Common use of Assumption of Existing Plans Clause in Contracts

Assumption of Existing Plans. Effective on the Distribution Date, Chaparral shall assume and thereafter be solely responsible for all then existing or future employer Liabilities arising from or related to the Chaparral FSP’s covering any Chaparral Business Employees and the administration thereof.

Assumption of Existing Plans. Effective on the Distribution Date, Chaparral shall assume and thereafter be solely responsible for all then existing or future employer Liabilities arising from or related to the Chaparral TXI FSP’s covering any Chaparral Business Employees (including Chaparral Business Employees whose employment terminated prior to the Cessation Time for any reason) and the administration thereof.