Funding of Plans. With respect to each Company Employee Plan for which a separate fund of assets is or is required to be maintained, full and timely payment has been made of all amounts required of the Company under the terms of each such Company Employee Plan or applicable Law, as applied through the Closing Date. The current value of the assets of each such Company Employee Plan, as of the end of the most recently ended plan year of that Company Employee Plan, equals or exceeded the current value of all benefits liabilities under that Company Employee Plan.
Funding of Plans. Without limitation to the scope and application of ---------------- Section 7.3, any claims by or on behalf of Employees or any federal, state or local government agency for alleged underfunding of, or failure to make payments to, health and welfare funds based on acts or omissions occurring on or before the Cutoff Date or arising from or in connection with the Distribution, will be the sole responsibility of each party as to its own employees (i.e., Bio-Vascular with respect to Bio-Vascular Employees and Vital Images with respect to Vital Images Employees), and the responsible party will indemnify, defend, and hold harmless the other from any such claims.
Funding of Plans. At Closing, Seller shall fully fund the Nord Kaolin Company Pension Plan for Hourly Rated and Collective Bargaining Employees Jeffersonville, Georgia, for all benefit liabilities as defined in ERISA Section 4001(a)(16) accrued as of January 1, 1997. Seller covenants that it will fully fund for all such benefit liabilities from January 1, 1997 through the Closing Date within five (5) days from receipt of the actuarial valuation performed as of the Closing Date. In any event, Seller shall fully fund all such liabilities within thirty (30) days from the Closing Date. The value of such benefit liabilities shall be determined by utilizing the actuarial assumptions applied in the January 1, 1996 actuarial report to determine the present value of accumulated plan benefits under such Plan. If the actuarial valuation performed by Seller (utilizing the actuarial assumptions described in the preceding sentence) as of the Closing Date shows that plan assets as of the Closing Date exceed the benefit liabilities determined as of the Closing Date, Purchaser shall remit to Seller the difference within five (5) days of the determination of such excess amount.
Funding of Plans. With respect to each Company Employee Plan for which a separate fund of assets is or is required by Law or pursuant to such Company Employee Plan to be maintained, full and timely payment has been made of all amounts required of the Company and the Subsidiaries, under the terms of each such Company Employee Plan or applicable Law, as applied through the Closing Date, in each case in all material respects. The current value of the assets of each such Company Employee Plan, as of the end of the most recently ended plan year of that Company Employee Plan, equals or exceeds the current value of all benefits liabilities under that Company Employee Plan, in each case in all material respects.
Funding of Plans. Any claims by or on behalf of Employees or any federal, state or local government agency for alleged underfunding of, or failure to make payments to, health and welfare funds based on acts or omissions occurring on or before the Distribution Date or arising from or in connection with the Distribution, will be the sole responsibility of each party as to its own employees (i.e., Epitope with respect to Epitope Employees and Agritope with respect to Agritope Employees).
Funding of Plans. (OTHER THAN THE OSSTF AND OSSTF- EW PLAN)
Funding of Plans. 40 ARTICLE 8
Funding of Plans. With respect to each Company Employee Plan for which a separate fund of assets is or is required to be maintained, full and timely payment has been made of all amounts required of the Company and the Subsidiaries under the terms of each such Company Employee Plan or applicable Law, as applied through the Closing Date. The current value of the assets of each such Company Employee Plan, as of the end of the most recently ended plan year of that Company Employee Plan, equals or exceeds the current value of all liabilities under that Company Employee Plan. None of the assets of any Company Employee Plan include any Company Security or any Security Right or capital stock or other security of any ERISA Affiliate.
Funding of Plans. (OTHER THAN THE ETFO AND ETFO-EW PLAN)
Funding of Plans. With respect to each Company Employee Plan for which a separate fund of assets is or is required to be maintained, full and timely payment has been made of all amounts required of the Company and the Subsidiaries, under the terms of each such Company Employee Plan or applicable law, as applied through the Closing Date. The current value of the assets of each such Company Employee Plan, as of the end of the most recently ended plan year of that Company Employee Plan, equals or exceeded the current value of all benefits liabilities under that Company Employee Plan. No Company Employee Plan is funded with capital stock of the Company or a Subsidiary.
