Common use of Compliance with WARN Act Clause in Contracts

Compliance with WARN Act. In reliance on the truth and accuracy of the Company’s representations and warranties in Section 2.02(y), Purchaser agrees that it will not, and will cause the Company and the Subsidiaries to not, cause any of the employees of the Company and the Subsidiaries to suffer an “employment loss” for purposes of the WARN Act if such employment loss would create any liability for Sellers in their capacity as such under the WARN Act. For avoidance of doubt, no past or current employee of the Company or any Subsidiary, nor any of such employee’s heirs, personal representatives, administrators, successors or assigns, shall be entitled to rely on, be entitled to assert any claim with respect to, or otherwise have any third-party beneficiary rights with respect to, Purchaser’s covenants in this Section 5.02 or Purchaser’s representations and warranties in Section 2.01(f).

Appears in 1 contract

Sources: Securities Purchase Agreement (Eastern Co)

Compliance with WARN Act. In reliance on the truth and accuracy of the Company’s Selling Parties' representations and warranties set forth in Section 2.02(y3.12(f), Purchaser Buyer agrees that it will not, and will cause the Company and the Subsidiaries to notAcquired Companies not to, cause any of the employees of the Company and the Subsidiaries Acquired Companies to suffer an "employment loss" for purposes of the WARN Act if such employment loss would create any liability for Sellers any of the Selling Parties in their capacity capacities as such under the WARN Act. For avoidance of doubt, no past or current employee of the Company or Acquired Companies (excluding any SubsidiarySeller Owner), nor any of such employee’s 's heirs, personal representatives, administrators, successors or assigns, shall be entitled to rely on, be entitled to assert any claim with respect to, or otherwise have any third-party beneficiary rights with respect to, Purchaser’s Buyer's covenants in this Section 5.02 or Purchaser’s representations and warranties in Section 2.01(f)9.02.

Appears in 1 contract

Sources: Stock Purchase Agreement (Eastern Co)