Accrued Vacation Liability definition

Accrued Vacation Liability means the obligation to be assumed by the Purchaser to provide each Continuing Employee with credit for vacation, sick and/or personal days that he or she accrued but did not use during his or her employment with Seller. This obligation shall include the duty to compensate each Continuing Employee for wages during such vacation, sick and/or personal days that he or she uses during the scope of his or her employment with the Purchaser, and to compensate such Continuing Employee for wages for such vacation, sick and/or personal days that remain unused upon the termination of such Continuing Employee's employment with the Purchaser. Wage compensation shall be based for vacation, sick and/or personal days for the period subsequent to the Closing Date on such Continuing Employee's base salary rate with the Purchaser at the time of use, or for vacation, sick and/or personal days for the period prior to the Closing Date on such Continuing Employee's base salary rate paid by Seller at the Closing. Schedule 4.19 sets forth the aggregate accrued but unused vacation, sick and personal days for the employees of Seller as of the date of this Agreement.
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Accrued Vacation Liability is defined in Section 2.5(a).
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Accrued Vacation Liability. 1.03 "Affiliate" 6.09(d) "Agreement" Recitals "Assets" 1.01 "Assignment of Purchase Option" 6.20 "Assumed Contracts" 1.01(f) "Assumed Liabilities" 1.03 "Audited Financial Statements" 4.06 "Average Stock Price" 2.01(b)(ii) "Aware" 12.13 "Xxxx of Sale" 3.02 "Business" Recitals "Buyer" Recitals "Buyer Disclosure Schedule" Article V "Buyer Indemnified Parties" 10.02 "Buyer Related Documents" 10.03(a) "Buyer Representatives" 6.02 "Buyer's Basket" 10.05(d) "Buyer's Receivables" 6.16 "Cash Consideration" 2.01(a) "Chicago Facility" 6.20 "Chicago Lease" 6.20 "CHRW Shares" 2.01(b)(i) "Claim" 10.04(a) "Closing" 3.01 "Closing Agreements" 3.02 "Closing Date" 3.01 "Code" 2.03 "Continuation Coverage" 11.04 "Corrective Action Costs" 10.02(f) "Damage Award" 10.06(b) "Disclosed Contract" 4.14(a) "Disclosure Schedule" Article IV "Employee Noncompetition Agreements" 1.01(f)
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Examples of Accrued Vacation Liability in a sentence

  • The FLSA requires that records be kept for a minimum of 3 years.2 While agricultural employment generally is exempt from the requirement that workers be paid overtime pay at a rate of not less than one and one-half times their regular rate of pay after 40 hours of work in a workweek, the exemption can be lost.

  • The District has an Accrued Vacation Liability at April 30, 2017.

  • Seller's portion of the 1997 Accrued Vacation Liability shall be determined by the product of the 1997 Vacation Liability multiplied by a fraction, the numerator of which is the number of days elapsed during calendar year 1997 as of the day immediately preceding the Closing Date and the denominator of which is 365 ("Seller's Vacation Portion").

  • In case of house building, there is a distinct process, like this- when a Rajbanshi house is built one calls a ‘Panjiar’(a Rajbanshi pandit) to see if the land would be suitable for the purpose.

  • Seller shall retain the remaining 50 percent of the Accrued Vacation Liability ("Seller's Portion").

  • Former Ericsson Employees will be given the option to (i) receive their Accrued Vacation Liability in a single payment prior to becoming employed by Buyer or (ii) roll over their Accrued Vacation Liability to Buyer.

  • A $66,105 and $33,565 Accrued Vacation Liability has been recorded in the governmental and business -type activities , respectively, along with a $27,266 decrease in Accrued Vacation in the governmental activities.

  • In the event that a Former Ericsson Employee chooses to roll over his or her Accrued Vacation Liability to Buyer, all vacations taken by such Former Ericsson Employee during the period from the Closing Date to June 30, 2001 shall be attributed to (i) vacation earned under Buyer’s vacation policy and (ii) the Accrued Vacation Liability assumed by Buyer (the "Buyer’s Portion") pursuant to this Section 2.5(a).

  • An $89,815 and $15,619 Accrued Vacation Liability has been recorded in the governmental and business -type activities , respectively, along with a $10,117 change in Accrued Vacation in the governmental activities.

  • Compensated absences (Accrued Vacation Liability on Financial Statements) are absences for which employees will be paid, such as vacation.


More Definitions of Accrued Vacation Liability

Accrued Vacation Liability means the liability as of the Closing Date of Parent or Seller, as the case may be, pursuant to their respective employment policies up to a maximum of 10 days for any and all accrued vacation of the Transferred Employees.
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Accrued Vacation Liability means the Accrued Vacation Liability set forth on the September 2010 Balance Sheet. Accrued Vacation Liability shall be adjusted to reflect the balance as of the Closing Date for the purposes of Section 2.3(c).
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Accrued Vacation Liability means, as of the Calculation Time, the liability associated with the value of all accrued, but unused vacation and other paid time off of the Continuing Business Employees, together with the employer portion of any employment, payroll, withholding or other Taxes associated with such amounts, all calculated in accordance with the Accounting Methodologies.
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Accrued Vacation Liability means an amount equal to (a) $1,755,706, (b) multiplied by the number of days remaining in calendar year 2006 after the Closing Date, (c) divided by 365; provided that, in the event of the Group A Closing, the amount set forth in clause (a) shall be $1,401,961; provided further that, in the event of the WVTM Closing, the amount set forth in clause (a) shall be $353,745. In the event that the Closing, the Group A Closing or the WVTM Closing occurs in calendar year 2007, the Accrued Vacation Liability shall be computed for calendar year 2007 in the same manner as computed for calendar year 2006 and using the appropriate amounts in respect of clause (a) for calendar year 2007 that are determined in accordance with the methodology used to determine the amounts set forth above in clause (a) for calendar year 2006.
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Related to Accrued Vacation Liability

  • Accrued Liabilities shall include a pro rata contribution to each Employee Benefit Plan or with respect to each such obligation or arrangement for that portion of a plan year or other applicable period which commences prior to, and ends after, the Closing Date, and Accrued Liabilities for any portion of a plan year or other applicable period shall be determined by multiplying the liability for the entire such year or period by a fraction, the numerator of which is the number of days preceding the Closing Date in such year or period and the denominator of which is the number of days in such year or period, as the case may be.

  • Employee Liabilities means all claims, actions, proceedings, orders, demands, complaints, investigations (save for any claims for personal injury which are covered by insurance) and any award, compensation, damages, tribunal awards, fine, loss, order, penalty, disbursement, payment made by way of settlement and costs, expenses and legal costs reasonably incurred in connection with a claim or investigation including in relation to the following: redundancy payments including contractual or enhanced redundancy costs, termination costs and notice payments; unfair, wrongful or constructive dismissal compensation; compensation for discrimination on grounds of sex, race, disability, age, religion or belief, gender reassignment, marriage or civil partnership, pregnancy and maternity or sexual orientation or claims for equal pay; compensation for less favourable treatment of part-time workers or fixed term employees; outstanding debts and unlawful deduction of wages including any PAYE and National Insurance Contributions in relation to payments made by the Customer or the Replacement Supplier to a Transferring Supplier Employee which would have been payable by the Supplier or the Sub-Contractor if such payment should have been made prior to the Service Transfer Date; claims whether in tort, contract or statute or otherwise; any investigation by the Equality and Human Rights Commission or other enforcement, regulatory or supervisory body and of implementing any requirements which may arise from such investigation;

  • converted employment and support allowance means an employment and support allowance which is not income-related and to which a person is entitled as a result of a conversion decision within the meaning of the Employment and Support Allowance (Existing Awards) Regulations 2008;

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Compensation and Benefit Plans has the meaning set forth in Section 5.03(m)(i).

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Employee Liability Information means the information which a transferor is obliged to notify to a transferee pursuant to Regulation 11(2) of TUPE regarding any person employed by him who is assigned to the organised grouping of resources or employees which is the subject of a relevant transfer and also such employees as fall within Regulation 11(4) of TUPE;

  • Employment Liabilities means all claims, demands, actions, proceedings, damages, compensation, tribunal awards, fines, costs (including but not limited to reasonable legal costs), expenses and all other liabilities whatsoever;

  • Earned Compensation means any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior to the date on which the Employment Period ends pursuant to Section 3(a) (but excluding any salary and interest accrued thereon payment of which has been deferred).

  • Vacation means annual vacation with pay.

  • extended reduction (qualifying contributory benefits means a reduction under this scheme for which a person is eligible in accordance with paragraph 88 or 95;

  • contributory employment and support allowance means an allowance under Part 1 of the Welfare Reform Act 2007 as amended by the provisions of Schedule 3, and Part 1 of Schedule 14, to the Welfare Reform Act 2012 that remove references to an income-related allowance and a contributory allowance under Part 1 of the Welfare Reform Act 2007 as that Part has effect apart from those provisions;

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Current Sick Leave means those days of sick leave for the current contract year, which leave is granted at the rate of one day of sick leave per month worked, or major part thereof.

  • Schedule of Retained Causes of Action means the schedule of certain Causes of Action of the Debtors that are not released, waived, or transferred pursuant to the Plan, as the same may be amended, modified, or supplemented from time to time.

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.

  • Seller Benefit Plans has the meaning set forth in Section 4.10(a).

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Accrued Amounts means:

  • Extended benefits means benefits, including benefits payable to federal civilian employees and to ex-servicemen under 5 U.S.C. Chapter 85, payable to an individual under the provisions of this section for weeks of unemployment in his eligibility period.

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

  • Accrued Expenses means the accrued and unpaid expenses appearing as a Liability on the Preliminary Closing Statement or the Final Closing Statement.

  • Seller Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Seller or any of its Subsidiaries or with respect to which Seller or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.