Common use of International Employee Plans Clause in Contracts

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

International Employee Plans. Each Company International Benefit 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 Company International Benefit Employee Plan. No Company Furthermore, no International Benefit Employee Plan has unfunded liabilities that, as of that are not fully accrued on the Effective Time, will not be offset by insurance or fully accruedCompany Balance Sheet. Except as required by law, no condition exists that would prevent the Company or the Surviving Corporation Parent from terminating or amending any Company International Benefit Employee Plan at any time for any reasonreason (other than ordinary administration expenses or routine claims for benefits).