Common use of Pension Benefit Plans Clause in Contracts

Pension Benefit Plans. Neither Sellers nor any ERISA Affiliate is or ever was a sponsor or obligated to contribute to any plan covered by Title IV of ERISA or Section 412 of the Code (other than the Cash Balance Plan), or any "multiemployer plan," within the meaning of Section 3(37) of ERISA. Each of the Seller Plans which is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the IRS, and has been operated substantially in accordance with its terms and with the provisions of the Code.

Appears in 2 contracts

Samples: Purchase Agreement (Hallmark Financial Services Inc), Purchase Agreement (Hallmark Financial Services Inc)

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Pension Benefit Plans. Neither Sellers the Company nor any ERISA Affiliate is or ever was has been a sponsor or obligated to contribute to any plan covered by Title IV of ERISA or Section 412 of the Code (other than the Cash Balance Plan)Code, or any "multiemployer plan," within the meaning of Section 3(37) of ERISA. Each of the Seller Company Plans which is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the IRS, and has been operated substantially in accordance with its terms and with the provisions of the Code.

Appears in 2 contracts

Samples: Purchase Agreement (Hallmark Financial Services Inc), Purchase Agreement (Hallmark Financial Services Inc)

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Pension Benefit Plans. Neither Sellers any Company nor any ERISA Affiliate is or ever was has been a sponsor or obligated to contribute to any plan covered by Title IV of ERISA or Section 412 of the Code (other than the Cash Balance Plan)Code, or any "multiemployer plan," within the meaning of Section 3(37) of ERISA. Each of the Seller Company Plans which is intended to be a qualified plan under Section 401(a) of the Code has received a favorable determination letter from the IRS, and has been operated substantially in accordance with its terms and with the provisions of the Code.

Appears in 1 contract

Samples: Purchase Agreement (Hallmark Financial Services Inc)

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