Compliance with WARN Act. The Purchaser will not be subject to any Liability, nor will the Purchaser incur any costs or expenses of any kind in connection with claims of former employees of the Seller or its business, under the provisions of 29 U.S.C. §§ 2101-2109, as same may have been amended from time to time prior to the date hereof, and the regulations and rulings thereunder, and any state or local similar statute (the “WARN Act”). The Seller represents that it has complied with the WARN Act and its requirements in all material respects. If Seller determines it is required to send a notice under the WARN Act to any of Seller’s employees prior to Closing, then Seller will provide to Purchaser any information related to such notice, will send such notice, and will coordinate responses to inquiries and requests by such employees, and Seller will indemnify Purchaser against any and all claims and adverse financial consequences related to or arising from said terminations.
Appears in 2 contracts
Sources: Asset Sale and Purchase Agreement (GTJ REIT, Inc.), Asset Sale and Purchase Agreement (GTJ REIT, Inc.)