Pension Liabilities Sample Clauses

Pension Liabilities. YIT has different defined contribution and defined benefit pension plans in its operating areas, to which the local regulations and practices of the countries in question are applied. YIT Group has defined benefit pension plans in Finland and, in addition, in the years 2016 and 2015 defined benefit pension plans resulting from supplementary pension insurance, the pension liability of which has been calculated based on, among others, the salary level and the number of years employed. The pension plans are managed in insurance companies, and they are managed in accordance with the local pension legislation. December 31, 2016 Present value of funded obligations 16.0 Fair value of plan assets -13.9 Deficit/surplus 2.1 Pension liability, net 2.1 Financial risk management YIT Group is exposed to a variety of financial risks in its business operations. The main risks are liquidity risk, credit risk and market risks including foreign exchange and interest rate risk. The objective of the YIT Group’s financial risk management is to minimise the uncertainty which the changes in financial markets cause to the Group’s financial performance. For more information on financial risks see also “Risk factors – Risks relating to the Combined Company, its industry and operating environment”. The Board of Directors has approved a treasury policy for the Group. The Group Treasury is responsible for the practical implementation of the policy together with the operating units. In the operating units and subsidiaries the financing is carried out by financial personnel and management. Responsibilities between the Group Treasury and operating units are defined in the Group’s treasury policy. Operating units are responsible for providing the Group Treasury with timely and accurate information on financial position, cash flows and foreign exchange position in order to ensure the Group’s efficient risk management. In addition to the above, the Group’s treasury policy defines the principles and methods for financial risk management, cash management and specific financing-related areas e.g. commercial guarantees, relationships with financiers and customer financing. The following describes the financial risk management principles in accordance with YIT’s treasury policy. More detailed information on YIT’s financial risk management on each years presented in this Offering Circular are included in YIT’s audited consolidated financial statements as at and for the years ended December 31, 201...

Pension Liabilities. All obligations and liabilities arising from or relating to the ▇▇▇▇▇▇ Pension Plan.

Pension Liabilities. (i) Any claims or liabilities in relation to the ▇▇▇▇▇▇ Pension Plan (including, without limitation, any claim or liability relating to a contribution notice issued under Section 38 or Section 47 of the Pensions ▇▇▇ ▇▇▇▇ or a financial support direction issued under Section 43 of that Act, whether the notice or direction is issued before, on or after the Transfer Date, and any claim or liability relating to the levy to fund the Pension Protection Fund payable pursuant to the Pensions Act 2004); provided, however, that the foregoing right to indemnity shall not exist with respect to claims and liabilities for which the Purchasing Entities are entitled to indemnification under Section 11.1; (ii) Any claim that any benefit under the UNOVA Pension Fund or that any transfer paid by the UNOVA Pension Fund has not been calculated in accordance with Article 141 (formerly Article 119) of the Treaty of Rome or Section 62 of the Pensions Act 1995 made by or in respect of the membership of any UK Employee who agreed to the transfer of his or her accrued benefits from the UNOVA Pension Fund to the ▇▇▇▇▇▇ Pension Plan.

Pension Liabilities. The Company has no existing or contingent liabilities for pensions or to the PBGC which are not reflected in full on the Company’s liabilities in the financial statement on the Statement Date and the Interim Date.

Pension Liabilities. (a) With the exception of those listed in Section 3.25 of the Disclosure Schedule, there are no Agreements or Other Arrangements nor any other Liability for the provision of any relevant benefits for any employee or officer or former employee or officer of the FRS Business or for any spouse or dependant of any such Person nor has any proposal been announced to establish any such Agreement or arrangement; to the extent that any such Agreement or arrangement existed in the past, the FRS Businesses have no subsisting Liability in respect of it. Section 3.25 of the Disclosure Schedule indicates the nature of each pension plan of the FRS Businesses (defined contribution vs. defined benefits) (each a “Benefit Plan” or collectively, the “Benefit Plans”). (b) With respect to each Benefit Plan (i) proper provision has been made in the FRS Financial Statements for the costs and Liabilities of the Benefit Plans; (ii) the Assets of the Benefit Plans are held by Persons approved for this purpose; and (iii) the FRS Businesses do not have any obligation to contribute towards the pension arrangements of its directors or employees or former directors or employees other than those referred to in Section 3.25 of the Disclosure Schedule.

Pension Liabilities. The Assumed Pension Liabilities listed on SCHEDULES 9.15(a) and 9.15(b).

Pension Liabilities. Neither the Company nor any Subsidiary maintains, contributes to or has any liability or contingent liability with respect to any employee pension benefit plan other than statutory social security contributions under mandatory law.

Pension Liabilities. Any claims in relation to the CMUK Plan, the CMUK Supplementary Plan or the CMUK DC Plan (including without limitation any claim relating to a contribution notice issued under section 38 of the Pensions A▇▇ ▇▇▇▇, a financial support direction issued under section 43 of that Act, or a debt arising under section 75 of the Pension Act 1995) and any claim relating to current employees of the Lamb U.K. division as of the Transfer Date in respect of any period on or after the Transfer Date and, in the case of any such employee whose benefits are transferred from the UNOVA Pension Fund to the CMUK DC Plan pursuant to Section 5.11, in respect of any period before, on or after the Transfer Date; and

Pension Liabilities. Parent or any Subsidiary, or any member of its Controlled Group, shall fail to pay when due an amount or amounts aggregating in excess of $500,000 which it shall have become liable to pay to the PBGC or to a Plan under Title IV of ERISA; or notice of intent to terminate a Plan or Plans having aggregate Unfunded Vested Liabilities in excess of $500,000 (collectively, a “Material Plan”) shall be filed under Title IV of ERISA by Parent or any Subsidiary, or any other member of its Controlled Group, any plan administrator or any combination of the foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate or to cause a trustee to be appointed to administer any Material Plan or a proceeding shall be instituted by a fiduciary of any Material Plan against Parent or any Subsidiary, or any member of its Controlled Group, to enforce Section 515 or 4219(c)(5) of ERISA and such proceeding shall not have been dismissed within 60 days thereafter; or a condition shall exist by reason of which the PBGC would be entitled to obtain a decree adjudicating that any Material Plan must be terminated;