Plan Rollovers. Effective as of the Closing Date, Purchaser shall cause the Purchaser 401(k) Plan to accept rollovers of distributions, including the in-kind rollover of promissory notes evidencing loans to Transferred Employees, from the Seller SIP.
Plan Rollovers. The Company and Komag agree to use their best efforts to enable individual rollovers of Transferred Employees' account balances in the Company's 401(k) Plan to Komag's 401(k) Plan, which balances may include plan loans. In furtherance and not in limitation of the foregoing, provided that Transferred Employees have completed the Company's 401(k) termination distribution request form, the Company shall complete Komag's standard rollover form for each Transferred Employee electing to rollover his or her account balance into Komag's 401(k) Plan in a timely manner. In addition, the Company will provide Komag with a ------------------------------------------ "[***]" INDICATES REDACTED INFORMATION FOR WHICH CONFIDENTIAL TREATMENT IS REQUESTED ------------------------------------------ discussion of facts in support of the Company's view that the sale of the Media Business by the Company to Komag is the sale of "substantially all of the assets" used in a "trade or business" within the meaning of section 401(k)(10) of the Code.
Plan Rollovers. Purchaser agrees that Purchaser's 401(k) plan will accept rollovers, in accordance with applicable Law, in the form of cash and any outstanding loan (provided that such loan is in good standing as of the date of the rollover) from Seller's 401(k) plan on behalf of each Transferring Employee who directs that a rollover be made.
Plan Rollovers. Enovation shall permit each Transferred Employee who participates in Enovation’s 401(k) plan to elect to make direct rollovers of their account balances into Newco’s 401(k) plan as soon as administratively feasible after the Effective Time, including the direct rollover of any outstanding loan balances such that they will continue to make payments under the terms of such loans under Newco’s 401(k) plan, subject to compliance with applicable law and subject to the requirements of Newco’s 401(k) Plan.
Plan Rollovers. Holdings or Newco or any of their respective Subsidiaries shall cause Holdings’ or Newco’s 401(k) plan to accept a “direct rollover” to Holdings’ or Newco’s 401(k) plan of each Covered Employee’s account balances (including promissory notes evidencing all outstanding loans) under the Sellers’ 401(k) plans if such rollover is elected in accordance with applicable law by such Covered Employee. Buyer further agrees to cause Holdings or Newco to take all actions as may be necessary to cause each Covered Employee that participates in Holdings’ or Newco’s 401(k) plan following the Closing Date to receive full and immediate vesting of all employer contributions made by Holdings or Newco or its Affiliates to the Holdings’ or Newco’s 401(k) plan following the Closing Date. Seller shall take all actions as may be necessary to cause each Covered Employee that participates in the Sellers’ 401(k) plans prior to the Closing Date to receive full and immediate vesting of all employer contributions made by Sellers or their Affiliates to the Sellers’ 401(k) plans prior to the Closing Date. Nothing herein shall require any future employer contributions to be made by Holdings or Newco or its Affiliates to any Holdings’ or Newco’s 401(k) plan.
Plan Rollovers. The Purchaser 401(k) Plan shall accept rollover contributions by Transferred Employees from the Seller 401(k) Plan, but excluding any loans under the Seller 401(k) Plan.
Plan Rollovers. The Company and Komag agree to use their best efforts to enable individual rollovers of Transferred Employees' account balances in the Company's 401(k) Plan to Komag's 401(k) Plan, which balances may include plan loans. In furtherance and not in limitation of the foregoing, provided that Transferred Employees have completed the Company's 401(k) termination distribution request form, the Company shall complete Komag's standard rollover form for each Transferred Employee electing to rollover his or her account balance into Komag's 401(k) Plan in a timely manner. In addition, the Company will provide Komag with a
Plan Rollovers. Purchaser shall take all reasonable action necessary to permit Purchaser’s tax-qualified employee savings plan(s) maintained in the United States to accept rollover contributions of “eligible rollover distributions” (within the meaning of Section 402(c)(4) of the Code) from the Seller’s qualified retirement plan(s).
Plan Rollovers. Pioneer shall cause the Pioneer Drilling Service, Ltd. 401(k) Plan (the “Pioneer Plan”) to accept, as soon as administratively feasible after Closing, eligible rollover contributions, including the rollover of outstanding plan loans such that they will continue to make payments under the terms of such loans under the Pioneer Plan, of the employees of the Acquired Companies who participate in the WEDGE Service Corporation 401(k) Profit Sharing Plan and who elect to make direct rollovers of their account balances into the Pioneer Plan, to the extent such rollovers are elected by such employees, subject to compliance with applicable law and reasonable administrative requirements of the Pioneer Plan.
Plan Rollovers. Effective as of the Closing Date, Purchaser shall cause the Purchaser 401(k) Plan to accept rollovers of distributions, including the [ * ] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. in-kind rollover of promissory notes evidencing loans to Transferred Employees, from the Seller SIP.
