Common use of Seller Benefit Plans Clause in Contracts

Seller Benefit Plans. Seller has maintained and funded all of its employee benefit plans (collectively, the “Seller Benefit Plans”) in accordance with their terms and all applicable laws. Neither Seller nor any member of the controlled group maintains or contributes to, or has ever maintained or contributed to, any Defined Benefit Plan or Multiemployer Plan. Nothing contained in any of the Seller Benefit Plans will obligate Buyer to provide any benefits to employees, former employees or beneficiaries of employees or former employees, or to make any contributions to any plans from and after the Closing.

Appears in 2 contracts

Samples: Asset Purchase Agreement, Asset Purchase Agreement (Cardium Therapeutics, Inc.)

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Seller Benefit Plans. Seller has maintained and funded all of its employee benefit plans (collectively, the “Seller Benefit Plans”) Plans in accordance with their terms and all applicable laws. Neither Seller nor any member of the controlled group maintains or contributes to, or has ever maintained or contributed to, any Defined Benefit Plan or Multiemployer PlanLegal Requirements. Nothing contained in any of the Seller Benefit Plans will obligate Buyer the Purchaser or its Affiliates to provide any benefits to employeesSeller’s Employees and former Employees, former employees or beneficiaries of employees or Seller’s Employees and former employeesEmployees, or to make any contributions to any plans from and after the Closing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Therma Wave Inc)

Seller Benefit Plans. Seller has maintained and funded all of its employee benefit plans (collectively, the “Seller Benefit Plans”) in accordance with their terms and all applicable laws. Neither Seller nor any member Member of the controlled group Controlled Group maintains or contributes to, or has ever maintained or contributed to, any Defined Benefit Plan or Multiemployer Plan. Nothing contained in any of the Seller Benefit Plans will obligate Buyer Purchaser or Purchaser Sub to provide any benefits to employees, former employees or beneficiaries of employees or former employees, or to make any contributions to any plans from and after the Closing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Micrus Endovascular Corp)

Seller Benefit Plans. Seller has maintained and funded all of its employee benefit plans (collectively, the "Seller Benefit Plans") in accordance with their terms and all applicable laws. Neither Seller nor any member of the controlled group maintains or contributes to, or has ever maintained or contributed to, any Defined Benefit Plan or Multiemployer Plan. Nothing contained in any of the Seller Benefit Plans will obligate Buyer Purchaser to provide any benefits to employees, former employees or beneficiaries of employees or former employees, or to make any contributions to any plans from and after the Closing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Pc Mall Inc)

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Seller Benefit Plans. Seller has maintained and funded all of its employee benefit plans (collectively, the “Seller Benefit Plans”) in accordance with their terms and all applicable laws. Neither Seller nor any member Member of the controlled group maintains or contributes to, or has ever maintained or contributed to, any Defined Benefit Plan or Multiemployer Plan. Nothing contained in any of the Seller Benefit Plans will obligate Buyer to provide any benefits to employees, former employees or beneficiaries of employees or former employees, or to make any contributions to any plans from and after the Closing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Cardium Therapeutics, Inc.)

Seller Benefit Plans. Seller has maintained and funded all of its employee benefit plans (collectively, the "Seller Benefit Plans") in accordance with their terms and all applicable laws. Neither Seller nor any member of the controlled group maintains or contributes to, or has ever maintained or contributed to, any Defined Benefit Plan or Multiemployer Plan. Nothing contained in any of the Seller Benefit Plans will obligate Buyer to provide any benefits to employees, former employees or beneficiaries of employees or former employees, or to make any contributions to any plans from and after the Closing.

Appears in 1 contract

Samples: Asset Purchase Agreement (Net Element International, Inc.)

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