Common use of PTO Pay Clause in Contracts

PTO Pay. The Sellers shall credit to the Purchasers on the Closing Statement, as of the Closing Date for all earned and accrued paid vacation, sick or personal pay or other paid timeoff of all Transitioned Employees being conveyed on the Closing Date (collectively, “PTO”). The Sellers shall deliver to the Purchasers a list of PTO of Transitioned Employees employed at a Facility or employed at a regional corporate level within five (5) days prior to the Closing for such Facility (the “PTO List”), which shall include all PTO for Transitioned Employees of the applicable Facilities (i) as of the most recent pay period preceding the Closing Date and (ii) projected PTO as of the Closing Date, which shall assume no further vacation or sick days for all Transitioned Employees except for known scheduled vacation. The PTO List shall list all PTO of all Transitioned Employees, including the method of calculation of the PTO and the dollar value thereof to the Transitioned Employees to whom the amounts are potentially owed. The Purchasers shall thereafter be responsible for all such PTO to all such Transitioned Employees to the extent of the credit received from the Sellers at the Closing, and the amount of such PTO shall be subject to the post-Closing reconciliation process described in Section 9.6 below.

PTO Pay. The Sellers Seller shall credit to the Purchasers Purchaser on the Closing StatementStatement (as defined in Section 10.1(a)), as of the each Closing Date Date, for all earned and accrued paid vacation, sick or personal pay or other paid timeoff time off of all Transitioned Employees (as defined in Section 5.6) for Facilities being conveyed on the such Closing Date (collectively, “"PTO”"). The Sellers Seller shall deliver to the Purchasers Purchaser a list schedule of PTO of Transitioned Employees employed at a Facility or employed at a regional corporate level within five (5) days prior to the Closing for such Facility (the “PTO List”)Facility, which schedule shall include all PTO for Transitioned Employees of the applicable Facilities (i) as of the most recent pay period preceding the Closing Date Date, and (ii) projected PTO as of the Closing Date, which shall assume no further vacation or sick days for all Transitioned Employees except for known scheduled vacation. The PTO List schedule shall list all PTO of all Transitioned Employees, including the method of calculation of the PTO and the dollar value thereof to the Transitioned Employees to whom the amounts are potentially owed. The Purchasers Purchaser shall thereafter be responsible for all such PTO to all such Transitioned Employees to the extent of the credit received from the Sellers Seller at the Closing, and the amount of such PTO shall be subject to the post-Closing closing reconciliation process described in Section 9.6 10.5 below.. 4.13

PTO Pay. The Sellers Seller shall credit to the Purchasers Purchaser on the Closing StatementStatement (as defined in Section 10.1(a)), as of the each Closing Date Date, for all earned and accrued paid vacation, sick or personal pay or other paid timeoff time off of all Transitioned Employees (as defined in Section 5.6) for Facilities being conveyed on the such Closing Date (collectively, “"PTO”"). The Sellers Seller shall deliver to the Purchasers Purchaser a list schedule of PTO of Transitioned Employees employed at a Facility or employed at a regional corporate level within five (5) days prior to the Closing for such Facility (the “PTO List”)Facility, which schedule shall include all PTO for Transitioned Employees of the applicable Facilities (i) as of the most recent pay period preceding the Closing Date Date, and (ii) projected PTO as of the Closing Date, which shall assume no further vacation or sick days for all Transitioned Employees except for known scheduled vacation. The PTO List schedule shall list all PTO of all Transitioned Employees, including the method of calculation of the PTO and the dollar value thereof to the Transitioned Employees to whom the amounts are potentially owed. The Purchasers Purchaser shall thereafter be responsible for all such PTO to all such Transitioned Employees to the extent of the credit received from the Sellers Seller at the Closing, and the amount of such PTO shall be subject to the post-Closing closing reconciliation process described in Section 9.6 10.5 below.