Common use of Retirement Plan Liabilities Clause in Contracts

Retirement Plan Liabilities. Except as specifically provided under Section 3.2, effective as of the Closing Date, the Active Constar Employees will cease to earn benefits under the Crown Retirement Plans and the Constar Group will establish the Constar Retirement Plans for the benefit of the Active Constar Employees. The Constar Retirement Plans will provide benefits for a period of one year after the Closing Date that are at least substantially equivalent in all Material Features (except for the Supplemental Pension Plan provisions of the Crown Pension Plan) to those provided under the corresponding Crown Retirement Plans immediately before the Closing Date. Except as specifically provided under Section 3.2 or Section 3.3 and notwithstanding Section 2.2, the Crown Retirement Plans will retain all liabilities and assets related to retirement benefits earned under such Retirement Plans by Active Constar Employees and Former Constar Employees prior to the Closing Date.

Retirement Plan Liabilities. Except as specifically provided under Section 3.2, effective Effective as of the Closing Date, the Active Constar Employees will cease to earn benefits under the Crown Retirement Plans and the Constar Group will establish the Constar Retirement Plans for the benefit of the Active Constar Employees. The Constar Retirement Plans will provide benefits for a period of one year after the Closing Date that are at least substantially equivalent in all Material Features (except for the Supplemental Pension Plan provisions of the Crown Salaried Pension Plan) to those provided under the corresponding Crown Retirement Plans immediately before the Closing Date. Except as specifically provided under Section 3.2 or Section 3.3 and notwithstanding Section 2.2, the Crown Retirement Plans will retain all liabilities and assets related to retirement benefits earned under such Retirement Plans by Active Constar Employees and Former Constar Employees prior to the Closing Date.

Retirement Plan Liabilities. Except as specifically provided under Section 3.2, effective as of the Closing Date, the Active Constar Employees will cease to earn benefits under the Crown Retirement Plans and the Constar Group will establish the Constar Retirement Plans for the benefit of the Active Constar Employees. The Constar Retirement Plans will provide benefits for a period of one year after the Closing Date that are at least substantially equivalent in all Material Features (except for the Supplemental Pension Plan provisions of the Crown Salaried Pension Plan) to those provided under the corresponding Crown Retirement Plans immediately before the Closing Date. Except as specifically provided under Section 3.2 or Section 3.3 and notwithstanding Section 2.2, the Crown Retirement Plans will retain all liabilities and assets related to retirement benefits earned under such Retirement Plans by Active Constar Employees and Former Constar Employees prior to the Closing Date.