Common use of Transfer Time Clause in Contracts

Transfer Time. All Transferred Employees shall become employees of Buyer as of 12:01 a.m., Central Time, on the Closing Date and except as otherwise provided herein, at such time, Buyer shall assume and be responsible for payment of all salaries and benefits and all other costs and liabilities relating to the Transferred Employees, except that with regard to a Non-Union Employee on Leave, such obligations shall not attach until the Non-Union Employee on Leave commences employment with Buyer.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Giant Industries Inc), Asset Purchase Agreement (Tesoro Petroleum Corp /New/)

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Transfer Time. All Transferred Employees shall become employees of Buyer as of 12:01 a.m., Central Time, on the Closing Date and except as otherwise provided herein, at such time, Buyer shall assume and be responsible for payment of all salaries and benefits and all other costs and liabilities relating to the Transferred Employees, Employees except that with regard to a Non-Union an Employee on Leave, such obligations shall not attach until the Non-Union Employee on Leave commences employment with Buyer.

Appears in 1 contract

Samples: Asset Purchase Agreement (Tesoro Petroleum Corp /New/)

Transfer Time. All of the Transferred Employees shall become employees of Buyer as of 12:01 a.m., Central Time, on the Closing Date and except as otherwise provided herein, at such time, Buyer shall assume and be responsible for payment of all salaries and benefits and all other costs and liabilities relating to the Transferred Employees, except that with regard to a Non-Union Employee on Leave, such obligations shall not attach until the Non-Union Employee on Leave commences employment with Buyer.

Appears in 1 contract

Samples: Asset Purchase Agreement (Tosco Corp)

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Transfer Time. All Transferred Employees shall become employees of Buyer as of 12:01 a.m., Central Time, on the Closing Date Date, and except as otherwise provided herein, at such time, Buyer shall assume and be responsible for payment of all salaries and benefits and all other costs and liabilities relating to the Transferred Employees, except that with regard to a Non-Union Employee on Leave or a Non-Refinery Union Employee on Leave, -37- 49 such obligations shall not attach until the Non-Union Employee on Leave or the Non-Refinery Union Employee on Leave commences employment with Buyer.

Appears in 1 contract

Samples: Asset Purchase Agreement (Tesoro Petroleum Corp /New/)

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