Examples of Applicable Employees in a sentence
Each Applicable Employee who accepts employment with Purchaser or one of its Affiliates and commences working for Purchaser or one of its Affiliates shall become a “Transferred Employee.” To the extent such offer of employment by Purchaser or its Affiliates is not accepted, Sellers shall, as soon as practicable following the Closing Date, terminate the employment of all such Applicable Employees.
On and after the Closing Date, the Purchaser, the Company and the Subsidiary, as applicable, shall have responsibility for all COBRA obligations related to the Applicable Employees who are employed by the Company or the Subsidiary, as applicable, on and after the Closing Date and their qualified beneficiaries that arise as a result of a COBRA qualifying event occurring after the Closing Date.
The Seller shall retain liability for long-term disability benefits payable to Applicable Employees who as of the Closing Date are receiving long- term disability benefits or who as of the Closing Date are eligible to receive, or following the expiration of any applicable elimination period, will be eligible to receive long-term disability benefits.
Each of the Applicable Employees shall have accepted Buyer’s offer of at-will employment.
The Purchaser agrees to honor the reemployment rights of Applicable Employees absent from employment on the Closing Date due to sick leave, short- or long-term disability or workers’ compensation.