Common use of Merger of Plan Clause in Contracts

Merger of Plan. In the event of a merger or consolidation with, or transfer of assets and liabilities to any other plan, provision shall be made so that each Participant in the Plan on the date thereof (if the Plan then terminated) will be entitled to receive a benefit immediately after the merger, consolidation or transfer which is equal to or greater than the benefit which such Participant would have been entitled to receive immediately prior to the merger, consolidation or transfer (if the Plan had then terminated).

Merger of Plan. In If the event of Plan is amended to provide a merger or consolidation with, with or the transfer of assets and or liabilities to any other plananother plan which is qualified under the provisions of Code Section 401, provision shall be made so that each Participant in the Plan on the date thereof (if the Plan then terminated) will must be entitled to receive a benefit immediately after the merger, consolidation or transfer which is at least equal to or greater than the benefit which such the Participant would have been entitled to receive immediately prior to before the merger, consolidation or transfer (as if the Plan had then terminated)been terminated at that time.