Employee Benefit Payables definition

Employee Benefit Payables as defined in Section 10.2.18
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Employee Benefit Payables means gross Employee wages and salaries, incentive compensation, bonuses, commissions, workers’ compensation, sick pay, dues, vacation, pension and retirement payments (including any matching, profit sharing or other employer contributions to any defined contribution pension plan, any minimum funding contributions to any defined benefit pension plan and any employer contributions to any multiemployer plan), deferred compensation, remuneration in any other form (including any type of employee benefit or insurance), and payroll taxes payable on any such Employee compensation or remuneration.
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Employee Benefit Payables gross Employee wages and salaries, incentive compensation, bonuses (specifically excluding bonus compensation for the 20[__] Fiscal Year, which is addressed in Section 10.2.19), commissions, workers’ compensation, sick pay, dues, vacation, pension and retirement payments (including any matching, profit sharing or other employer contributions to any defined contribution pension plan, any minimum funding contributions to any defined benefit pension plan and any employer contributions to any multiemployer plan), deferred compensation, remuneration in any other form (including any type of employee benefit or insurance), and payroll taxes payable on any such Employee compensation or remuneration. For each Hotel, Purchaser shall receive a credit at Closing for the value of the Employee Benefit Payables (except to the extent Seller has made (directly or indirectly) payment therefor to Manager prior to Closing), and shall assume all liability and responsibility for the Employee Benefit Payables. Purchaser shall assume all liability and be solely responsible for all Employee related liabilities and obligations attributable to the period from and after the Apportionment Time and shall indemnify Seller for any such liability pursuant to section 7.5.
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Examples of Employee Benefit Payables in a sentence

  • For each Hotel, Purchaser shall receive a credit at Closing for the value of the Employee Benefit Payables (except to the extent Seller has made (directly or indirectly) payment therefor to Manager prior to Closing), and shall assume all liability and responsibility for the Employee Benefit Payables.

  • The Closing Assumed Lease Payables, the Real Estate Leases, the Employee Benefit Payables and the Assumed Liabilities shall not constitute Closing Date Liabilities or Listed Liabilities.

  • Except as otherwise expressly provided in this Agreement, (i) Seller shall have all liability and responsibility for the Employee Benefit Payables with respect to the employment of the Employees by Manager prior to the Closing Date, and (ii) Purchaser shall have all liability and responsibility for the Employee Benefit Payables with respect to the employment of any Employees hired by Purchaser or any of its managers from and after the Closing Date.