Funded Welfare Benefit Plans Sample Clauses

Funded Welfare Benefit Plans. Each Computervision Employee Plan ---------------------------- which is maintained in connection with any trust or other arrangement described in Section 501(c)(9) of the Code or is otherwise funded within the meaning of Section 419 of the Code has received a favorable ruling as to its tax-exempt status and nothing has occurred, whether by action or failure to act, which would cause the loss of such tax-exempt status.
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Funded Welfare Benefit Plans. Each Seller Employee Plan which is ---------------------------- maintained in connection with any trust or other arrangement described in Section 501(c)(9) of the Code or is otherwise funded within the meaning of Section 419 of the Code has received a favorable ruling as to its tax-exempt status and nothing has occurred, whether by action or failure to act, which would cause the loss of such tax-exempt status.
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Funded Welfare Benefit Plans. No ERISA Plan with respect to which Seller has any obligation and which is an "employee welfare benefit plan" (as defined in Section 3(1) of ERISA) ("Welfare Benefit Plan"), provides benefits or payments other than through policies or contracts of insurance issued by a duly licensed insurance company.
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Funded Welfare Benefit Plans. Scout currently maintains the --------------------------------- Scout, Inc. Medical Care Plan and the Scout, Inc. Dental Care Plan, both of which are self-funded "employee welfare benefit plans," within the meaning of Section 3(1) of the Employee Retirement Income Security Act of 1974, as amended, (collectively, the "Scout Self-Funded Welfare Plans") for the benefit of its employees and the employees of its affiliates. On or before the Distribution Date, effective as of the Distribution Date, Scout shall withdraw as "plan sponsor" (as that term is defined under both Scout Self-Funded Welfare Plans) and SNFCo shall assume the position of "plan sponsor" under both Scout Self- Funded Welfare Plans, as well as the postion of employer under any related trusts. SNFCo shall amend the Scout Self-Funded Welfare Plans as necessary to reflect the changes in sponsorship and to clarify that only eligible employees of SNFCo or a SNFCo Affiliate and their eligible dependents may continue participation in the Scout Self-Funded Welfare Plans after the Distribution Date, other than persons eligible for and who elect continuation coverage contemplated by Code Section 4980B. Effective as of the Distribution Date or as soon as practical thereafter, New Scout shall establish or otherwise make available employee welfare benefit plans (the "Replacement Welfare Benefit Plans") providing medical and, if applicable, dental benefits to those participants under the Scout Self-Funded Welfare Plans who are or become employees of New Scout or a Scout Affiliate following the Distribution Date and shall provide that such employees shall be eligible for immediate participation in the Replacement Welfare Benefit Plans, with no interruption of coverage, and shall credit the period of coverage under the Scout Self-Funded Welfare Plans towards any preexisting conditions limitation under the Replacement Welfare Benefit Plans. The Replacement Welfare Benefit Plans shall be structured in a manner to eliminate any obligation by SNFCo to provide continuation of coverage as contemplated in Code Section 4980B with respect to New Scout employees (and their qualified beneficiaries) after the Distribution Date. In addition, the Replacement Welfare Plans shall assume any continuation coverage obligations under Code Section 4980B with respect to those former Scout employees (and their qualified beneficiaries) who were last included on a payroll of the Institutional Pharmacy Business immediately prior to th...
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Related to Funded Welfare Benefit Plans

  • Welfare Benefit Plans During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance plans and programs) to the extent applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable of such plans, practices, policies and programs in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Health and Welfare Benefit Plans During the Employment Period, Executive and Executive’s immediate family shall be entitled to participate in such health and welfare benefit plans as the Employer shall maintain from time to time for the benefit of senior executive officers of the Employer and their families, on the terms and subject to the conditions set forth in such plan. Nothing in this Section shall limit the Employer’s right to change or modify or terminate any benefit plan or program as it sees fit from time to time in the normal course of business so long as it does so for all senior executives of the Employer.

  • Employee Welfare Benefit Plans Except as disclosed on ------------------------------ Schedule 3.14, the Company does not maintain or contribute to any "employee ------------- welfare benefit plan" as such term is defined in Section 3(1) of ERISA. With respect to each such plan, (i) the plan is in material compliance with ERISA; (ii) the plan has been administered in accordance with its governing documents; (iii) neither the plan, nor any fiduciary with respect to the plan, has engaged in any "prohibited transaction" as defined in Section 406 of ERISA other than any transaction subject to a statutory or administrative exemption; (iv) except for the processing of routine claims in the ordinary course of administration, there is no material litigation, arbitration or disputed claim outstanding; and (v) all premiums due on any insurance contract through which the plan is funded have been paid.

  • ERISA; Benefit Plans Section 4.26(d) of the Disclosure Statement accurately (i) lists each ERISA Pension Benefit Plan (A)(1) the funding requirements of which (under Section 301 of ERISA or Section 412 of the Code) are, or at any time during the six-year period ending on the date hereof were, in whole or in part, the responsibility of the Seller or any Seller Subsidiary or (2) respecting which the Seller or any Seller Subsidiary is, or at any time during that period was, a "contributing sponsor" or an "employer" as defined in Sections 4001(a)(13) and 3(5), respectively, of ERISA (each plan described in this clause (A) being a "Seller ERISA Pension Plan"), (B) each other ERISA Pension Benefit Plan respecting which an ERISA Affiliate is, or at any time during that period was, such a "contributing sponsor" or "employer" (each plan described in this clause (B) being an "ERISA Affiliate Pension Plan") and (C) each other ERISA Employee Benefit Plan that is being, or at any time during that period was, sponsored, maintained or contributed to by the Seller or any Seller Subsidiary (each plan described in this clause (C) and each Seller ERISA Pension Plan being a "Seller ERISA Benefit Plan"), (ii) states the termination date of each Seller ERISA Benefit Plan and ERISA Affiliate Pension Plan that has been terminated and (iii) identifies for each ERISA Affiliate Pension Plan the relevant ERISA Affiliates. The Seller has provided Apple with (i) true, complete and correct copies of (A) each Seller ERISA Benefit Plan and ERISA Affiliate Pension Plan, (B) each trust agreement related thereto and (C) all amendments to those plans and trust agreements. Except as accurately set forth in Section 4.26(d) of the Disclosure Statement, (i) neither the Seller nor any Seller Subsidiary is, or at any time during the six-year period ended on the date hereof was, a member of any ERISA Group that currently includes, or included when the Seller or a Seller Subsidiary was a member, among its members any Person other than the Seller and the Seller Subsidiaries and (ii) no Person is an ERISA Affiliate of the Seller or any Seller Subsidiary (other than the Seller or any Seller Subsidiary in the case of any other Seller Subsidiary or any Seller Subsidiary in the case of the Seller, if the Seller and the Seller Subsidiaries comprise an ERISA Group).

  • Benefit Plans The Executive shall be eligible to participate in any employee benefit plan of the Company, including, but not limited to, equity, pension, thrift, profit sharing, medical coverage, education, or other retirement or welfare benefits that the Company has adopted or may adopt, maintain or contribute to for the benefit of its senior executives, at a level commensurate with his positions, subject to satisfying the applicable eligibility requirements. The Company may at any time or from time to time amend, modify, suspend or terminate any employee benefit plan, program or arrangement for any reason in its sole discretion.

  • Benefit Plan Any of (i) an “employee benefit plan” (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (ii) a “plan” subject to Section 4975 of the Code or (iii) any entity whose underlying assets include plan assets by reason of investment by an employee benefit plan or a plan in such entity.

  • Pension Benefit Plans All Pension Benefit Plans maintained by each Covered Person or an ERISA Affiliate of such Covered Person qualify under Section 401 of the Code and are in compliance with the provisions of ERISA to the extent ERISA is applicable and all other Material Laws. Except with respect to events or occurrences which do not have and are not reasonably likely to have a Material Adverse Effect on any Covered Person, and to the extent ERISA is applicable to any such Pension Benefit Plans:

  • Company Benefit Plans (a) Section 4.13(a) of the Company Disclosure Letter sets forth a complete list, as of the date hereof, of each material Company Benefit Plan. For purposes of this Agreement, a “

  • Benefit Plans; ERISA (a) Section 2.09(a) of the Disclosure Schedule contains a true and complete list and description of each of the Benefit Plans and identifies each of the Benefit Plans that is a Qualified Plan and relates to Employees.

  • Company Employee Plans (a) Part 3.19(a) of the Disclosure Schedule sets forth a complete and accurate list of each material Company Employee Plan. For purposes of this Agreement, “

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