Retention of Rockwell Canadian Pension Plan Liabilities Sample Clauses

Retention of Rockwell Canadian Pension Plan Liabilities. Effective as of the end of the Canadian Holdover Term, Rockwell hereby retains and agrees to fully perform, pay and discharge, and agrees to cause the Rockwell Canadian Pension Plan and any trust related thereto to retain, and to fully perform, pay and discharge, all accrued benefit and other Liabilities of Rockwell or any of its Subsidiaries (including members of the Rockwell Xxxxxxx Group), the Rockwell Canadian Pension Plan and any trust related thereto under the Rockwell Canadian Pension Plan accrued through the end of the Canadian Holdover Term with respect to Active Rockwell Xxxxxxx Canadian Employees who were covered under the Rockwell Canadian Pension Plan prior to the end of the Canadian Holdover Term, except to the extent any Active Rockwell Xxxxxxx Canadian Employee elects to transfer his or her commuted value from the Rockwell Canadian Pension Plan as permitted pursuant to Section 3.06(a), the terms of the Rockwell Canadian Pension Plan or applicable law. None of Rockwell Xxxxxxx, the Xxxxxxxx Xxxxxxx Subsidiaries, Affiliates of any of the foregoing or the Rockwell Xxxxxxx Canadian Pension Plan will have or acquire any interest in or right to any of the assets of the Rockwell Canadian Pension Plan, and Rockwell will retain full power and authority with respect to the amendment and termination of the Rockwell Canadian Pension Plan and the investment and disposition of assets held in the Rockwell Canadian Pension Plan to the extent permitted by law. 34 <PAGE> 38 ARTICLE IV SAVINGS PLANS Section 4.01 U.S. Salaried Savings Plan. (a) As of the Time of Distribution, Rockwell Xxxxxxx will have established, and will cover the Active Rockwell Xxxxxxx Employees who participated in the Rockwell Salaried Savings Plan prior to the Time of Distribution under, a defined contribution plan (the "Rockwell Xxxxxxx Salaried Savings Plan"), which will be qualified under Sections 401(a) and 401(k) of the Code, and will have established a related trust which will be exempt from taxation under Section 501(a) of the Code. As of the Time of Distribution, Rockwell Science Center will have established, and will cover the Active Rockwell Science Center Employees who participated in the Rockwell Salaried Savings Plan prior to the Time of Distribution under, a defined contribution plan (the "Rockwell Science Center Salaried Savings Plan"), which will be qualified under Sections 401(a) and 401(k) of the Code, and will have established a related trust which will be exempt from...
Sample 1
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Retention of Rockwell Canadian Pension Plan Liabilities. Effective as of the end of the Canadian Holdover Term, Rockwell hereby retains and agrees to fully perform, pay and discharge, and agrees to cause the Rockwell Canadian Pension Plan and any trust related thereto to retain, and to fully perform, pay and discharge, all accrued benefit and other Liabilities of Rockwell or any of its Subsidiaries (including members of the Rockwell Collxxx Xxxup), the Rockwell Canadian Pension Plan and any trust related thereto under the Rockwell Canadian Pension Plan accrued through the end of the Canadian Holdover Term with respect to Active Rockwell Collxxx Xxxadian Employees who were covered under the Rockwell Canadian Pension Plan prior to the end of the Canadian Holdover Term, except to the extent any Active Rockwell Collxxx Xxxadian Employee elects to transfer his or her commuted value from the Rockwell Canadian Pension Plan as permitted pursuant to Section 3.06(a), the terms of the Rockwell Canadian Pension Plan or applicable law. None of Rockwell Collxxx, xxe Rockxxxx Xxxlxxx Xxxsidiaries, Affiliates of any of the foregoing or the Rockwell Collxxx Xxxadian Pension Plan will have or acquire any interest in or right to any of the assets of the Rockwell Canadian Pension Plan, and Rockwell will retain full power and authority with respect to the amendment and termination of the Rockwell Canadian Pension Plan and the investment and disposition of assets held in the Rockwell Canadian Pension Plan to the extent permitted by law.
Sample 1

Related to Retention of Rockwell Canadian Pension Plan Liabilities

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • ERISA Liabilities; Employee Plans The Credit Parties shall: (i) keep in full force and effect any and all Employee Plans which are presently in existence or may, from time to time, come into existence under ERISA, and not withdraw from any such Employee Plans, unless such withdrawal can be effected or such Employee Plans can be terminated without liability to the Credit Parties; (ii) make contributions to all of such Employee Plans in a timely manner and in a sufficient amount to comply with the standards of ERISA, including the minimum funding standards of ERISA; (iii) comply with all material requirements of ERISA which relate to such Employee Plans; (iv) notify Lender immediately upon receipt by the Credit Parties of any notice concerning the imposition of any withdrawal liability or of the institution of any Proceeding or other action which may result in the termination of any such Employee Plans or the appointment of a trustee to administer such Employee Plans; (v) promptly advise Lender of the occurrence of any “Reportable Event” or “Prohibited Transaction” (as such terms are defined in ERISA), with respect to any such Employee Plans; and (vi) amend any Employee Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue Code of 1986 to the extent necessary to keep the Employee Plan qualified, and to cause the Employee Plan to be administered and operated in a manner that does not cause the Employee Plan to lose its qualified status.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • Unfunded Pension Liability the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

  • Employee Matters; Benefit Plans (a) Except as required by applicable Legal Requirements, the employment of each of the Acquired Corporations’ employees is terminable by the applicable Acquired Corporation at will.

  • Retirement and Welfare Plans Executive shall participate in employee retirement and welfare benefit plans made available to the Company’s senior level executives as a group or to its employees generally, as such retirement and welfare plans may be in effect from time to time and subject to the eligibility requirements of the plans. Nothing in this Agreement shall prevent the Company from amending or terminating any retirement, welfare or other employee benefit plans or programs from time to time as the Company deems appropriate.

  • Defined Benefit Pension Plans The Borrower will not adopt, create, assume or become a party to any defined benefit pension plan, unless disclosed to the Lender pursuant to Section 5.10.

  • ERISA Liabilities The Borrower shall not, and shall cause each of its ERISA Affiliates not to, (i) permit the assets of any of their respective Plans to be less than the amount necessary to provide all accrued benefits under such Plans, or (ii) enter into any Multiemployer Plan.

  • Pension Plans Any of the following events shall occur with respect to any Pension Plan:

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