Transferred definition
Examples of Transferred in a sentence
This license shall automatically terminate with respect to any Transferred Subsidiary upon any direct or indirect change of Control of such Transferred Subsidiary or any sale of all or substantially all of the Business by any Transferred Subsidiary.
Seller Affiliate shall, as of the Closing Date, transfer and assign to Purchaser Affiliate all existing direct insurance (Direktversicherungen) and, if any, indirect pension insurance (Rückdeckungsversicherungen) Contracts maintained in respect of Germany Transferred Employees for company pension purposes, together with the Seller Affiliate’s policyholder status (Versicherungsnehmerstellung).
The Transferred Employees shall, as of the Closing Date, cease to accrue further benefits under the Excluded Benefit Plans and the Excluded Benefit Plan Contracts.
All company pension entitlements of the Germany Transferred Employees shall transfer to Purchaser Affiliate by operation of Law.
The Operator agrees that it shall cause its Affiliates (including OpCo) to continue to provide the Transferred Employees whose employment is not governed by a collective bargaining agreement, terms and conditions of employment that are substantially similar in the aggregate to those which applied to such Transferred Employees immediately prior to the Closing Date (the “Employment Terms”).