Social Security and Pensions Sample Clauses

Social Security and Pensions. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, the Company warrants that a) all benefit plans for any period ending before Closing have been fully paid, or, as regards employees of the Company, provided for in the relevant financial statements; b) all contributions required to be made under the terms of any such benefit plans until the Closing have been timely made or provided for in the relevant financial statements; c) on the basis of and compared to the funding requirements of applicable law, none of the benefit plans has any accumulated funding deficiency; except for any such contributions, assessments, fines or penalties currently being contested in good faith or as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. Subscription Agreement regarding AC Immune SA as of 16 October 2015
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
Social Security and Pensions. All social security, pension fund or similar payments due by InCentive or any of its subsidiaries in favour of its employees under the law or any benefit plans (collectively, the "BENEFIT PLANS") have been fully paid or provisioned in the Interim Financials. All contributions required to be made under the terms of the law (as regards social security) or of any such Benefit Plans have been timely made.
Sample 1Sample 2
Social Security and Pensions a) All persons who have to be registered by any Group Company as employees with social security and pension institutions are registered accordingly and in compliance with applicable Laws. b) The Group Companies’ respective pension payments to their employees in accordance with applicable Law are insured with the statutory pension insurance and/or with any mandatory national public pension fund, i.e., the Group Companies have no own pension institutions. c) To the Sellers’ Best Knowledge, the Group Companies have always been, and are, in compliance with all applicable pension and social security Laws. d) All contributions required to be made under (i) any pension or social security Laws or (ii) the terms of any pension scheme, pension plan, benefit plan or similar health and welfare commitments of any Group Company (the items under (ii) collectively the “Benefit Plans”) due by any Group Company for their employees for any period ending before the Closing Date have been timely made or have been adequately provisioned for in the books and accounts of the Group Companies. To the Sellers’ Best Knowledge, the Benefit Plans have no claims against any Group Company other than for the current ordinary contributions. To the Sellers’ Best Knowledge, other than the payment of the current ordinary contributions under the Benefit Plans, the Group Companies do not provide or contribute to, and are not liable to provide or contribute to, the provision of benefits for or in respect of any of their current or former directors, officers or employees or their dependents. e) All Benefit Plans are fully funded and there is no funding deficit under any of the Benefit Plans. There are no Benefit Plans of any Group Company other than those Fairly Disclosed in the Disclosed Information. f) To the Sellers’ Best Knowledge, the Group Companies are in compliance with all applicable Laws relating to social security, pension and worker compensation.
Sample 1Sample 2
Social Security and Pensions a) All persons who have to be registered by any Group Company as employees with social security and pension institutions are registered accordingly. b) The Group Companies’ respective pension payments to their employees in accordance with applicable Law are insured with the German statutory pension insurance, i.e. the Group Companies have no own pension institutions. c) All contributions required to be made under (i) any pension or social security Laws or (ii) the terms of any pension scheme, pension plan, benefit plan or similar health and welfare commitments of any Group Company (the items under (ii) collectively the “Benefit Plans”) due by any Group Company for their employees for any period ending before the Closing Date have been timely made or have been adequately provisioned for in the books and accounts of the Group Companies. The Benefit Plans have no claims against any Group Company other than for the current ordinary contributions. Other than the payment of the current ordinary contributions under the Benefit Plans, the Group Companies do not provide or contribute to, and are not liable to provide or contribute to, the provision of benefits for or in respect of any of their current or former directors, officers or employees or their dependents. d) There are no Benefit Plans of any Group Company other than those Fairly Disclosed in the Disclosed Information. e) The Group Companies are in compliance with all applicable Laws relating to social security, pension and worker compensation.
Sample 1Sample 2
Social Security and Pensions. The Target's Benefit Plans are managed by Swiss Life insurance company and in addition since 2002 by the Chemie Pension Fonds, which were or are to be disclosed during Due Diligence. All social security, pension fund or similar payments due by the Target in favor of its employees (collectively, the Benefit Plans) have been fully paid or provisioned in the relevant financial statements as of the end of the years 2000, 2001 and 2002 and in the Financial Statements. All contributions required to be made under the terms of any such Benefit Plans have been timely made or have been reflected in the relevant financial statements.
Sample 1
Social Security and Pensions. All Benefit Plans for any period ending before Closing have been fully paid, or, as regards employees of the Company, provided for in the relevant financial statements. All contributions required to be made under the terms of any such Benefit Plans until the Closing have been timely made or provided for in the relevant financial statements. On the basis of and compared to the funding requirements of applicable law, none of the Benefit Plans has any accumulated funding deficiency.
Sample 1
Social Security and Pensions. A) Other than any mandatory government or social security pension arrangements and the pension arrangements set out in Annex 6.15, there is no scheme, arrangement or agreement to which a Group Company is a party or by which a Group Company is bound or under which it has an obligation or liability (whether actual, contingent or prospective) to contribute or to provide funding for the provision of life assurance, retirement, death, disability or other like benefits (in the form of a pension, lump sum, gratuity or otherwise) in respect of any Employee. There is no funding deficit (Unterdeckung) under any of the occupational pension plans, funds, contracts, schemes or arrangements relating to the Company or its employees B) All material agreements or arrangements for the payment of pensions, allowances, lump sums or other similar benefits upon retirement or death or during periods of sickness or disablement for the benefit of any current or former director, officer or employee of the Group Companies or such person's dependents (the "Pension Plans") have been established in compliance with applicable laws and regulations. C) All deductions from employee salaries for social security and Pension Plans have been made and all such deductions and all premiums due to be paid by the Company to the social security authorities or a Pension Plan as of the Closing Date have been fully and timely paid or fully provided for in the books and accounts of the Group Companies in accordance with the Accounting Principles. D) Each of the Pension Plans which are pre-funded (whether by means of a book reserve or otherwise) are fully insured. E) To the Sellers' Knowledge, there are no actions, claims, investigations, proceedings or suits pending or threatened in writing against the Group Companies by any social security authority or by any employee under any Pension Plan. Share Purchase Agreement Versantis AG 32/#NUM_PAGES#
Sample 1
AutoNDA by SimpleDocs
Social Security and Pensions. All social security, pension fund or similar payments due by the Group Companies in favor of their employees and due by Seller's Affiliates in favor of Dedicated Employees under law or under any benefit plans have been fully paid, or provisioned for, in the relevant financial statements. All pension funds of the Group Companies have been fully funded. All contributions required to be made under the terms of any social security, pension fund or similar payments due under law or under any benefit plans have been timely made or have been reflected in the relevant financial statements of the Group Companies. Schedule 12.13 sets forth a list of any plan, program, arrangement or agreement providing for any pension, profit-sharing, savings, retirement, employment, consulting, severance pay, termination, executive compensation, incentive compensation, sales commissions, overtime pay, deferred compensation, bonus, change-in-control, retention, salary continuation, vacation, sick leave, disability, death benefit, group insurance, hospitalization, medical, dental, life insurance, employee loan, educational assistance or other employee benefits, whether written or oral, under which any Transferred Employee has any present or future right to benefits (collectively the "BENEFIT PLANS"), other than options, phantom stock or other equity-based compensation plans or agreements ("EQUITY PLANS").
Sample 1
Social Security and Pensions. The Company is in compliance with all applicable pension and social security laws. All social security, pension fund, or similar payments due by the Company in favour of the employees under the law for any period ending before the Closing Date have been fully paid or are fully provided for. All employees of the Company are contractually bound to and will benefit from the performance of the Company's pension fund to the extent legally required. All contributions required to be made as at Closing under the terms of the law (as regards social security) have been made in a timely manner or have been adequately provisioned.
Sample 1

Related to Social Security and Pensions

  • Social Security (check one)‌

  • Continuation Coverage If Executive elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, then the Company will reimburse Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination) until the earlier of (A) a period of six (6) months from the date of termination or (B) the date upon which Executive and/or Executive’s eligible dependents become covered under similar plans. The reimbursements will be made by the Company to Executive consistent with the Company’s normal expense reimbursement policy. Notwithstanding the first sentence of this Section 3(a)(iii), if the Company determines in its sole discretion that it cannot provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable monthly payment, payable on the last day of a given month, in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive’s group health coverage in effect on the termination of employment date (which amount will be based on the premium for the first month of COBRA coverage), which payments will be made regardless of whether Executive elects COBRA continuation coverage and will commence on the month following Executive’s termination of employment and will end on the earlier of (x) the date upon which Executive obtains other employment or (y) the date the Company has paid an amount equal to six (6) payments. For the avoidance of doubt, the taxable payments in lieu of COBRA reimbursements may be used for any purpose, including, but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.

  • Financial Security Arrangements At least 20 Business Days prior to the commencement of the design, procurement, installation, or construction of a discrete portion of the Connecting Transmission Owner’s Interconnection Facilities and Upgrades, the Interconnection Customer shall provide the Connecting Transmission Owner, at the Interconnection Customer’s option, a guarantee, a surety bond, letter of credit or other form of security that is reasonably acceptable to the Connecting Transmission Owner and is consistent with the Uniform Commercial Code of the jurisdiction where the Point of Interconnection is located. Such security for payment shall be in an amount sufficient to cover the costs for constructing, designing, procuring, and installing the applicable portion of the Connecting Transmission Owner’s Interconnection Facilities and Upgrades and shall be reduced on a dollar-for-dollar basis for payments made to the Connecting Transmission Owner under this Agreement during its term. The Connecting Transmission Owner may draw on any such security to the extent that the Interconnection Customer fails to make any payments due under this Agreement. In addition: 6.3.1 The guarantee must be made by an entity that meets the creditworthiness requirements of the Connecting Transmission Owner, and contain terms and conditions that guarantee payment of any amount that may be due from the Interconnection Customer, up to an agreed-to maximum amount. 6.3.2 The letter of credit or surety bond must be issued by a financial institution or insurer reasonably acceptable to the Connecting Transmission Owner and must specify a reasonable expiration date. 6.3.3 Notwithstanding the above, Security posted for System Upgrade Facilities for a Small Generating Facility required to enter the Class Year process, or cash or Security provided for System Deliverability Upgrades, shall meet the requirements for Security contained in Attachment S to the ISO OATT.

  • PENSIONS Subject to the provisions of paragraph 2 of Article 19, pensions and other similar remuneration paid to a resident of a Contracting State in consideration of past employment shall be taxable only in that State.

  • Unemployment Insurance Unemployment Insurance coverage will be provided during the life of this Agreement for regular and auxiliary employees who would, if employed by a private employer, be eligible for such coverage under the provisions of the Unemployment Insurance Act.

  • Errors on Paycheques In the event of an error on an employee's pay, the correction will be made in the pay period following the date on which the underpayment comes to the Employer's attention. If the error results in an employee being underpaid by one (1) day's pay or more, the Employer will provide payment for the shortfall within three (3) business days from the date it is notified of the error. If the Employer makes an overpayment of a day’s pay or less for an employee, the overpayment will be deducted on the pay period following the date that the error is discovered. If the error is in excess of a normal day’s pay, the Employer will be reimbursed based on a mutually satisfactory arrangement between the employee and the Employer.

  • Health Care Benefits A. Each regular, full-time employee may elect coverage for himself and his eligible dependents* under one of the following health insurance plans: 1. Blue Cross/Blue Shield of Michigan Flexible Blue 3 with Flexible Blue Rx Prescription Drug Coverage with a Health Savings Account (hereinafter collectively referred to as the “H.S.A Plan”). The Employer shall pay for the illustrated premium cost of this coverage and make an annual contribution to each participating employee’s Health Savings Account in the amount of $500 for those selecting single coverage and $1,000 for those selecting Employee & Spouse, Employee Child(ren) or Family coverage, or the maximum annual amount the Employer is permitted to pay under Section 3 of the Publicly Funded Health Insurance Contribution Act, Public Act 152 of the Michigan Public Acts of 2011, whichever results in the lesser Employer contribution to the cost of such plan. Employees may, at their option, make additional contributions through bi-weekly pre-tax payroll deduction as permitted by applicable law. 2. Blue Cross/Blue Shield of Michigan Community Blue PPO Option 3 Revised Plan with Blue Preferred Rx Prescription Drug Coverage with a 50% co-pay ($5 floor and a $50 ceiling). Employees shall pay the difference between the illustrated premium cost of this coverage and the amount of the Employer’s total contribution towards the cost of coverage under the H.S.A. Plan as described in Section 1 (a) (1), for the same level of benefit (i.e. single, employee/spouse, employee/child(ren) and family), or pay the difference between the total cost of such coverage and the maximum annual amount the Employer is permitted to pay under Section 3 of the Publicly Funded Health Insurance Contribution Act, Public Act 152 of the Michigan Public Acts of 2011, whichever results in the greater employee contribution. 3. Blue Cross/Blue Shield of Michigan Community Blue PPO Option 6 Revised Plan with Blue Preferred Rx Prescription Drug Coverage with a 50% co-pay ($5 floor and a $50 ceiling). Employees shall pay the difference between the illustrated premium cost of this coverage and the amount of the Employer’s total contribution towards the cost of coverage under the H.S.A. Plan as described in Section 1 (a) (1), for the same level of benefit (i.e. single, employee/spouse, employee/child(ren) and family), or pay the difference between the total cost of such coverage and the maximum annual amount the Employer is permitted to pay under Section 3 of the Publicly Funded Health Insurance Contribution Act, Public Act 152 of the Michigan Public Acts of 2011, whichever results in the greater employee contribution. (a) All coverage under any of the foregoing plans shall be subject to such terms, conditions, exclusions, limitations, deductibles, co-payments premium cost-sharing, and other provisions of the plans. Coverage shall commence on the employee’s ninetieth (90th) day of continuous employment. The employee’s contribution to the cost of such coverage shall be payable on a bi-weekly basis through automatic payroll deduction. (b) To qualify for health care benefits as above described each employee must individually enroll and make proper application for such benefits at the Human Resources Department upon the commencement of his regular employment with the Employer. (c) Except as otherwise provided under the Family and Medical Leave Act, when on an authorized unpaid leave of absence of more than two weeks, the employee will be responsible for paying all his benefit costs for the period he is not on the active payroll. Proper application and arrangements for the payment of such continued benefits must be made at the Human Resources Department prior to the commencement of the leave. If such application and arrangements are not made as herein described, the employee's health care benefits shall automatically terminate upon the effective date of the unpaid leave of absence. (d) Except as otherwise provided under this Agreement and/or under COBRA, an employee's health care benefits shall terminate on the date the employee goes on a leave of absence for more than two weeks, terminates, retires or is laid off. Upon return from a leave of absence or layoff, an employee's health care benefits coverage shall be reinstated commencing with the employee's return. (e) An employee who is on layoff or leave of absence for more than two weeks or who terminates may elect under COBRA to continue the coverage herein provided at his own expense. (f) The Employer reserves the right to change a carrier(s), a plan(s), and/or the manner in which it provides the above benefits, provided that the benefits and conditions are equal to or better than the benefits and conditions outlined above. (g) To be eligible for health care benefits as provided above, an employee must document all coverage available to him under his spouse's medical plan and cooperate in the coordination of coverage to limit the Employer's expense. If an employee’s spouse or eligible dependent children work for an employer who provides medical coverage, they are required to elect medical coverage with their employer, so long as the spouse’s or monthly contribution to the premium does not exceed 20% of the total premium cost of said coverage. The Monroe County Plan shall provide secondary coverage. (h) Each employee is responsible for notifying the Human Resources Department of any change in his status, which might affect his insurance coverage or benefits, such as, marriage, divorce, births, adoptions, deaths, etc.

  • WORKERS' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Health insurance premiums If you are unemployed and have received unemployment compensation for 12 consecutive weeks under a federal or state program, you may take payments from your IRA to pay for health insurance premiums without incurring the 10 percent early distribution penalty tax.

  • Unemployment If an employee or former employee is wholly or partially unemployed, he may claim benefits pursuant to the WW and also claim an enhanced benefit pursuant to the BWRHBO if he complies with the provisions laid down in these regulations.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!