Union Pension Plans Sample Clauses

Union Pension Plans. Effective as of the Closing Date, Buyer shall assume sponsorship of the single-employer defined benefit plans covering Union Employees as set forth in Section 7.5 of the Seller Disclosure Schedules and the related trusts (“Union Pension Plans”). Buyer shall assume all liability and obligation of Seller under the Union Pension Plans, effective as of the Closing Date. Buyer shall maintain all such Union Pension Plans in accordance with their collective bargaining agreements, and Buyer shall credit the service of each Union Employee with Knight Ridder or its affiliates, including the Acquired Companies and their Subsidiaries, for purposes of eligibility and vesting.
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Union Pension Plans. The transactions contemplated by this Agreement are not intended to satisfy the requirements of Section 4204 of ERISA with respect to the B.C.T.W. & G.M, International Union’s Industry Wide Employees Pension Fund or the International Brotherhood of Teamsters Local Union 710 Pension Fund.
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Union Pension Plans. Effective as of the Closing Date, Buyer shall assume sponsorship of the single-employer defined benefit plans covering Union Employees as set forth in Section 7.6 of the Seller Disclosure Schedules and the related trusts (“Union Pension Plans”). Buyer shall assume all liability and obligation of Seller under the Union Pension Plans, effective as of the Closing Date. Buyer shall maintain all such Union Pension Plans in accordance with their collective bargaining agreements, and Buyer shall credit the service of each Union Employee with Knight Ridder or its affiliates, including the Acquired Companies and their Subsidiaries, for purposes of eligibility and vesting. Buyer will make or cause the applicable Acquired Company to make all required contributions under Buyer’s pension plan(s) as required under any applicable collective bargaining unit agreement.
Sample 1
Union Pension Plans. In the event that Buyer is providing pension benefits to Transferred Union Employees following the Closing Date under any pension plan of the Buyer (the "Buyer's Union Pension Plan") pursuant to a collective bargaining agreement between Buyer and the union representing the Transferred Union Employees, Buyer shall establish or maintain defined benefit pension plans to be qualified under Section 401(a) of the Code for the benefit of Transferred Union Employees, and Transferred Non-Union Employees who have an accrued benefit under the Seller's Union Pension Plans (as defined below), including credit for past service with Seller for eligibility, vesting, early retirement and, contingent upon the transfer of assets in accordance with this Section 9.2(b), benefit accrual previously recognized under The Boeing Company North American Retirement Plan ("Seller's Union Pension Plan"). Subject to Section 4 of Schedule 9.2, Seller shall cause assets to be transferred from the Seller's Union Pension Plan to Buyer's Union Pension Plan within 120 days after the Closing Date in an amount representing the Estimated Sold Business Asset Share (as determined under Schedule 9.2). The amount of this initial transfer shall be deducted from the final transfer amount when determining the remaining amount to be transferred hereunder. Within thirty (30) days following the final determination of the Sold Business Asset Share (as defined and determined under Schedule 9.2), or, if later, in the event the Internal Revenue Service raises any objections to the transfer, the date as of which the Internal Revenue Service withdraws such objections or is satisfied that the terms of the transfer have been modified to the extent necessary to meet such objections, Seller shall cause assets to be transferred from the Seller's Union Pension Plan to the Buyer's Union Pension Plan or Buyer shall cause assets to be transferred from the Buyer's Union Pension Plan to the Seller's Union Pension Plan in accordance with Section 2 of Schedule 9.2. All transfers shall be in accordance with the requirements of Section 414(1) of the Code and Cost Accounting Standard 9904.413-50, including the first sentence of Cost Accounting Standard 9904.413-50(c)(12)(v). Seller and Buyer shall timely file Forms 5310-A in respect to the transfers contemplated by this Section 9.2(b) as required by law. All assets transferred under this Section 9.2(b) or Schedule 9.2 shall be made in cash or cash equivalents. From and after th...
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Related to Union Pension Plans

  • Canadian Pension Plans The Loan Parties shall not (a) contribute to or assume an obligation to contribute to any Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent, or (b) acquire an interest in any Person if such Person sponsors, administers, maintains or contributes to or has any liability in respect of any Canadian Defined Benefit Plan, or at any time in the five-year period preceding such acquisition has sponsored, administered, maintained, or contributed to a Canadian Defined Benefit Plan, without the prior written consent of the Administrative Agent.

  • 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.

  • 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:

  • Termination of Pension Plans The Company will not, and will not permit any Consolidated Subsidiary to, withdraw from any Multiemployer Plan to which it may hereafter contribute or permit any employee benefit plan hereafter maintained by it to be terminated if such withdrawal or termination could result in withdrawal liability (as described in Part 1 of Subtitle E of Title IV of ERISA) or the imposition of a Lien on any property of the Company or any Consolidated Subsidiary pursuant to Section 4068 of ERISA.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, the Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, the Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives.

  • 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.

  • Employee Pension Benefit Plans Except as disclosed in ------------------------------ Schedule 3.14, the Company does not maintain or contribute to any arrangement ------------- that is or may be an "employee pension benefit plan" relating to employees, as such term is defined in Section 3(2) of ERISA. With respect to each such plan: (i) the plan is qualified under Section 401(a) of the Code, and any trust through which the plan is funded meets the requirements to be exempt from federal income tax under Section 501(a) of the Code; (ii) the plan is in material compliance with ERISA; (iii) the plan has been administered in accordance with its governing documents as modified by applicable law; (iv) the plan has not suffered an "accumulated funding deficiency" as defined in Section 412(a) of the Code; (v) the plan has not engaged in, nor has any fiduciary with respect to the plan engaged in, any "prohibited transaction" as defined in Section 406 of ERISA or Section 4975 of the Code other than a transaction subject to statutory or administrative exemption; (vi) the plan has not been subject to a "reportable event" (as defined in Section 4043(b) of ERISA), the reporting of which has not been waived by regulation of the Pension Benefit Guaranty Corporation; (vii) no termination or partial termination of the plan has occurred within the meaning of Section 411(d)(3) of the Code; (viii) all contributions required to be made to the plan or under any applicable collective bargaining agreement have been made to or on behalf of the plan; (ix) there is no material litigation, arbitration or disputed claim outstanding; and (x) all applicable premiums due to the Pension Benefit Guaranty Corporation for plan termination insurance have been paid in full on a timely basis.

  • ERISA; Benefit Plans Schedule 2.25 accurately (i) lists each ERISA Pension Benefit Plan (A)(1) the funding requirements of which (under Section 301 of ERISA or Section 412 of the Code) are, or at any time during the six-year period ending on the date hereof were, in whole or in part, the responsibility of the Company or any Company Subsidiary or (2) respecting which the Company or any Company Subsidiary is, or at any time during that period was, a "contributing sponsor" or an "employer" as defined in Sections 4001(a)(13) and 3(5), respectively, of ERISA (each plan described in this clause (A) being a "Company ERISA Pension Plan"), (B) each other ERISA Pension Benefit Plan respecting which an ERISA Affiliate is, or at any time during that period was, such a "contributing sponsor" or "employer" (each plan described in this clause (B) being an "ERISA Affiliate Pension Plan") and (C) each other ERISA Employee Benefit Plan that is being, or at any time during that period was, sponsored, maintained or contributed to by the Company or any Company Subsidiary (each plan described in this clause (C) and each Company ERISA Pension Plan being a "Company ERISA Benefit Plan"), (ii) states the termination date of each Company ERISA Benefit Plan and ERISA Affiliate Pension Plan that has been terminated and (iii) identifies for each ERISA Affiliate Pension Plan the relevant ERISA Affiliates. The Company has provided ARS with (i) true, complete and correct copies of (A) each Company ERISA Benefit Plan and ERISA Affiliate Pension Plan, (B) each trust agreement related thereto and (C) all amendments to those plans and trust agreements. Except as accurately set forth in Schedule 2.25, (i) neither the Company nor any Company Subsidiary is, or at any time during the six-year period ended on the date hereof was, a member of any ERISA Group that currently includes, or included when the Company or a Company Subsidiary was a member, among its members any Person other than the Company and the Company Subsidiaries and (ii) no Person is an ERISA Affiliate of the Company or any Company Subsidiary (other than the Company or any Company Subsidiary in the case of any other Company Subsidiary or any Company Subsidiary in the case of the Company, if the Company and the Company Subsidiaries comprise an ERISA Group).

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