Common use of Termination of Benefit Plans Clause in Contracts

Termination of Benefit Plans. Unless Parent provides contrary written notice to the Company, effective as of the day immediately preceding the Closing Date, the Company shall terminate any and all Company Benefit Plans intended to include a Code Section 401(k) arrangement (each, a "401(k) Plan"). The Company shall provide Parent with a reasonable opportunity to review and comment on the resolutions to be adopted by the Company's Board of Directors and other action to be taken to effect the termination of the 401(k)

Termination of Benefit Plans. Unless Parent provides contrary written notice to the Company, effective Effective as of the day immediately preceding the Closing Date, the Company shall terminate any and all Company Benefit Plans intended to include a Code Section 401(k) arrangement (each, a "“401(k) Plan"”), unless Parent provides written notice to the Company that such 401(k) Plans shall not be terminated. The Unless Parent provides such written notice to the Company, Company shall provide Parent with a copy of the of the Company’s Board resolutions terminating the Company’s 401(k) Plan in accordance with this Section 6.12, which shall be subject to reasonable opportunity to prior review and comment on the resolutions to be adopted by the Company's Board of Directors and other action to be taken to effect the termination of the 401(k)Parent.