Plan Transfer. 52 Post-Closing Tax Period.....................................................20 Pre-Closing Tax Period......................................................20
Plan Transfer. Promptly after the Distribution Date, the parties shall take such actions as are necessary, if any, to cause the orderly transfer from the Alloy 401(k) Plan to the xXXxX*s 401(k) Plan of the account balances held for the benefit of current and former xXXxX*s Employees and their beneficiaries in a plan-to-plan transfer of assets and liabilities that satisfies the requirements of applicable law (including Sections 411(d) and 414(l) of the Code, Section 306 of the Xxxxxxxx-Xxxxx Act of 2002, Regulation 2520.101-3 and any related applicable regulations promulgated by the United States Department of Labor and Regulation BTR promulgated by the Commission). All of such employees are listed on Schedule 5.1(f) hereto. Pending the plan-to-plan transfer as contemplated hereby, the xXXxX*s Group will withhold from the pay of xXXxX*s Employees’ who are participants in the Alloy 401(k) Plan and remit to the Alloy 401(k) Plan all required loan payments due on such xXXxX*s Employees’ participant loans from their Alloy 401(k) Plan accounts, and the Alloy 401(k) Plan will process distributions of terminated employees following their termination from the xXXxX*s Group in the normal course, subject to notification or confirmation of such termination by the xXXxX*s Group. All of such employees are listed on Schedule 5.1(f) hereto.
Plan Transfer. IV. Providing that you have paid for Your Plan in full, Your Plan may be transferred with your Vehicle directly to a new private owner (but not to a member of the motor trade). You must make the Application in writing or by email to xxxxx@xxxxxxxxxxxx.xx.xx within 30 days of the change of ownership, and you must send WarrantyWise proof of last service, a current MoT certificate and any Administration Fee applicable.
Plan Transfer. As soon as practicable after the Closing -------------------- Date, Seller shall cause the transfer of (i) the account balances of the current and former Business Employees who participate under the Thermo Choice Plan (401(k)) Plan (the "Seller's 401(k) Plan"), including outstanding loans of such -------------------- persons and (ii) assets having a value equal to said account balances to a profit-sharing plan maintained by Buyer which is qualified under Section 401(a) of the Code and which includes a cash or deferred arrangement which qualifies under Section 401(k) of the Code (the "Buyer's 401(k) Plan"). Buyer shall, ------------------- prior to the Closing, notify Seller in writing of the identity of Buyer's 401(k) Plan and shall cause Buyer's 401(k) Plan to accept the transfers referred to in the prior sentence. The assets transferred shall consist of the assets allocated under Seller's 401(k) Plan to the accounts of current and former Business Employees, including promissory notes evidencing outstanding loans of such persons. From and after the Closing, Buyer shall assume all responsibility for the management and administration of the account balances of the current and former Business Employees under Seller's 401(k) Plan and Seller shall have no further obligations with respect thereto.
Plan Transfer. As soon as practicable after the Closing Date, Seller shall cause the transfer of (i) the account balances of the current and former Nicolet Employees who participate under the Nicolet Instruments Corporation Savings (401(k)) Plan
Plan Transfer. As soon as practicable after the Closing Date, the Seller shall cause the transfer of (i) the account balances of the employees of the Company who participate under the Willxxxx Xxxdings, Inc. Retirement Savings 401(k) Plan as of the Closing Date (the "Existing 401(k) Plan") and (ii) assets having a value equal to said account balances to a profit-sharing plan maintained by the Company or the Buyer which is qualified under Section 401(a) of the Code and which includes a cash or deferred arrangement which qualifies under Section 401(k) of the Code (the "Buyer's 401(k) Plan"). The Buyer shall, prior to the Closing, notify the Seller in writing of the identity of the Buyer's 401(k) Plan and shall cause the Buyer's 401(k) Plan to accept the transfers referred to in the prior sentence. The assets transferred shall consist of cash or other assets acceptable to the Buyer and the promissory notes evidencing loans from the Seller's 401(k) Plan to employees of the Company.
Plan Transfer. As soon as practicable, and in any event within ninety (90) days, after and effective as of the Effective Time, CDI shall designate a defined contribution pension plan (or plans) and trust (or trusts) intended to qualify under Section 401(a) and Section 501(a) of the Code (such plan or plans referred to as "CDI'S SAVINGS PLAN"). As soon as practicable following receipt by YHI of either (A) a copy of a favorable determination letter issued by the Internal Revenue Service with respect to CDI's Savings Plan which takes into account recent plan amendments required under the Code or (B) an opinion, satisfactory to YHI's counsel, of CDI's counsel to the effect that the terms of CDI's Savings Plan and its related trust qualify under Section 401(a) and Section 501(a) of the Code, YHI and CDI shall cause the accounts under the Yankelovich Partners Inc. 401(k) Plan ("YHI'S SAVINGS PLAN"), and the value of assets attributable to such accounts, of the employees of AIM who will continue their employment with the Surviving Corporation upon the Effective Time and who are participants in YHI's Savings Plan as of the Effective Time to be transferred to CDI's Savings Plan in a "transfer of assets or liabilities" in accordance with Section 414(l) of the Code and Section 208 of ERISA and the respective rules and regulations promulgated thereunder. The assets to be transferred will be in the form of cash or other property, as YHI and CDI shall mutually agree prior to such transfer. Prior to such transfer, CDI will provide YHI with such documents and other information as YHI shall reasonably request to assure itself that CDI's Savings Plan and the trust established pursuant thereto (i) permit the transfer by YHI of voluntary participant after-tax contributions and (ii) contain participant loan provisions and procedures necessary to effect the orderly transfer of participant loan balances associated with the transfer of assets. Prior to the transfer, YHI and CDI will notify the Internal Revenue Service of the transfer by timely filing Forms 5310-A, to the extent such filings are required, and YHI will provide CDI with copies of such personnel and other records of YHI pertaining to the employees of AIM who are participants in YHI's Savings Plan as of the Effective Time and such records of any agent or representative of YHI pertaining to such employees and such records of any agent or representative of YHI, in each case pertaining to YHI's Savings Plan and as CDI may reasonably re...
Plan Transfer. Promptly after the Distribution Date, unless the TMP 401(k) Plan shall have been divided into separate, component plans pursuant to the last sentence of Section 5.01(d), the parties will take such actions as are necessary to cause the orderly transfer from the TMP 401(k) Plan to the HHGI 401(k) Plan of the account balances held for the benefit of current and former HHGI Employees and their beneficiaries in a plan-to-plan transfer of assets and liabilities that satisfies the requirements of applicable law (including Sections 411(d) and 414(l) of the Code, Section 306 of the Xxxxxxxx-Xxxxx Act of 2002, Regulation 2520.101-3 and any related applicable regulations promulgated by the United States Department of Labor and Regulation BTR promulgated by the Commission). As soon as practicable following the adoption of the HHGI 401(k) Plan, the HHGI Group will apply to the Internal Revenue Service for a determination letter on the initial qualification of the HHGI 401(k) Plan and the exempt status of the trust maintained as a part thereof, and the HHGI Group will adopt such amendments and take such other and further actions as are required by the Internal Revenue Service in order to obtain such determination letter. The plan-to-plan transfer of assets and liabilities from the TMP 401(k) Plan to the HHGI 401(k) Plan may be completed prior to the time such determination letter is obtained, subject to such further assurances as the TMP Group may reasonably require of the HHGI Group that the determination letter will be issued retroactively as of the Distribution Date (or the earlier effective date of the HHGI 401(k) Plan). Pending the plan-to-plan transfer as contemplated hereby, the HHGI Group will withhold from HHGI Employees' pay and remit to the TMP 401(k) Plan all required loan payments due on such HHGI Employees' participant loans from their TMP 401(k) Plan accounts, and the TMP 401(k) Plan will process distributions of terminated employees following their termination from the HHGI Group in the normal course, subject to notification or confirmation of such termination by the HHGI Group.
Plan Transfer. If Purchaser maintains a defined contribution plan for its employees ("Purchaser's 401(k) Plan"), assets of the Seller's 401(k) plan equal to the account balances of the Hired Employees under the Seller's 401(k) plan shall be transferred to Purchaser's 401(k) Plan as soon as practicable after the Closing. Purchaser shall amend Purchaser's 401(k) Plan to ensure that all Code 411(d)(6) protected benefits are preserved with respect to the account balances of the Hired Employees being transferred and shall provide Seller with the favorable determination letter issued by the Internal Revenue Service with respect to Purchaser's 401(k) Plan. Purchaser hereby warrants and represents that the Purchaser's 401(k) Plan is qualified under Code 401(a). Any outstanding plan loans to Hired Employees shall be transferred with the underlying accounts. The account balances of the Hired Employees shall be valued as of the date on which the transfer is made. The account balances of the Hired Employees in the Seller's 401(k) plan shall share in the earnings, appreciation and depreciation of the investment funds in which the accounts are invested for the period between the Closing and the date on which the transfer is made.
Plan Transfer. As soon as practicable after the Closing Date, the Seller shall cause the transfer of (i) the balances of all accounts (including without limitation after-tax accounts) of the current Technical Services Employees who participate under the EG&G, Inc. Savings Plan (the "Existing 401(k) Plan"), including without limitation outstanding loans of such persons, (ii) assets having a value equal to said account balances to a profit-sharing plan maintained by the Buyer which is qualified under Section 401(a) of the Code and which includes a cash or deferred arrangement which qualifies under Section 401(k) of the Code (the "Buyer's 401(k) Plan"), and (iii) an amount equal to the matching contributions which would be paid to such employees calculated as if the Closing Date were the last day of the plan year of the Existing 401(k)
