Worker Adjustment and Retraining Notification Act. ("WARN Act"). The parties agree to consult with each other on the need for and timing of notices pursuant to the WARN Act which applies generally to businesses with the equivalent of 100 or more full-time employees and requires employers to give at least 60 days' advance notice of defined types of employment loss. The parties agree that the WARN Act does not apply to the Company prior to consummation of the Merger but may or may not apply to the Surviving Corporation following consummation of the Merger. However, pending the Closing, the Company agrees, as agent for the Parent, upon the prior written request of Parent, to give notices to its employees when requested by the Parent in order to comply with the applicable provisions of the WARN Act. The Parent will be responsible for the form of such notices and for ensuring that such notices comply with the WARN Act. No such notice will provide for a termination date prior to the Effective Time.
Worker Adjustment and Retraining Notification Act. If requested by BHLB, Beacon Federal shall take all such actions as BHLB may request in order to fully and timely comply with any and all requirements of both the federal Worker Adjustment and Retraining Notification Act of 1988 (“WARN Act”) and any state specific WARN Act statutes, including providing notices to Beacon Federal’s employees.
Worker Adjustment and Retraining Notification Act. Upon reasonable written request by Buyer and at Buyer's expense, Sellers shall provide appropriate notice (including renewal notices) pursuant to the Worker Adjustment and Retraining Notification Act (29 U.S.C. Sections 2101, et seq.) (the "WARN Act") with respect to employees Buyer expects to terminate less than 60 days after the Closing Date. With respect to any other plant closings by Sellers for which notice has not been provided by Buyer in accordance with the preceding sentence (including the Dallas Graphics Plant) prior to the Closing Date, Sellers shall have complied with the WARN Act and all comparable state laws and shall indemnify and hold harmless Buyer from and against any liability, cost or expense in connection therewith. Buyer and Sellers shall each comply with the WARN Act and any comparable state law.
Worker Adjustment and Retraining Notification Act. As of the date of this Agreement, Seller is not subject to any obligations or Liability under the WARN Act. Each employee of Seller is terminable by Seller at will.
Worker Adjustment and Retraining Notification Act. ("WARN"). Buyer or the Company shall comply with all notice and any other requirements under WARN and any similar state statute so that the Sellers shall have no liability or obligation under WARN or similar state statute as a result of any event occurring on or after the Closing Date.
Worker Adjustment and Retraining Notification Act. If requested by Pxxxx Bankshares, Town Square Financial shall take all such actions as Pxxxx Bankshares may request in order to fully and timely comply with any and all requirements of both the federal Worker Adjustment and Retraining Notification Act of 1988 (“WARN Act”) and any state specific WARN Act statutes, including providing notices to Town Square Financial’s employees.
Worker Adjustment and Retraining Notification Act. The Selling Parties will terminate the employment of the Transferred Employees as of the Effective Time. Purchaser agrees to provide, on or before the Effective Time, notice to the Transferred Employees, appropriate union representatives and appropriate local government officials of its acquisition of the Acquired Business and the resulting impact on the employment of the Transferred Employees, as required by the Worker Adjustment and Retraining Notification Act, 29 U.S.C. 'SS''SS'2101-2109 (the "WARN Act"), including any anticipated dates of plant shutdown or mass layoffs. Purchaser agrees to indemnify and hold harmless the Selling Parties from and against any liability arising under the WARN Act with respect to the employees of the Selling Parties whose termination of employment occurs on the Closing Date. This indemnification provision shall survive the Closing and shall remain effective concurrent with the legal limitations period applicable to such WARN Act liability.
Worker Adjustment and Retraining Notification Act. If requested by BHLB, Commerce shall take all such actions as BHLB may request in order to fully and timely comply with any and all requirements of both the federal Worker Adjustment and Retraining Notification Act of 1988 (“WARN Act”) and any state specific WARN Act statutes, including providing notices to Commerce’s employees.
Worker Adjustment and Retraining Notification Act. The Seller shall terminate the employment of the Employees as of the Closing. As the Buyer agrees to offer employment to all of the Employees, the parties do not anticipate that the provisions of the Worker Adjustment and Retraining Notification Act, 29 U.S.C. Sections 2101-2109 (the "WARN Act") will be applicable. Notwithstanding the foregoing, the Buyer agrees to indemnify and hold harmless the Seller from and against any liability arising under the WARN Act with respect to the employees of the Seller whose termination of employment occurs on the date hereof and the Seller agrees to indemnify and hold harmless the Buyer from and against any liability under the WARN Act with respect to the employees of the Seller on account of the Seller's actions taken prior to the date of Closing. This indemnification provision shall survive the Closing and shall remain effective concurrent with the legal limitations period applicable to such WARN Act liability.
Worker Adjustment and Retraining Notification Act. If the notice requirements of 29 USC ss.ss.2101-2109 ("WARN") are triggered by virtue of this Agreement, Seller shall have the obligation of performing and complying with all applicable provisions of WARN. If Seller fails to satisfy such requirements, such failure shall be deemed a material breach of the Agreement and Seller and Shareholder shall be liable to Purchaser for all direct and indirect damages, monetary or otherwise, incurred by Purchaser as a result of such breach.
