Common use of 401(k) Plans Clause in Contracts

401(k) Plans. Effective as of the Business Day immediately preceding the Effective Time, unless otherwise directed in writing by Buyer at least ten (10) Business Days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and all 401(k) plans sponsored or maintained by Company and shall provide Buyer evidence that each of Company’s 401(k) plans has been terminated pursuant to an action by the Company Board.

401(k) Plans. Effective as of the Business Day day immediately preceding the Effective Time, unless otherwise directed in writing by Buyer Parent at least ten (10) Business Days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and all 401(k) plans sponsored or maintained by the Company and shall provide Buyer Parent evidence that each of Company’s 's 401(k) plans has been terminated pursuant to an action by the Company Board.

401(k) Plans. Effective as of the Business Day day immediately preceding the Effective Time, unless otherwise directed in writing by Buyer Parent at least ten (10) Business Days business days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and all 401(k) plans sponsored or maintained by Company and shall provide Buyer Parent evidence that each of Company’s 401(k) plans has been terminated pursuant to an action by resolutions of the Company BoardBoard of Directors of the Company.

401(k) Plans. Effective as of the Business Day day immediately preceding the Effective Time, unless otherwise directed in writing by Buyer Parent at least ten (10) Business Days prior to the Effective Time, the Company shall take all actions necessary to effect the termination of any and all 401(k) plans sponsored or maintained by the Company and shall provide Buyer Parent evidence that each of Company’s 401(k) plans has been terminated pursuant to an action by the Company Board.