Unfunded Liability. No plan maintained by the Company or to which the Company has an obligation to contribute, or with respect to which the Company has any other liability, has unfunded benefit obligations or any unfunded liability. All contributions, premiums or payments under or with respect to a each plan which is set forth on the attached Employee Benefits Schedule which are due on or before the Closing Date have been paid.
Unfunded Liability. The Company’s obligation under this Paragraph 5 shall be an unfunded and unsecured promise to pay. The Company shall not be obligated under any circumstances to fund its financial obligations under this Paragraph 5 prior to the date any dividends become payable pursuant to the terms of this Award. All dividends on Restricted Stock will remain general assets of the Company subject to the claims of its general creditors. This Award does not give you any ownership interest in the assets of the Company, and all rights of ownership in the accumulated dividends attributable to Restricted Stock shall be solely those of an unsecured general creditor of the Company.
Unfunded Liability. In the event the Pension Plan is found to have an unfunded liability during the life of this Agreement, the parties shall meet immediately to negotiate amendments to the Pension Plan in order to eliminate the unfunded liability. The parties agree that the present pension benefits provided in the existing Pension Plan shall not be reduced without mutual agreement.
Unfunded Liability. The Plan's Unfunded Liability Issue will be addressed by providing a one-time contribution of forty-four cents (44¢) per hour on October 1, 1994 and an additional one-time contribution of forty-four cents (44¢) per hour on July 1, 1995. These contributions will be based on all IWA-Forest Industry Pension Plan hours worked by each employer during the 1993 and 1994 calendar years respectively and result in no change to the ongoing shared $2.50/hour contribution rate for the term of this agreement. These contributions, if matched by other Pension Plan Participating Employers, will result in the following projections of the unfunded actuarial liability based on contributory hours of 47.3 million hours in 1994, declining to 46 million hours in 1995, and declining by one million hours per year in each succeeding year to 2001, using an 8% interest assumption for solvency purposes, the Revised Mortality Basis, and Triennial Valuations: 1/1/94 $553.9 million 1/1/95 461.6 million 1/1/96 370.3 million 1/1/97 283.7 million 1/1/98 228.8 million 1/1/99 171.2 million 1/1/2000 111.0 million These contributions will allow the unfunded actuarial liability to be fully amortized in 7.7 years from 1/1/94. (The amortization period in the Preliminary Actuarial Valuation of December 31, 1993 is 9.1 years from that date.)
Unfunded Liability. No Plan maintained by a Security Party or to which such Security Party has an obligation to contribute, or with respect to which such Security Party has any other liability, has any material unfunded liability.
Unfunded Liability. You, your heirs, successors and assigns have no legal or equitable rights, interest or claims in any property or assets of the Company by virtue of participation in the Plan. The Company’s obligation under the Plan shall be that of an unfunded and unsecured promise of the Company to pay money in the future. The liability of the Company under this Plan is limited to the obligations expressly set forth in this Award Agreement and the Plan, and no term or provision of this Award Agreement or the Plan may be construed to impose any further or additional duties, obligations or costs on the Company or the Committee not expressly set forth in this Award Agreement and the Plan.
Unfunded Liability. No Plan maintained by AdStar or to which AdStar has an obligation to contribute, or with respect to which AdStar has any other liability, has any material unfunded liability.
Unfunded Liability. No plan maintained by the Corporation or any Corporation Subsidiary or to which the Corporation or any Corporation Subsidiary has an obligation to contribute, or with respect to which the Corporation or any Corporation Subsidiary has any other liability, has any unfunded liability.
Unfunded Liability. No Plan maintained by any WSI Party or to which any WSI Party has an obligation to contribute, or with respect to which any WSI Party has any other liability, has any material unfunded liability.
Unfunded Liability. As of the date of execution of this Agreement, Seller has no unfunded liability with respect to any Benefit Arrangement described under Sections 4(b)(5) or 401(a)(1) of ERISA, computed using reasonable actuarial assumptions consistent with GAAP and determined as if all benefits under such plans were vested as of such date.
