Common use of Prior to the Closing Date Clause in Contracts

Prior to the Closing Date. Buyer shall interview such employees of Seller as Buyer shall choose, for purposes of determining employment after the Closing Date in such positions as Buyer, in its discretion, shall choose; however, nothing in this Agreement shall obligate or require Buyer to hire or employ any of Seller's employees after the Closing Date. Employees of Seller immediately prior to the Effective Time who are employed by Buyer immediately after the Effective Time are hereinafter referred to as "Hired Employees".

Appears in 2 contracts

Sources: Purchase and Assumption Agreement (Royal Bancshares of Pennsylvania Inc), Purchase and Assumption Agreement (Crusader Holding Corp)