Accrued Payroll Clause Samples
The Accrued Payroll clause defines how wages and related employee compensation that have been earned but not yet paid are handled, typically in the context of a business transaction or at the end of a reporting period. This clause specifies which party is responsible for paying outstanding payroll obligations, such as salaries, bonuses, and benefits, that have accumulated up to a certain date, often the closing date of a sale or transfer. By clearly allocating responsibility for these accrued amounts, the clause ensures that there is no confusion or dispute over who must settle employee compensation liabilities, thereby protecting both parties from unexpected financial obligations.
Accrued Payroll. Accrued payroll payables that are recorded in Account 232.
Accrued Payroll. All accrued payroll owed to employees of the Business or other amount owed in relation to any employee benefit plans. ☐ (c) Employee-Related Expenses. All liabilities related to employees, including severance or costs associated with termination of employees.
Accrued Payroll. BMS shall retain all Liabilities related to payroll with respect to the Mead Johnson Transferred Employees, to the extent such Liabilities relate to service prior to the Separation Date, and shall pay such amounts on or after the Separation Date in accordance with its standard payroll practices. Effective as of the Separation Date, Mead Johnson shall establish its own payroll system for Mead Johnson Transferred Employees.
Accrued Payroll. Pfizer shall retain all Liabilities related to payroll with respect to the Company Transferred Employees, to the extent such Liabilities relate to service prior to the Plan Transition Date, and shall pay such amounts on or after the Plan Transition Date in accordance with its standard payroll practices. Effective as of the Plan Transition Date, the Company Group shall establish its own payroll system for Company Transferred Employees.
Accrued Payroll. SCHEDULE 2.4(d) is a complete and accurate list of Seller's accrued payroll for its Employees of the Business as of June 30, 1997, which payroll is reflected on the June 30, 1997, Financial Statements delivered to Buyer pursuant to Section 4.1(g), and which represent payment obligations actually incurred in the ordinary course of Seller's Business.
Accrued Payroll. Air Products shall retain all Liabilities related to payroll with respect to Versum Employees, to the extent such Liabilities relate to service prior to the Employee Transfer Date, and shall pay such amounts on or after the Employee Transfer Date in accordance with its standard payroll practices. Effective as of the Separation Time, Versum Group shall establish its own payroll system for Versum Employees.
Accrued Payroll. 13 (x) Accrued Paid Time Off . . . . . . . . . . . . . . . . 13 (y)
Accrued Payroll. 86 101 Short-term borrowings..................................... 296 231 Income taxes.............................................. 73 69 Current portion long-term debt............................ 566 294 Current portion capital leases............................ 87
Accrued Payroll. BONUSES, PROFIT SHARING AND COMMISSIONS. Southern Energy shall be responsible for all Liabilities relating to, arising out of, or attributable to payroll, bonuses, profit sharing and commissions accrued by employees of Southern Energy through the Distribution Date. Southern and Southern Energy shall agree on the manner and method of
Accrued Payroll. All reports and records relating to accrued payroll for the period of December 28, 2008 through December 31, 2008, together with a certificate executed by Seller’s President as to the truth, completeness and accuracy of said reports and records.