Common use of Seller's Retirement and Savings Plans Clause in Contracts

Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's retirement plans shall retain their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller (or Seller's retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans

Appears in 3 contracts

Samples: Asset Purchase Agreement (Champion Enterprises Inc), Asset Purchase Agreement (Champion Enterprises Inc), Asset Purchase Agreement (Champion Enterprises Inc)

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Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's ’s retirement plans shall retain their accrued benefits under Seller's ’s retirement plans as of the Closing Date, and Seller (or Seller's ’s retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans. All Hired Active Employees shall become fully vested in their accrued benefits under Seller’s retirement plans as of the Closing Date, and Seller will so amend such plans if necessary to achieve this result

Appears in 1 contract

Samples: Asset Purchase Agreement (MGP Ingredients Inc)

Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's ’s or Member’s retirement plans shall retain their accrued benefits under Seller's such retirement plans as of the Closing Date, and Seller or Member (or Seller's ’s or Member’s retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans. All Hired Active Employees shall become fully vested in their accrued benefits under Seller’s or Member’s retirement plans as of the Closing Date, and Seller or Member will so amend such plans if necessary to achieve this result.

Appears in 1 contract

Samples: Asset Purchase Agreement (Chart Industries Inc)

Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's retirement plans shall retain their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller (or Seller's retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans. All Hired Active Employees shall become fully vested in their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller will so amend such plans if necessary to achieve this result.

Appears in 1 contract

Samples: Asset Purchase Agreement (Arris Group Inc)

Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's ’s retirement plans shall retain their accrued benefits under Seller's ’s retirement plans as of the Closing Date, and Seller (or Seller's ’s retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans.

Appears in 1 contract

Samples: Asset Purchase Agreement (Nexgen Biofuels LTD)

Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's retirement plans shall retain their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller (or Seller's retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans.

Appears in 1 contract

Samples: Asset Purchase Agreement (Big Dog Holdings Inc)

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Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's savings or retirement plans shall retain their account balances or accrued benefits benefits, as applicable, under Seller's savings or retirement plans as of the Closing Date, and Seller and Affiliates (or Seller's retirement or savings plans) shall retain sole liability for the payment of such account balances or benefits as and when such Hired Active Employees become eligible therefor under such plans.

Appears in 1 contract

Samples: Asset Purchase Agreement (Advanced Nutraceuticals Inc/Tx)

Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's ’s retirement plans shall retain their accrued benefits under Seller's ’s retirement plans as of the Closing Date, and Seller (or Exhibit 10(a) Seller's ’s retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans.

Appears in 1 contract

Samples: Asset Purchase Agreement (Nexgen Biofuels LTD)

Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's ’s retirement plans shall will retain their accrued benefits under Seller's ’s retirement plans as of the Closing Date, and Seller (or Seller's ’s retirement plans) shall will retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans.

Appears in 1 contract

Samples: Asset Purchase Agreement (Anchor Funding Services, Inc.)

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