SALTS definition
Examples of SALTS in a sentence
No insurance carrier has given written notice of its intention to discontinue any insurance coverage provided under any such policy (as it applies to any Company or SALTS).
Such rights of observation and participation shall specifically include the right of Seller and its representatives to have access to the facilities and records of the Companies and SALTS where the Companies' and SALTS's records are located during normal business hours (or as the parties may otherwise agree).
The only Benefit Plans that cover employees of any one or more of the Companies or SALTS as well as employees of Seller (or subsidiaries of Seller) are the: (a) EnviroSource, Inc.
No notice has been received of any Tax deficiency outstanding, proposed or assessed against or allocable to IMSAMET, any Subsidiary or SALTS, and there is no waiver of any statute of limitations on the assessment or collection of any such Tax.
For purposes of this Agreement, the out-of-pocket cost directly or indirectly to IMSAMET to bring the Companies and SALTS into compliance with Environmental Laws and the Losses directly or indirectly incurred by Purchaser as a result of breaches of this Section 3.01(k), up to $500,000 in the aggregate, is referred to as the "INITIAL ENVIRONMENTAL LIABILITY".
Benefits accrued for employees of any of the Companies or SALTS under any of the Seller Benefit Plans through the Closing Date shall be paid to such employees in accordance with the terms of the Seller Benefit Plans, as applicable.
Neither the Companies, SALTS nor Purchaser will incur any liability with respect any of the Seller Benefit Plans or any other Benefit Plan (excepting Company Benefit Plans) covering employees of Seller or any other entity that would be treated as a single employer under Code Section 414 with one or more of the Companies (prior to Closing).
All Taxes that the Companies and SALTS were, or will be, required by law to pay, withhold, deposit or collect as of the Closing Date have been, or will be, duly paid, withheld, deposited or collected and, to the extent due, have been, or will be, paid to the relevant taxing authority.
Neither the Companies, SALTS nor Seller is in default with respect to any provisions of any such policy (as it applies to any Company or SALTS) nor, to the best knowledge of IMSAMET and Seller, has any of them failed to give notice or present any claim of any Company or SALTS thereunder in a due and timely fashion.
IMSAMET has no other equity interest in any other entity except for its 50% partnership interest in SALTS.