Business CBA definition
Examples of Business CBA in a sentence
Buyer shall, or shall cause its applicable Affiliates to, recognize all service of the Transferred Employees who are not represented by a labor union or otherwise covered by the terms of a Business CBA with the Business, the Acquired Entities, Sellers and all of their current or former Affiliates that are recognized under any Seller Plan applicable to service-related or measured entitlements under applicable Law (collectively, the “Service Credits”).
Seller is and for the last twelve months has been in compliance with each Business CBA in all material respects.
For the avoidance of doubt, in no event shall Seller or any of its Affiliates have any obligation or liability for pension benefits under any Business CBA, nor shall the terms of any such Business CBA increase any benefit under any Seller Pension Plan to any person.
Buyer shall assume the rights and obligations of Seller pursuant to the terms of each Business CBA with respect to pension benefits.
To the extent required under a Business CBA, Buyer or an Acquired Entity shall continue participation in and shall assume or retain all obligations and liabilities with respect to the multiemployer plans (within the meaning of Section 3(37) of ERISA) described in such Business CBA, regardless of whether such obligations or liabilities arise or relate to events occurring prior to, on, or after the Closing.
Between the date this Agreement is executed and the Closing, Seller shall update Section 3.19(a) of the Seller Disclosure Schedules to add any amendments to or memoranda of agreement or understanding or renewals of the Collective Bargaining Agreement disclosed as of the execution of this Agreement on Section 3.19(a) of the Seller Disclosure Schedules (the “Business CBA”), but not to add additional Collective Bargaining Agreements that do not relate to the Business CBA.