Employee Accruals definition

Employee Accruals means, with respect to any Facility, all Employee Benefits which have been or would have been earned, accrued and/or payable in accordance with existing employee benefit plans, or shall be or would be earned, accrued and/or payable in accordance with existing employee benefit plans, but which remain unpaid with respect to or for any period ending prior to the Effective Time.

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Employee Accruals has the meaning set forth in Section 1.03(b).

Employee Accruals means the amount the Companies would be required to pay under the Companies' employee benefit plans and applicable law, with respect to accrued and unused vacation days sick leave days and the like, if on the Closing Date the Companies were to terminate the employment of all of their employees without cause.

Examples of Employee Accruals in a sentence

The amount of accrued vacation and sick pay liabilities for employees associated with the Services (the "Service Employees") as of Closing, as set forth in Schedule 2.3.1 (the "Employee Accruals"); c.
MCA agrees not to pay the Retained Employees any Employee Accruals or bonuses outside the ordinary course of business.
Subject to the LTIP deferral regulations, payment typically is made during the first quarter of the year following the last year of the award cycle.
Prior to the Commencement Date, MCA shall provide a schedule of all MCA’s Employee Accruals for the Retained Employees as of the latest date for which such information is available, or March 3, 2023, which schedule will include the value of such Employee Accruals based on the then applicable wages of the Retained Employees.
Manager shall provide each Retained Employee credit under its policies and procedures for the amount of hours, at no cash value, such Retained Employee has with respect to Employee Accruals on the Commencement Date.
In addition, the Mariner Entities shall pay to the New Manager for each Facility an amount of cash equivalent to all Employee Accruals with respect to such Retained Facility at the Effective Time and, in connection therewith, the SNH Entities shall assume the Mariner Entities' obligation to pay the same.
Buyer will assume the liability of Seller for employee bonuses, vacation and sick pay due from Seller to the Transferred Employees (as that term is defined in Section 13)), but only in the amount and to those persons for which Buyer receives a credit as provided in Section 5(b) herein (the "Assumed Employee Accruals").
Listed on Section 3.16(e) of the Disclosure Schedule are the Employee Accruals with regard to each Employment Arrangement along with the aggregate of all Employee Accruals payable by the Company.
Section 3.16(e) of the Disclosure Schedule also sets forth the Company's policy as to earning and the subsequent use or forfeiture of Employee Accruals.
An amount equal to the total amount of the Employee Accruals shall be deemed paid by Karrington's assumption thereof at Closing; and b.

More Definitions of Employee Accruals

Employee Accruals means any and all amounts that may, on or after Closing, be due or payable to a DMI Group Employee pursuant to a non-disclosure agreement entered into between the Corporation and such employee in relation to the transaction contemplated hereunder.

Employee Accruals means all accrued unpaid benefits including, but not limited to, vacation, sick, and personal accruals, for the Employees of the Hotel.