

  • Rollover Amount has the meaning set forth in Section 7.16(b).

  • Rollover Shareholders means each of Expert Master Holdings Limited, Mr. Longhua Piao and UMW China Ventures (L) Ltd.

  • Equity Contribution Agreement means the Equity Contribution Agreement, to be dated as of the Closing Date, by and among Guarantor, Borrower and Administrative Agent.

  • Rollover Distribution shall be defined as set forth in Section 5.05, herein."

  • Rollover Option has the meaning set forth in Section 2.4(a).

  • Rollover Notice shall have the meaning ascribed thereto in Section 5.2.

  • Rollover Notification Date shall be defined as set forth in the Prospectus under "Summary of Essential Information."

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Company Contribution means that portion of the main extension costs which the Company will fund based upon the following formula:

  • Equity Contributions means the equity to be contributed by the Equity Investor to Borrower, in accordance with and subject to the terms of the Partnership Agreement.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Company-Sponsored Equity Account means an account that is created with the Equity Account Administrator in connection with the administration of the Company’s equity plans and programs, including the Plan.

  • Contribution Agreements has the meaning set forth in the Recitals.

  • Direct rollover means a payment by the Plan to the Eligible Retirement Plan specified by the Distributee.

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.