Common use of BENEFIT FUND Clause in Contracts

BENEFIT FUND. 1. The Employer and Unions agree to continue the existing United Food and Commercial Workers Unions and Food Employers Benefit Fund (the “Benefit Fund”). The Benefit Fund will continue to provide health and welfare benefits that are consistent with the terms and limitations of this Agreement. 2. If any Employer ceases all or part of its operations covered by this Agreement, files a petition in bankruptcy or otherwise becomes subject to the jurisdiction of the bankruptcy court, or sells all or part of its operations covered by this Agreement (and the buyer does not assume the obligations under this Article), then such Employer shall pay a lump sum to the Benefit Fund as of the date of the cessation of operations, the filing of the bankruptcy petition, or the closing date of sale. Said sum shall be owing without regard to whether any other Employer's successor collective bargaining agreement contains the maintenance of benefits contribution obligation set forth in Article 15 (A)(2) of the expired 1999-2003 Agreement. The lump sum payment shall be the amount determined in the second paragraph of Article 15 (A)(2) of the expired 1999-2003 Agreement, except that the total obligation of all Employers shall be deemed to be ninety million dollars ($90,000,000) and the total hours reported by both the Employer and by all Employers shall be measured from the beginning of this Agreement to the last day of the month preceding the month in which the cessation or sale occurs or the petition is filed. If an Employer ceases or sells less than all of its covered operations, only those hours attributable to operations ceased or sold shall be used. Notwithstanding the foregoing, this Paragraph shall apply only where the cessation or sale involves three hundred (300) or more of the Employer's eligible employees, or more than twenty-five percent (25%) of the Employer's eligible employees, whichever is greater. A series of transactions occurring over any consecutive twenty-four (24) month period shall be considered a single transaction for the purposes of this Paragraph.

Appears in 7 contracts

Samples: Retail Food Agreement, Retail Food Agreement, Retail Food Agreement

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BENEFIT FUND. 1. The Employer and Unions agree to continue the existing United Food and Commercial Workers Unions and Food Employers Benefit Fund (the “Benefit Fund”). The Benefit Fund will continue to provide health and welfare benefits that are consistent with the terms and limitations of this Agreement. 2. If any Employer ceases all or part of its operations covered by this Agreement, files a petition in bankruptcy or otherwise becomes subject to the jurisdiction of the bankruptcy court, or sells all or part of its operations covered by this Agreement (and the buyer does not assume the obligations under this Article), then such Employer shall pay a lump sum to the Benefit Fund as of the date of the cessation of operations, the filing of the bankruptcy petition, or the closing date of sale. Said sum shall be owing without regard to whether any other Employer's ’s successor collective bargaining agreement contains the maintenance of benefits contribution obligation set forth in Article 15 19 (A)(2) of the expired 1999-2003 Agreement. The lump sum payment shall be the amount determined in the second (2nd) paragraph of Article 15 19 (A)(2) of the expired 1999-2003 Agreement, except that the total obligation of all Employers shall be deemed to be ninety million dollars ($90,000,000) and the total hours reported by both the Employer and by all Employers shall be measured from the beginning of this Agreement to the last day of the month preceding the month in which the cessation or sale occurs or the petition is filed. If an Employer ceases or sells less than all of its covered operations, only those hours attributable to operations ceased or sold shall be used. Notwithstanding the foregoing, this Paragraph shall apply only where the cessation or sale involves three hundred (300) or more of the Employer's ’s eligible employees, or more than twenty-five percent (25%) of the Employer's Employers eligible employees, whichever is greater. A series of transactions occurring over any consecutive twenty-four (24) month period shall be considered a single transaction for the purposes of this Paragraph.

Appears in 6 contracts

Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement

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BENEFIT FUND. 1. The Employer and Unions agree to continue the existing United Food and Commercial Workers Unions and Food Employers Benefit Fund (the “Benefit Fund”). The Benefit Fund will continue to provide health and welfare benefits that are consistent with the terms and limitations of this Agreement. 2. If any Employer ceases all or part of its operations covered by this Agreement, files a petition in bankruptcy or otherwise becomes subject to the jurisdiction of the bankruptcy court, or sells all or part of its operations covered by this Agreement (and the buyer does not assume the obligations under this Article), then such Employer shall pay a lump sum to the Benefit Fund as of the date of the cessation of operations, the filing of the bankruptcy petition, or the closing date of sale. Said sum shall be owing without regard to whether any other Employer's ’s successor collective bargaining agreement contains the maintenance of benefits contribution obligation set forth in Article 15 (A)(2) of the expired 1999-2003 Agreement. The lump sum payment shall be the amount determined in the second (2nd) paragraph of Article 15 (A)(2) of the expired 1999-2003 Agreement, except that the total obligation of all Employers shall be deemed to be ninety million dollars ($90,000,000) and the total hours reported by both the Employer and by all Employers shall be measured from the beginning of this Agreement to the last day of the month preceding the month in which the cessation or sale occurs or the petition is filed. If an Employer ceases or sells less than all of its covered operations, only those hours attributable to operations ceased or sold shall be used. Notwithstanding the foregoing, this Paragraph shall apply only where the cessation or sale involves three hundred (300) or more of the Employer's ’s eligible employees, or more than twenty-five percent (25%) of the Employer's Employers eligible employees, whichever is greater. A series of transactions occurring over any consecutive twenty-four (24) month period shall be considered a single transaction for the purposes of this Paragraph.

Appears in 2 contracts

Samples: Retail Food, Meat, Bakery, Candy and General Merchandise Agreement, Retail Food Agreement

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