Examples of Transferring Employee in a sentence
Non-Transferring Employees 6.3 Prior to Completion, the Seller must procure that the Target Company, and must use best endeavours to procure that Casa Holdings and Casa Systems Canada, Ltd, must terminate the employment of any of its employees, contractors or consultants engaged in the Business that is not an Employee or a Transferring Employee (including, but not limited to the Non-Transferring Employees).
The Buyer Welfare Plans that are medical benefit plans in which a Transferring Employee participates after the Closing Date will use commercially reasonable efforts to recognize, for purposes of satisfying any deductible, co-pays and out-of-pocket maximums during the plan year in which the Closing Date occurs, any payment made by such Transferring Employee in such plan year prior to the Closing Date toward deductibles, co-pays and out-of-pocket maximums in any corresponding Employee Plan.
The employment of each Business Employee listed on Schedule 8.7(a) shall be deemed to transfer from Seller to Buyer upon the Closing; provided, however, in the event any such Business Employee does not become a Transferring Employee within thirty (30) days following the Closing Date, the employment of such Business Employee shall be deemed to transfer back to Sellers.
Each such offer of employment shall be consistent with the requirements of this Section 8.7. Business Employees who accept such offer of employment from Buyer or any of its Affiliates shall collectively be referred to as the “Transferring Employees.” Upon acceptance, such offers of employment for each Transferring Employee will supersede any prior agreements regarding the terms and conditions of employment as in effect prior to the Closing.