German Pensions Sample Clauses

German Pensions. (A) For the purpose of this Warranty, "
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German Pensions. (i) Following the Closing, Buyer shall cause BCL to close the German Pension Plans for employees commencing employment following the Closing, and to not make any changes (other than as required by Law or by Contract relating to the German Pension Plans) to the German Pension Plans which will or could result in higher pension entitlements of any German Pension Plans Beneficiary. Buyer shall procure that BCL increases ongoing pension payments only to the extent legally required under Section 16 of the German company pension statute (Betriebsrentengesetz). (ii) Buyer shall procure that BCL enters into any additional insurance and/or re-insurance contract relating to any German Pension Plans Participant at the Seller’s reasonable discretion and in accordance with Seller’s reasonable instructions. (iii) Buyer shall procure that BCL timely pays to the relevant insurer or re-insurer any insurance or re-insurance premium due under any German Pension Plans Insurance Contract and German Pension Plans Re-Insurance Contract. (iv) Buyer shall procure that BCL complies without undue delay with all reasonable information requests of Seller regarding the German Pension Plans Insurance Contracts and German Pension Plans Re-Insurance Contracts (including but not limited to obtaining and forwarding statements issued by the relevant insurer or re-insurer on insured amounts (versicherte Leistung), benefit statements (Versicherungsleistung), statement of the reserve amount (Deckungsvermögen) and buy back value (Rückkaufswert)). (v) Buyer shall procure that BCL fully complies with Seller’s reasonable instructions (to the extent not prohibited by Law or by Contract) regarding the German Pension Plans Re-Insurance Contracts, including but not limited to premium payments and the suspension or increase of any premium payments. (vi) Buyer shall procure that BCL shall not without Seller’s instruction or Seller’s prior written consent assign, pledge, transfer, terminate, or otherwise dispose of any German Pension Plans Insurance Contract or German Pension Plans Re-Insurance Contract, and that BCL shall not use any payment received under such contract for any purpose other than providing benefits under the German Pension Plans or in accordance with Section 7.4(e). Any such assignment, pledge, transfer, termination, or other disposal shall not have the effect of increasing Seller’s obligations under Section 7.2(a)(ix). Should Seller’s obligations under Section 7.2(a)(ix) increase in spit...
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Related to German Pensions

  • Taxes; Pensions Timely file, and require each of its Subsidiaries to timely file, all required tax returns and reports and timely pay, and require each of its Subsidiaries to timely pay, all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Borrower and each of its Subsidiaries, except for deferred payment of any taxes contested pursuant to the terms of Section 5.9 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms.

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • Account Balances Balances shown in your accounts may include deposits subject to verification by us. The balance reflected in the Service may differ from your records due to deposits in progress, checks outstanding, or other withdrawals, payments or charges. A transfer request may not result in immediate availability because of the time required to process the request. A transfer request must be made before the Business Day Cut-off time to be effective the same Business Day. The balances within the Service are updated periodically and the Service will display the most current "as of" date on the "accounts" summary page. There may be situations that cause a delay in an update of your balances. The Service will use the most current balance available at the time of a transaction to base our approval for account transfers.