Notification and Termination of Employees Sample Clauses

Notification and Termination of Employees. At a mutually agreed upon time after this Agreement is executed that is not more than 3 days prior to the Closing Date, the Contributor and the Operating Partnership shall jointly announce the Agreement to the Contributor’s employees, and shall cooperate so that the Contributor’s notices of termination and any offers of employment by the Operating Partnership are delivered simultaneously so that appropriate management representatives may explain the termination and any offers of employment to the employees. As of the Closing Date, the Contributor will terminate all employees and will pay to all employees all wages, salaries, commissions, bonuses, benefit plan contributions, and other compensation. The Operating Partnership may, in its discretion, re-employ some or all of such employees on the day after the Closing Date.
Sample 1Sample 2Sample 3See All (15)
AutoNDA by SimpleDocs
Notification and Termination of Employees. At a mutually agreed upon time after this Agreement is executed that is not more than 3 days prior to the Closing Date, the Contributor and the Operating Partnership shall jointly announce the Agreement to the Contributor’s employees, and shall cooperate so that the Contributor’s notices of termination and any offers of employment by the Operating Partnership are delivered simultaneously so that appropriate management representatives may explain the termination and any offers of employment to the employees. As of the Closing Date, the Contributor will terminate all employees and will pay to all employees all earned wages, salaries, commissions, bonuses, benefit plan contributions, and other compensation through the date of termination. The Operating Partnership may, in its discretion, re-employ some or all of such employees on the day after the Closing Date. If the Operating Partnership retains Ambridge as the management company for the Property, it shall retain and rehire all existing employees of the Property.
Sample 1Sample 2
Notification and Termination of Employees. At a mutually agreed upon time after this Agreement is executed that is not more than 3 days prior to the Closing Date, Seller and Buyer shall jointly announce the Agreement to Seller’s employees, and shall cooperate so that Seller’s notices of termination and any offers of employment by Buyer are delivered simultaneously so that appropriate management representatives may explain the termination and any offers of employment to the employees. As of the Closing Date, Seller will terminate all employees and will pay to all employees all wages, salaries, commissions, bonuses, benefit plan contributions, and other compensation. Buyer may, in its discretion, re-employ some or all of such employees on the day after the Closing Date.
Sample 1
Notification and Termination of Employees. At a mutually agreed time after this Agreement is executed that is not more than 3 days prior to the Closing Date, the Contributor and the Operating Partnership shall jointly announce the Agreement to the Contributor’s employees, and shall cooperate so that the Contributor’s notices of termination and any offers of employment by the Operating Partnership are delivered 19 ​
Sample 1
Notification and Termination of Employees. At a mutually agreed upon time after this Agreement is executed that is not more than 3 days prior to the Closing Date, Seller and Buyer shall jointly announce the Agreement to Seller’s employees, and shall cooperate so that Seller’s notices of termination and any offers of employment by Buyer are delivered simultaneously so that appropriate management representatives may explain the termination and any offers of employment to the employees. As of the Closing Date, Seller will terminate all employees and will pay to all employees all wages, salaries, commissions, bonuses, benefit plan contributions, and other compensation. Buyer may, in its discretion, re-employ some or all of such employees as of the Closing Date; provided however, Buyer must rehire a sufficient number of such employees to avoid a violation of the Worker Adjustment and Retraining Notification Act of 1988 (the “WARN Act”), and Buyer hereby indemnifies Seller against any loss or damage arising from a violation of the WARN Act triggered by Buyer’s rehiring practices.
Sample 1

Related to Notification and Termination of Employees

  • Resignation and Termination An Authenticating Agent may resign by notifying the Indenture Trustee and the Owner Trustee. The Indenture Trustee may terminate the agency of an Authenticating Agent by notifying the Authenticating Agent and the Owner Trustee.

  • Duration and Termination This Agreement shall become effective with respect to each Fund as of the corresponding effective date indicated in Appendix A and, unless sooner terminated with respect to a Fund as provided herein, shall continue in effect for a period of two years as to such Fund. Thereafter, if not terminated, this Agreement shall continue in effect with respect to the Fund for successive periods of 12 months, provided such continuance is specifically approved at least annually by both (a) the vote of a majority of the Trust’s Board of Trustees or the vote of a majority of the outstanding voting securities of the Fund at the time outstanding and entitled to vote, and (b) the vote of a majority of the Trustees who are not parties to this Agreement or interested persons of any party to this Agreement, cast in person at a meeting called for the purpose of voting on such approval. Notwithstanding the foregoing, this Agreement may be terminated by the Trust at any time as to a Fund, without the payment of any penalty, upon giving the Advisor 60 days’ notice (which notice may be waived by the Advisor), provided that such termination by the Trust shall be directed or approved (x) by the vote of a majority of the Trustees of the Trust in office at the time or by the vote of the holders of a majority of the voting securities of the Fund at the time outstanding and entitled to vote, or (y) by the Advisor on 60 days’ written notice (which notice may be waived by the Trust). This Agreement will also immediately terminate in the event of its assignment. (As used in this Agreement, the terms “majority of the outstanding voting securities,” “interested person” and “assignment” shall have the same meanings of such terms in the 1940 Act.)

Time is Money Join Law Insider Premium to draft better contracts faster.