Transferred Employees definition
Examples of Transferred Employees in a sentence
Buyer shall, and shall cause its Affiliates to use commercially reasonable efforts to, waive any pre-existing condition or actively at work limitations, evidence of insurability and waiting periods for the Transferred Employees and their eligible spouses and dependents under any employee benefit plan, program or arrangement of Buyer or any of its Affiliates for the benefit of the Transferred Employees on or after the Closing Date.
Furthermore, such Transferred Employees shall stand transferred to the rolls of the Buyer from and with effect at Closing.
Seller shall remain liable for all eligible claims for benefits under the Benefit Plans that are incurred by the Transferred Employees prior to the Closing Date.
Section 4.19 of the Disclosure Schedules provides a list of all Insurance Policies maintained for, at the expense of, or for the benefit of, the Transferred Assets or the Business, or under which India Seller has rights with respect to the Transferred Assets, Assumed Liabilities, Transferred Employees, or the Business.