Common use of Offer to Hire Clause in Contracts

Offer to Hire. Effective as of the Closing Date, Buyer shall offer to hire, in a comparable position and at the same rate of pay, each active Business Employee who is primarily involved in the conduct of the Business on the day immediately prior to the Closing Date, and all those inactive Business Employees who are on approved leave on the Closing Date because of jury duty, family or medical leave, sick leave, vacation or military duty or who are on long term disability under Seller's long term disability policy but excluding those Business Employees listed on Section 6.17 of the Company Disclosure Schedule entitled "Non-Hired Business Employees." Unless a Business Employee declines Buyer's offer of employment, each of the Business Employees shall be deemed to have accepted Buyer's offer of employment and shall become an employee of Buyer as of the Closing Date. Buyer shall be responsible for any obligations or liabilities to the Business Employees under the Worker Adjustment and Retraining Notification Act and any similar state or local "plant closing" law ("WARN") to the extent WARN thresholds are exceeded as a result of action taken by Buyer on or after the Closing Date with respect to the Business Employees. Seller shall be responsible for any obligations or liabilities to the Business Employees under WARN as a result of actions taken by Seller prior to the Closing Date.

Appears in 1 contract

Samples: Asset Purchase Agreement (New Hope Investments Inc)

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Offer to Hire. Effective as of On the Closing Date, Buyer shall make an offer of employment to hireeach Employee, including any employee hired since September 26, 2002. Each such offer of employment will (a) be effective as of the Closing, (b) provide for employment at such Employee's present employment location, (c) be at a salary or hourly wage rate that is no less than the salary or hourly wage rate of each such Employee in a comparable position and at effect as of the date hereof or as the same rate of pay, each active Business Employee who is primarily involved may have been increased since the date hereof in the conduct Ordinary Course of Business, (d) provide for employee benefits for the Business period beginning on the day Closing Date and ending no earlier than December 31, 2002 that are substantially comparable in the aggregate to the employee benefits available to such Employee immediately prior to the Closing DateDate under the Employee Plans (or, and all those inactive Business Employees who are on approved leave on in the case of Transferred Union Employees, provide for the period from the Closing Date because of jury duty, family or medical leave, sick leave, vacation or military duty or who are on long term disability under Seller's long term disability policy but excluding those Business Employees listed on Section 6.17 to the expiration date of the Company Disclosure Schedule entitled "Non-Hired Business Employees." applicable CBA employee benefits in accordance with the applicable CBA) and (e) be for a position with Buyer comparable to such Employee's position with Seller immediately before the Closing. Unless a Business an Employee declines Buyer's offer of employment, each of the Business Employees shall be deemed to have accepted Buyer's offer of employment and shall become an employee of Buyer as of the Closing Date. The Employees who accept (or are deemed to accept) employment with Buyer shall be referred to herein as "Transferred Employees." Seller shall be solely responsible for any obligations or liabilities the payment of all wages and other base compensation due to the Business all Employees under the Worker Adjustment and Retraining Notification Act and any similar state or local "plant closing" law ("WARN") to the extent WARN thresholds are exceeded as a result of action taken by Buyer on or after the Closing Date with respect to their service as such through the Business Employees. Seller shall be responsible for any obligations or liabilities to the Business Employees under WARN as a result close of actions taken by Seller prior to business on the Closing Date.

Appears in 1 contract

Samples: Asset Purchase Agreement (Curtiss Wright Corp)

Offer to Hire. Effective as of the Closing Date, Buyer Purchaser shall (i) offer to hire, in a comparable position and at the same rate of pay, each active Business Employee who is primarily involved in the conduct of the Business on the day immediately prior to the Closing Date, Date and all those inactive Business Employees who are on approved leave on the Closing Date because of jury duty, family or medical leave, sick leave, vacation or military duty or who are on long term disability under Seller(ii) pay and discharge all severance obligations (including any WARN (as defined below) liability triggered as a result of Purchaser's long term disability policy but excluding those Business Employees listed on Section 6.17 of the Company Disclosure Schedule entitled "Non-Hired failure to offer employment to such Business Employees." Unless a Business Employee declines Buyer's offer of employment, each of ) owed to the Business Employees shall be deemed set forth in the preceding sentence to have accepted Buyer's which Purchaser does not offer of employment and shall become an employee of Buyer as of the Closing Dateemployment. Buyer Purchaser shall be responsible for any obligations or liabilities Liabilities to the Business Employees under the Worker Adjustment and Retraining Notification Act and any similar state or local "plant closing" law ("WARN") to the extent WARN thresholds are exceeded as a result of action actions taken by Buyer the Purchaser on or after the Closing Date with respect to the Business Employees. Seller The Sellers shall be responsible for any obligations or liabilities Liabilities to the Business Employees under WARN as a result of actions taken by Seller the Sellers prior to the Closing Date.

Appears in 1 contract

Samples: Asset Purchase Agreement (G & G Retail Inc)

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Offer to Hire. Effective as of On the Closing Date, Buyer shall make an offer of employment to hireeach Employee, including any employee hired since September 26, 2002. Each such offer of employment will (a) be effective as of the Closing, (b) provide for employment at such Employee's present employment location, (c) be at a salary or hourly wage rate that is no less than the salary or hourly wage rate of each such Employee in a comparable position and at effect as of the date hereof or as the same rate of pay, each active Business Employee who is primarily involved may have been increased since the date hereof in the conduct Ordinary Course of Business, (d) provide for employee benefits for the Business period beginning on the day Closing Date and ending no earlier than December 31, 2002 that are substantially comparable in the aggregate to the employee benefits available to such Employee immediately prior to the Closing DateDate under the Employee Plans (or, and all those inactive Business Employees who are on approved leave on in the case of Transferred Union Employees, provide for the period from the Closing Date because of jury duty, family or medical leave, sick leave, vacation or military duty or who are on long term disability under Seller's long term disability policy but excluding those Business Employees listed on Section 6.17 to the expiration date of the Company Disclosure Schedule entitled "Non-Hired Business Employees." applicable CBA employee benefits in accordance with the applicable CBA) and (e) be for a position with Buyer comparable to such Employee's position with Seller immediately before the Closing. Unless a Business an Employee declines Buyer's offer of employment, each of the Business Employees shall be deemed to have accepted Buyer's offer of employment and shall become an employee of Buyer as of the Closing Date. The Employees who accept (or are deemed to accept) employment with Buyer shall be referred to herein as "Transferred Employees." Seller shall be solely responsible for any obligations or liabilities the payment of all wages and other base compensation due to the Business all Employees under the Worker Adjustment and Retraining Notification Act and any similar state or local "plant closing" law ("WARN") to the extent WARN thresholds are exceeded as a result of action taken by Buyer on or after the Closing Date with respect to their service as such through the Business Employees. Seller shall be responsible for any obligations or liabilities to the Business Employees under WARN as a result close of actions taken by Seller prior to business on the Closing Date.. 6.2

Appears in 1 contract

Samples: Asset Purchase Agreement (Washington Group International Inc)

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