Common use of International Employee Plans Clause in Contracts

International Employee Plans. Each International Employee Plan has been established, maintained and administered in material compliance with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee Plan. Furthermore, no International Employee Plan has unfunded liabilities that are not fully accrued on the Company Balance Sheet. Except as required by law, no condition exists that would prevent the Company or Parent from terminating or amending any International Employee Plan at any time for any reason.

Appears in 2 contracts

Samples: Merger Agreement (Progress Software Corp /Ma), Merger Agreement (Persistence Software Inc)

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International Employee Plans. Each International Employee Plan has been established, maintained and administered in material compliance with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws Legal Requirements that are applicable to such International Employee Plan. Furthermore, no No International Employee Plan has unfunded liabilities Liabilities, that are as of the Effective Time, will not be offset by insurance or fully accrued on the Company Balance Sheetaccrued. Except as required by lawapplicable Legal Requirements, no condition exists that would prevent the Company Company, the Surviving Corporation or Parent from terminating or amending any International Employee Plan at any time for any reason.

Appears in 1 contract

Samples: Merger Agreement (Answers CORP)

International Employee Plans. Each International Employee Plan has been established, maintained and administered in compliance in all material compliance respects with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee PlanLaws. Furthermore, no No International Employee Plan has material unfunded liabilities that are as of the Effective Time will not be fully accrued on the Company Balance Sheet. Except as required for in its financial statements or fully offset by law, no condition exists that would prevent the Company or Parent from terminating or amending any International Employee Plan at any time for any reasoninsurance.

Appears in 1 contract

Samples: Merger Agreement (Sierra Oncology, Inc.)

International Employee Plans. Each International Employee Plan has been established, maintained and administered in material compliance with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee Plan. Furthermore, no International Employee Plan has unfunded liabilities liabilities, that Table of Contents are not fully accrued on the Company Balance Sheet. Except as required by law, no condition exists that would prevent the Company or Parent from terminating or amending any International Employee Plan at any time for any reason.

Appears in 1 contract

Samples: Merger Agreement (Primus Knowledge Solutions Inc)

International Employee Plans. Each To the Knowledge of the Company, each International Employee Plan has been established, maintained and administered in material compliance accordance with its terms and conditions and with the requirements prescribed by any and applicable Laws in all statutory or regulatory laws that are applicable to such International Employee Planmaterial respects. Furthermore, no International Employee Plan has material unfunded liabilities that are as of the Effective Time will not be offset by insurance or fully accrued on the Company Balance Sheet. Except as required by law, no condition exists that would prevent the Company or Parent from terminating or amending any International Employee Plan at any time for any reasonaccrued.

Appears in 1 contract

Samples: Merger Agreement (Echelon Corp)

International Employee Plans. Each International Employee Plan has been established, maintained and administered in compliance in all material compliance respects with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee PlanLaws. Furthermore, no International Employee Plan has unfunded liabilities that are not fully accrued on the Company Balance Sheet. Except as required by law, no condition exists that would prevent the Company require disclosure against Section 3.7 or Parent from terminating or amending any International Employee Plan at any time for any reasonSection 3.8 hereof.

Appears in 1 contract

Samples: Merger Agreement (Nasdaq, Inc.)

International Employee Plans. Each International Employee Plan has been established, maintained and administered in material compliance with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee Plan. Furthermore, no International Employee Plan has material unfunded liabilities liabilities, that are as of the Effective Time, will not be offset by insurance or fully accrued on the Company Balance Sheetaccrued. Except as required by law, no condition exists that would prevent the Company or Parent from terminating or amending any International Employee Plan at any time for any reason.reason in accordance with the terms of each such International Employee Plan (other than expenses typically incurred in a termination event). Table of Contents

Appears in 1 contract

Samples: Merger Agreement (McLaren Performance Technologies Inc)

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International Employee Plans. Each Except as would not have a Company Material Adverse Effect, each International Employee Plan has been established, maintained and administered in material compliance with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee PlanLaws. Furthermore, no No International Employee Plan has material unfunded liabilities that are as of the Effective Time will not be fully accrued on the Company Balance Sheet. Except as required for in its financial statements or fully offset by law, no condition exists that would prevent the Company or Parent from terminating or amending any International Employee Plan at any time for any reasoninsurance.

Appears in 1 contract

Samples: Merger Agreement (Medallia, Inc.)

International Employee Plans. Each of the Company International Employee Plan Plans has been established, maintained and administered in compliance in all material compliance respects with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are Laws applicable to such International Company Employee Plan. Furthermore, no No Company International Employee Plan has unfunded liabilities that are as of the Effective Time will not be offset by insurance or fully accrued on the Company Balance Sheetaccrued. Except as required by law, no No condition exists that would prevent the any Company Party or Parent from terminating or amending any International Company Employee Plan at any time for any reason.

Appears in 1 contract

Samples: Merger Agreement (Forgent Networks Inc)

International Employee Plans. Each International Employee Plan has been established, maintained and administered in material compliance with its terms and conditions and with the requirements prescribed by any and all statutory or regulatory laws that are applicable to such International Employee Plan. Furthermore, no International Employee Plan has material unfunded liabilities liabilities, that are as of the Effective Time, will not be offset by insurance or fully accrued on the Company Balance Sheetaccrued. Except as required by law, no condition exists that would prevent the Company or Parent from terminating or amending any International Employee Plan at any time for any reasonreason in accordance with the terms of each such International Employee Plan (other than expenses typically incurred in a termination event).

Appears in 1 contract

Samples: Merger Agreement (Vignette Corp)

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