Common use of Plan Payments Clause in Contracts

Plan Payments. Seller will with respect to each Transferred Salaried Employee pay all costs, expenses, benefits and claims incurred prior to the Applicable Employment Date in respect of such Transferred Salaried Employee under its benefit plans and will pay all accrued payroll up to the Closing Time.

Appears in 1 contract

Sources: Asset Purchase Agreement (Gencorp Inc)

Plan Payments. Seller will with respect to each Transferred ------------- Salaried Employee pay all costs, expenses, benefits and claims incurred prior to the Applicable Employment Date in respect of such Transferred Salaried Employee under its benefit plans and will pay all accrued payroll up to the Closing Time.

Appears in 1 contract

Sources: Asset Purchase Agreement (Cambridge Industries Inc /De)