WARN Act definition
Examples of WARN Act in a sentence
Purchaser shall not, and shall cause the Company Group not to, at any time prior to sixty (60) days after the Closing Date, effectuate a “plant closing” or “mass layoff” as those terms as defined in the WARN Act affecting in whole or in part any facility, site of employment, operating unit or Employee of the Company without complying with the requirements of the WARN Act in all material respects.
None of Signature Bank’s employees has suffered an “employment loss” (as defined in the WARN Act) since six months prior to the Closing Date.
Purchaser will bear the cost of compliance with the WARN Act following and at the Effective Time; provided, however, the Company Group will bear the cost of compliance with the WARN Act prior to the Effective Time.