PacifiCorp Unfunded Sample Clauses

PacifiCorp Unfunded. Welfare Benefits Plan. Seller shall remain solely responsible for all claims incurred by any Employee under the PacifiCorp Unfunded Welfare Benefits Plan on or before the Closing Date, whether or not such claims have been submitted prior to the Closing Date, and Buyer end the Company and its Subsidiaries and Operated Entities shall have no liability for any such claims incurred. Seller shall pay and be solely liable for and shall indemnify and hold Buyer and the Company and its Subsidiaries and the Operated Entities harmless from and against and in respect of any and all losses, damages, liabilities, taxes, sanctions that may arise under Section 4980B of the Code, interest and penalties, costs and expenses (including, without limitation, disbursements and reasonable legal fees incurred in connection therewith and in seeking indemnification therefor, and any amounts or expenses required to be paid or incurred in connection with any action, suit proceeding, claim, appeal, demand, assessment or judgment) imposed upon, incurred by, or assessed against Buyer, the Company, the Subsidiaries or the Operated Entities arising by reason of or relating to any failure to comply with the continuation health care coverage requirements of Section 4980B of the Code, Sections 601 through 608 of ERISA, or any applicable state law health care continuation statutes, which failure occurred with respect to any current or prior Employee or any qualified beneficiary of such Employee (as defined in Section 4980B(g)(1) of the Code) on or prior to the Closing Date, or which failure occurred as a result of the actions required by this Agreement. A failure shall be deemed for purposes of this paragraph to have occurred on or prior to the Closing Date if the Employee's or qualified beneficiary's qualifying event occurred on or prior to the Closing Date. Seller shall have retiree medical obligations, if any, for all Employees with retirements on or before the Closing Date.
Sample 1
AutoNDA by SimpleDocs

Related to PacifiCorp Unfunded

  • Participation in Retirement and Employee Benefit Plans The Employee shall be entitled to participate in all plans relating to pension, thrift, profit-sharing, group life and disability insurance, medical and dental coverage, education, cash bonuses, and other retirement or employee benefits or combinations thereof, in which the Bank's executive officers participate.

  • Self-Funded Leave Plan (a) The Self-Funded Leave Plan shall afford an Employee the opportunity to enter into an agreement with the Board to take a one year Self-Funded Leave. During the leave term the Employee shall agree to be paid at: (i) 5/6 leave plan 83% of salary (ii) 4/5 leave plan 80% of salary (iii) 3/4 leave plan 75% of salary

  • Unfunded Plan The Grantee acknowledges and agrees that any rights of the Grantee relating to the Grantee’s Restricted Stock Units and related dividend equivalents and any other related rights shall constitute bookkeeping entries on the books of the Company and shall not create in the Grantee any right to, or claim against, any specific assets of the Company or any Subsidiary, nor result in the creation of any trust or escrow account for the Grantee. With respect to the Grantee’s entitlement to any payment hereunder, the Grantee shall be a general creditor of the Company.

  • Participation in Benefit Plans The Executive shall be eligible to participate in the employee benefit plans and programs maintained by the Company from time to time for its executives, or for its employees generally, including without limitation any life, medical, dental, accidental and disability insurance and profit sharing, pension, retirement, savings, stock option, incentive stock and deferred compensation plans, in accordance with the terms and conditions as in effect from time to time.

  • Municipal Pension Plan An employer will provide the Municipal Pension Plan (MPP) to all eligible employees. Employees of record on March 31, 2010, who meet the eligibility requirements of the MPP, have the option of joining or not joining the MPP. Eligible employees who initially elect not to join the MPP on April 1, 2010, have the right to join the MPP at any later date but will not be able to contribute or purchase service for the period waived. All regular full-time employees hired after March 31, 2010, will be enrolled in the MPP upon completion of the earlier of their probationary period or three months and will continue in the plan as a condition of employment. Full-time hours of work are defined in the local issues agreement specific to each employer. Regular part-time employees and casual employees hired after April 1, 2010, who meet the eligibility requirements of the MPP have the right to enrol or not enrol in the MPP. Those who initially decline participation have the right to join the MPP at any later date. The MPP rules currently provide that a person who has completed two years of continuous employment with earnings from an employer of not less than 35% of the year's maximum pensionable earnings in each of two consecutive calendar years will be enrolled in the Plan. This rule will not apply when an eligible employee gives a written waiver to the Employer. Employers will ensure that all new employees are informed of the options available to them under the MPP rules. Eligibility and terms and conditions for the pension will be those contained in the Municipal Pension Plan and associated documents. If there is a conflict between the terms of this agreement and the MPP rules, the MPP must prevail. Note: MPP contact information: Web: http:\\xxx.xxxxxxxxxx.xx Email: xxx@xxxxxxxxxx.xx Victoria Phone: 0-000-000-0000 BC Phone: 0-000-000-0000

  • Benefit to Citizens of Xxxxxxx County The safety of the citizens of Xxxxxxx County is enhanced through this Agreement, which promotes safe boating conditions and reduces costs associated with patrols of recreational waterways.

  • District Contribution Effective January 1, 2019:

  • Participation in Employee Benefit Plans The Executive shall be permitted during the Term, if and to the extent eligible, to participate in any group life, hospitalization or disability insurance plan, health program, or any pension plan or similar benefit plan of the Company, which is available generally to other senior executives of the Company.

  • Unfunded Liabilities (i) The aggregate Unfunded Liabilities of all Plans would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole; (ii) the present value of the unfunded liabilities to provide the accrued benefits under all Foreign Pension Plans in the aggregate would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole; or (iii) any Reportable Event shall occur in connection with any Plan and such Reportable Event would reasonably be expected to result in a material adverse effect on the financial condition, results of operations, business or Property of the Borrower and its Subsidiaries taken as a whole.

  • Real Property Holding Company The Company is not a real property holding company within the meaning of Section 897 of the Code.

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