Future service benefits to be identical Sample Clauses

Future service benefits to be identical. (i) Subject to (ii), (iii) and (iv), the Purchaser shall procure that as at the Completion Date, the benefits to be offered under the Purchaser’s Scheme to and in respect of each Pensionable Employee in respect of service for the period of 12 months from and including the Completion Date (the “Future Benefits”) are identical to the benefits as at the Completion Date which would have been provided in respect of service after the Completion Date under the Vendor’s Scheme as in force at the date of this Agreement to and in respect of that Pensionable Employee but for the sale provided for in this Agreement and such benefits shall include discretionary practices identified in the Disclosure Letter. (ii) In determining whether the Future Benefits are identical to those of the Vendor’s Scheme for the purposes of (i), due account shall be taken of any difference in the levels of members’ contributions between the Purchaser’s Scheme and the Vendor’s Scheme. (iii) The Purchaser’s obligation in (i) above shall be without prejudice to any obligation imposed on the Purchaser or the Company or any member of the Purchaser’s Group under any provision of legislation, statutory instrument or contract and subject to provision 3 of Part II of Schedule 2 to the Transfer Agreement. (iv) A certificate from the Purchaser’s Actuary as agreed by the Vendor’s Actuary (and in default of agreement as to the certificate, the disagreement shall be resolved in accordance with paragraph 9) addressed to the Vendor and the Purchaser and received on or before the Completion Date that the benefits offered to the Pensionable Employees comply with the preceding provisions of this paragraph 4(D) shall be conclusive evidence of that fact.
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