Common use of Office Relocation Clause in Contracts

Office Relocation. Seller will separate the Affected Employees and Acquired Assets located at Seller’s Memphis, Tennessee facilities and Seller’s Loveland, Ohio facilities (the “Business Offices”) and will relocate such offices to another Seller location (the “Relocated Business Offices”) such that, at Closing or within one (1) month after Closing, Buyer shall be able conduct the Business from the Relocated Business Offices in substantially the same manner as the Business was conducted prior to Closing. If such separation and relocation shall not have occurred as of the Closing, such Affected Employees and Acquired Assets will remain in the Business Offices and such offices will be leased or subleased (as applicable) to the Buyer on substantially the same terms as the Business Offices were provided to prior to Closing until such time as such separation and relocation have occurred.

Appears in 1 contract

Sources: Agreement of Purchase and Sale (Verso Sartell LLC)

Office Relocation. Seller will separate the Affected Employees and Acquired Assets located at Seller’s 's Memphis, Tennessee facilities and Seller’s 's Loveland, Ohio facilities (the "Business Offices") and will relocate such offices to another Seller location (the "Relocated Business Offices") such that, at Closing or within one (1) month after Closing, Buyer shall be able conduct the Business from the Relocated Business Offices in substantially the same manner as the Business was conducted prior to Closing. If such separation and relocation shall not have occurred as of the Closing, such Affected Employees and Acquired Assets will remain in the Business Offices and such offices will be leased or subleased (as applicable) to the Buyer on substantially the same terms as the Business Offices were provided to prior to Closing until such time as such separation and relocation have occurred.

Appears in 1 contract

Sources: Purchase and Sale Agreement (International Paper Co /New/)