Spinco Union Pension Plans and Trust Sample Clauses

Spinco Union Pension Plans and Trust. Effective as of the Distribution Date, Spinco or a member of the Spinco Group shall establish one or more pension plans qualified under Section 401(a) of the Code (the “Spinco Union Pension Plans”) and one or more related trusts to provide retirement benefits to Spinco Employees who are Represented Employees and to persons entitled to receive a benefit in respect of such a Represented Employee, and who, in either case, are participants in or beneficiaries under one of the Stand Alone Plans or the Mid-Atlantic Associates Plan. Each Spinco Union Pension Plan shall be identical in all material respects to the corresponding Verizon Pension Plan in which the applicable Represented Employees participated immediately prior to the Distribution Date. Spinco shall provide Frontier with a copy of those plans and such trust prior to their adoption in order to provide Frontier an opportunity to comment on their form. Spinco agrees to consult with Frontier and, subject to the obligations of the Parties under this Agreement, to reasonably consider such comments, but Frontier’s comments shall be advisory only and Spinco shall retain full discretion as to the form of the plans and trusts. As of and from the Distribution Date and until the Effective Time, Spinco, and as of and from the Effective Time, Frontier, shall be responsible for taking or causing to be taken all necessary, reasonable, and appropriate action to establish, maintain and administer the Spinco Union Pension Plans so that they qualify under Section 401(a) of the Code and the related trust thereunder is exempt from Federal income taxation under Section 501(a) of the Code. For the avoidance of doubt, prior to and following the Effective Time, Verizon shall provide Frontier all reasonably requested information, files, and documents necessary for Frontier to so maintain and administer the Spinco Union Pension Plans.
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Related to Spinco Union Pension Plans and Trust

  • 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.

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

  • No Pension Plans Neither the Company nor any current or past ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any Pension Plans subject to Title IV of ERISA or Section 412 of the Code.

  • Retirement Plans In connection with the individual retirement accounts, simplified employee pension plans, rollover individual retirement plans, educational IRAs and XXXX individual retirement accounts (“XXX Plans”), 403(b) Plans and money purchase and profit sharing plans (collectively, the “Retirement Plans”) within the meaning of Section 408 of the Internal Revenue Code of 1986, as amended (the “Code”) sponsored by a Fund for which contributions of the Fund’s shareholders (the “Participants”) are invested solely in Shares of the Fund, JHSS shall provide the following administrative services:

  • Savings Plans Employee shall be entitled to participate in Employer’s 401(k) plan, or other retirement or savings plans as are made available to Employer’s other executives and officers and on the same terms which are available to Employer’s other executives and officers.

  • Defined Contribution Plans The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined contribution plan" (as defined in Section 3(34) of ERISA), whether or not terminated.

  • Pension Plan 15.01 The CLAC Pension Plan (“the Plan”), a defined contribution pension plan, is registered with the Canada Revenue Agency. The Plan applies to all employees covered by this Agreement.

  • ERISA Plans and Liabilities All currently existing ERISA Plans are listed in the Disclosure Schedule. Except as disclosed in the Initial Financial Statements or in the Disclosure Schedule, no Termination Event has occurred with respect to any ERISA Plan and all ERISA Affiliates are in compliance with ERISA in all material respects. No ERISA Affiliate is required to contribute to, or has any other absolute or contingent liability in respect of, any "multiemployer plan" as defined in Section 4001 of ERISA. Except as set forth in the Disclosure Schedule: (i) no "accumulated funding deficiency" (as defined in Section 412(a) of the Code exists with respect to any ERISA Plan, whether or not waived by the Secretary of the Treasury or his delegate, and (ii) the current value of each ERISA Plan's benefits does not exceed the current value of such ERISA Plan's assets available for the payment of such benefits by more than $500,000.

  • Benefit Plans; ERISA (a) Section 2.09(a) of the Disclosure Schedule contains a true and complete list and description of each of the Benefit Plans and identifies each of the Benefit Plans that is a Qualified Plan and relates to Employees.

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