Multi-Employer Pension Plans Sample Clauses

Multi-Employer Pension Plans. (a) As of the Closing Date, the Purchaser will become a participating employer in any multi-employer pension plans described in any of the Collective Bargaining Agreement. The Seller will remit all contributions to any such multi-employer pension plans in respect of employment of the Transferred Employees up to and including the day that is immediately prior to the Closing Date. (b) The contributions will include all of the contributions that are due to be remitted on or prior to the day that is immediately prior to the Closing Date and contributions which have accrued up to such date whether or not actually due or scheduled to be remitted on or before that date. The Seller will also complete all other obligations under any multi-employer pension plans described in any of the Collective Bargaining Agreement in respect of such period including reporting obligations. (c) As of the Closing Date, the Seller will cause the obligations of the Seller in respect of the employment of the Transferred Employees on and after the Closing Date and arising pursuant to any multi-employer pension plans described in any of the Collective Bargaining Agreement to be transferred to the Purchaser. The Purchaser will assume all obligations of the Seller in respect of the employment of the Transferred Employees on and after the Closing Date arising under the terms of any such multi-employer pension plans. (d) The Seller will terminate its participation in any multi-employer pension plans described in any of the Collective Bargaining Agreement in respect of the Transferred Employees as of the Closing Date. (e) As of the Closing Date, the Purchaser will take all necessary steps to become a participating employer in any of any multi-employer pension plans described in any of the Collective Bargaining Agreement. (f) The Purchaser will indemnify and hold harmless the Seller from any and all claims in respect of the Transferred Employees arising from the contributions payable to and other obligations of the Purchaser in respect of any multi-employer pension plans described in any of the Collective Bargaining Agreement in respect of the employment of the Transferred Employees on and after the Closing Date.
Sample 1Sample 2
AutoNDA by SimpleDocs
Multi-Employer Pension Plans. As soon as practicable, USS will request each multi-employer pension plan (within the meaning of section 4001(a)(3) of ERISA) to which USS, Alside, Inc., or any of the Subsidiaries were obligated to contribute with respect to the Operations, Alside, Alside, Inc., or any of the Subsidiaries to provide (i) a statement of the withdrawal liabilities USS, Alside, or any Subsidiary would incur if any of them were to effect or incur a complete with-drawal (within the meaning of section 4203(a) of ERISA) from such plans, (2) the date and calculations upon which such statement is based, (3) the total unfunded vested benefits under such plan for each plan year ending between 1978 and prior to the Closing, and (4) the Contribution Base Units for all employers under such plans for each of such plan years.
Sample 1
Multi-Employer Pension Plans. USS will request each multi-employer pension plan (within the meaning of section 4001(a)(3) of ERISA) to which USS, Alside, Inc., or any of the Subsidiaries were obligated to contribute with respect to the Operations, Alside, Alside, Inc., or any of the Subsidiaries to provide a letter stating whether the consummation of the transactions contemplated herein would cause a complete or partial withdrawal (within the meaning of sections 4203 and 4205 of ERISA) by USS unless the bond or escrow account required by Subparagraph 18.K(b) is provided by AMI or appropriate waivers are obtained.
Sample 1
Multi-Employer Pension Plans. With respect to any Multiemployer Plans, Buyer and Seller agree that in the event consummation of the transactions contemplated by this Agreement causes any complete withdrawal (as described in Section 4203 of ERISA) or any partial withdrawal (as described in Section 4205 or ERISA) from the Multiemployer Plans or any such withdrawal otherwise has occurred or does occur, Seller recognizes that it is solely responsible for any and all liability under Title IV of ERISA arising from withdrawals (collectively, the "Withdrawal Liability") and, notwithstanding anything to the contrary in Section 9 hereof, to the extent the Multiemployer Plans attempt to assess Withdrawal Liability against Buyer, Seller shall indemnify, defend and hold harmless Buyer from and against and in respect of any and all losses, damages, liabilities, taxes, interest and/or sanctions (including reasonable attorneys' fees)
Sample 1

Related to Multi-Employer Pension Plans

  • 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.

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan (a) the institution of any steps by the Borrower, any member of its Controlled Group or any other Person to terminate a Pension Plan if, as a result of such termination, the Borrower or any such member could be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan, in excess of $10,000,000; or (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA.

  • Multiemployer Plans Neither the Borrower nor any ERISA Affiliate has incurred any material liability (including secondary liability) to any Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan under §4201 of ERISA or as a result of a sale of assets described in §4204 of ERISA. Neither the Borrower nor any ERISA Affiliate has been notified that any Multiemployer Plan is in reorganization or insolvent under and within the meaning of §4241 or §4245 of ERISA or is at risk of entering reorganization or becoming insolvent, or that any Multiemployer Plan intends to terminate or has been terminated under §4041A of ERISA.

  • ERISA; Benefit Plans Schedule 5.13 sets forth a list of all material deferred compensation, profit-sharing, retirement and pension plans and all material bonus and other material employee benefit or fringe benefit plans maintained, or with respect to which contributions have been made, by Seller with respect to current or former employees employed in connection with the power generation operations of the Generating Plants and the Gas Turbines (collectively, "Benefit Plans"). Seller and each trade or business (whether or not incorporated) which are or have ever been under common control, or which are or have ever been treated as a single employer, with Seller under Section 414(b), (c), (m) or (o) of the Code (an "ERISA Affiliate") have fulfilled their respective obligations under the minimum funding requirements of Section 302 of ERISA, and Section 412 of the Code, with respect to each Benefit Plan which is an "employee pension benefit plan" as defined in Section 3(2) of ERISA and each such plan is in compliance in all material respects with the presently applicable provisions of ERISA and the Code, except for such failures to fulfill such obligations or comply with such provisions which would not, individually or in the aggregate, create a Material Adverse Effect. Neither Seller nor any ERISA Affiliate has incurred any liability under Section 4062(b) of ERISA, or any withdrawal liability under Section 4201 of ERISA, to the Pension Benefit Guaranty Corporation in connection with any Benefit Plan which is subject to Title IV of ERISA which liability remains outstanding, and there has not been any reportable event (as defined in Section 4043 of ERISA) with respect to any such Benefit Plan (other than a reportable event with respect to which the 30-day notice requirement has been waived by the PBGC). Neither Seller nor any ERISA Affiliate or parent corporation, within the meaning of Section 4069(b) or Section 4212(c) of ERISA, has engaged in any transaction, within the meaning of Section 4069(b) or Section 4212(c)

  • 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.

  • 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.

  • Pension Plan Employers and/or individuals who manage, operate, assist or own, either partially or wholly, a company or companies working non-union in the construction industry on Mainland Nova Scotia within the craft jurisdiction of xxx Xxxxxxxxxx Local 83 shall not be eligible to be appointed to serve, or to continue to serve, as trustees on any trust fund referred to within this Collective Agreement. This provision shall apply to management trustees and union trustees alike. 29.01 It is agreed that the employer shall pay into the established Pension Fund an amount per hour for each hour paid as per the wage tables in Craft Schedule “A”, “B”, “S” and Appendix “MIP”. Pension contributions shall be calculated based on the base hourly rate and vacation pay, and no premium shall affect this. For the purposes of this Article, overtime rates payable in accordance with Article 16 are not premiums. Such contributions shall be paid to the Trustees of the Pension Fund on or before the fifteenth (15th) day of the month following the month such hours were worked and shall be accompanied by a remittance report form for each employee on a form prescribed by the Trustees of the Fund. Each monthly report and contributions shall include all obligations arising from hours worked up to the preceding calendar month. 29.02 It is agreed that provisions for an increase in the Pension Plan (other than those increases listed above) will be implemented if so desired by the Local, with the employer contribution to be deducted from the wages rates contained herein, provided the employer receives sixty (60) days notice of such change. 29.03 The Pension Plan shall be professionally administered. 29.04 Neither the United Brotherhood of Carpenters and Joiners of America, Local 83, nor the Nova Scotia Construction Labour Relations Association shall incur any legal liability with regard to claims arising from the Pension Plan. 29.05 Employers bound by, or subject to the Agreement, shall be required to maintain for a two (2) year period, a complete set of employment records including: • employee’s name, address, and S.I.N. • number of hours worked by the employee in each week • employee’s wage rate and gross earnings, amount(s) and description of deductions from the employee’s wages • particulars of pay allowances or other payments or benefits to which the employee is entitled.

  • Multiemployer Plan Notices Promptly and in any event within five Business Days after receipt thereof by any Loan Party or any ERISA Affiliate from the sponsor of a Multiemployer Plan, copies of each notice concerning (A) the imposition of Withdrawal Liability by any such Multiemployer Plan, (B) the reorganization or termination, within the meaning of Title IV of ERISA, of any such Multiemployer Plan or (C) the amount of liability incurred, or that may be incurred, by such Loan Party or any ERISA Affiliate in connection with any event described in clause (A) or (B).

  • Multiemployer Plan “Multiemployer Plan” shall mean any “multiemployer plan,” as defined in Section 3(37) or 4001(a)(3) of ERISA, which any Seller or any ERISA Affiliate maintains, administers, contributes to or is required to contribute to, or maintained, administered, contributed to or was required to contribute to, or under which any Seller or any ERISA Affiliate has or may have any Liability.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!