Transferred Entity Employees definition
Examples of Transferred Entity Employees in a sentence
Except as set forth in Section 3.11(a) of the Sellers Disclosure Letter, neither of the Transferred Entities is involved in, or, to the Knowledge of Sellers, threatened with any material work stoppage, strike, shutdown, lockout, demand for recognition or other material labor dispute, arbitration, lawsuit or administrative proceeding relating to labor matters involving Transferred Entity Employees, and there have been no such actions or disputes in the past three (3) years.
Purchasers shall provide Sellers a list of Transferred Entity Employees employed by either a Transferred Entity or an Affiliate of Purchasers as of December 1, 2015 and shall be obligated to notify Sellers of any resignation or expected resignation of a Transferred Entity Employee prior to December 15, 2015.
To the Knowledge of Sellers, during the past three (3) years there has not been any attempt by any Transferred Entity Employees or any labor organization or other employee representative to organize or certify a collective bargaining unit or to engage in any other union organization activity with respect to the workforce of any Transferred Entity.
Buyer shall, or shall cause one of its Affiliates to, (i) continue to, as of the Closing Date, employ each of the Transferred Entity Employees who are employed immediately prior to the Closing and (ii) prior to the Closing Date (subject to Section 9.01(d) with respect to Leave Recipients) make a written offer, or cause one of its Affiliates (including the Transferred Entities) to make a written offer, of employment, commencing as of the Closing Date, to each Other Included Employee.
As of the Closing Date, Purchaser shall cause each of the Transferred Entities to continue to employ on the Closing Date its respective Transferred Entity Employees.
Purchaser will establish a tax-qualified defined contribution retirement plan for Transferred Entity Employees within ninety (90) days following the Closing Date.
For the avoidance of doubt, Buyer shall not be required to make individual offers of employment to a Transferred Entity Employee, and Seller and Buyer acknowledge that applicable Law provides for the automatic transfer of the employment of Transferred Entity Employees upon the purchase of the Transferred Interests and JV Interests.
Section 6.1(a) of the Seller Disclosure Letter sets forth the name and title of each Transferred Entity Employee employed in the United States, and Seller will, following the date hereof, update such list to add Transferred Entity Employees employed outside the United States (and will make reasonable best efforts to so update the list within 15 days following the date hereof).
Parent has provided true and complete copies of all CBAs. Except as set forth on Section 4.12(b) of the Parent Disclosure Schedule, no Transferred Entity Employees are represented by any labor union, works council, or other labor organization with respect to their employment with the Transferred Entities or the Business.
Seller or its Affiliate, as applicable, shall take such actions as are necessary to effect a termination of each non-qualified deferred compensation plan subject to Section 409A of the Code that is sponsored or maintained by Seller or its Affiliates and in which any Transferred Entity Employee participates, solely in respect of participating Transferred Entity Employees, as permitted by and in accordance with Treasury Regulations Section 1.409A-3(j)(4)(ix)(B).