Responsibility for Existing Plans Sample Clauses

Responsibility for Existing Plans. Subject to the balance of this section, the Seller will retain all liability and responsibility for the disposition of interests under the S.D. Xxxxxx Hourly Investment Plan (the "HOURLY INVESTMENT PLAN"), the S. D. Xxxxxx Salaried Investment Plan (the "SALARIED INVESTMENT PLAN" and, together with the Hourly Investment Plan, the "INVESTMENT PLANS"), the S.D. Xxxxxx Company Cumberland Xxxxx Hourly Employees Retirement Plan (the "HOURLY RETIREMENT PLAN") and the S.D. Xxxxxx Company Retirement Plan for Salaried Continuing Employees (the "SALARIED RETIREMENT PLAN", and together with the Hourly Retirement Plan, the "PENSION PLANS") with respect to those employees (or their beneficiaries) of the Pressure Sensitive Business who, as of the Closing Date, are participants in any of the Investment Plans or Pension Plans. No Assumed Employee who is such a participant will be eligible to make any contributions to the Investment Plans or, except as provided in the following sentence, accrue benefits under the Pension Plans, and the Seller will not be obligated to make any contribution with respect to any such participant in either Investment Plan, with respect to compensation earned by such Assumed Employees on or after the Closing Date. The Seller agrees that it will amend the Pension Plans as necessary to recognize the service of Assumed Employees with the Buyer for purposes of vesting and eligibility for subsidized early retirement and supplemental benefits with respect to their accrued benefits under such Plans as of the Closing Date. The Seller agrees that it will cause the entire account balance of each Assumed Employee who is a participant in an Investment Plan to be fully vested as of the Closing Date.
Sample 1
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Related to Responsibility for Existing Plans

  • Responsibility for Expenses Vanguard will provide, at its own expense, the office space, furnishings and equipment and the personnel required by it to perform its responsibilities under this Agreement.

  • Responsibility for Costs The Servicer is responsible for collection from such Borrower of any recording or similar costs or expenses incidental to the granting of relief with respect to a delinquent Mortgage Loan.

  • Responsibility for documentation Neither the Agent nor the Arranger:

  • Debits for expenses etc The Agent shall be entitled (but not obliged) from time to time to debit any Earnings Account without prior notice in order to discharge any amount due and payable under Clause 20 or 21 to a Creditor Party or payment of which any Creditor Party has become entitled to demand under Clause 20 or 21.

  • No Liability for Election of Recommended Directors No Stockholder, nor any Affiliate of any Stockholder, shall have any liability as a result of designating a person for election as a director for any act or omission by such designated person in his or her capacity as a director of the Company, nor shall any Stockholder have any liability as a result of voting for any such designee in accordance with the provisions of this Agreement.

  • Responsibility of Dual Directors, Officers and/or Employees If any person who is a manager, partner, officer or employee of the Adviser or the Administrator is or becomes a director, officer and/or employee of the Company and acts as such in any business of the Company, then such manager, partner, officer and/or employee of the Adviser or the Administrator shall be deemed to be acting in such capacity solely for the Company, and not as a manager, partner, officer or employee of the Adviser or the Administrator or under the control or direction of the Adviser or the Administrator, even if paid by the Adviser or the Administrator.

  • Position and Responsibilities During the term of Executive’s employment hereunder, Executive agrees to serve as an Executive Vice President of the Bank. Executive shall perform administrative and management services for the Bank which are customarily performed by persons in a similar executive officer capacity. During said period, Executive also agrees to serve as an officer and director of any subsidiary of the Bank or the Company, if elected.

  • Responsibility for Subcustodians Except as provided in the last sentence of this Section 8.6, the Custodian shall be liable to the Fund for any loss or damage to the Fund caused by or resulting from the acts or omissions of any Subcustodian to the extent that such acts or omissions would be deemed to be negligence, gross negligence or willful misconduct in accordance with the terms of the relevant subcustodian agreement under the laws, circumstances and practices prevailing in the place where the act or omission occurred. The liability of the Custodian in respect of the countries and Subcustodians designated by the Custodian, from time to time on the Global Custody Network Listing shall be subject to the additional condition that the Custodian actually recovers such loss or damage from the Subcustodian.

  • No Responsibility for Title, etc So long as and to the extent that it is in the exercise of reasonable care, the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title thereto received or delivered by it pursuant to this Agreement.

  • Responsibility for Recitals, Etc The recitals herein and in the Notes (except in the Trustee's certificate of authentication) shall be taken as the statements of the Company, and the Trustee assumes no responsibility for the correctness thereof. The Trustee makes no representations as to the validity or sufficiency of this Eighth Supplemental Indenture or of the Notes. The Trustee shall not be accountable for the use or application by the Company of the Notes or of the proceeds thereof.

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