U.S. Employee Benefits. (a) (1) Each US Credit Party and each ERISA Affiliate have complied in all material respects with all applicable laws regarding each Plan; (A) each Plan is, and has been, maintained and administered in substantial compliance with its terms, applicable collective bargaining agreements, and all applicable laws; and (B) no act, omission or transaction has occurred which could result in an imposition on any US Credit Party or any ERISA Affiliate (whether directly or indirectly) of (C) either a civil penalty assessed pursuant to Subsections (c), (i) or (l) of Section 502 of ERISA or a tax imposed pursuant to Chapter 43 of Subtitle D of the Code or (D) breach of fiduciary duty liability damages under Section 409 of ERISA which could reasonably be expected to have a Material Adverse Effect.
U.S. Employee Benefits. (i) All PEO Compensation and Benefit Plans covering U.S. Transferred Employees ("U.S. PEO Compensation and Benefit Plans") are in substantial compliance with all applicable law, including the Code and ERISA. Each U.S. PEO Compensation and Benefit Plan that is a Pension Plan and that is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the Internal Revenue Service, and to the Knowledge of PEO, there are no circumstances likely to result in revocation of any such favorable determination letter.
U.S. Employee Benefits. (a) Each US Credit Party and each ERISA Affiliate have complied in all material respects with all applicable laws regarding each Plan. Each Plan is, and has been, maintained and administered in substantial compliance with its terms, applicable collective bargaining agreements, and all applicable laws. No act, omission or transaction has occurred which could result in an imposition on any US Credit Party or any ERISA Affiliate (whether directly or indirectly) of (A) either a civil penalty assessed pursuant to Subsections (c), (i) or (l) of Section 502 of ERISA or a tax imposed pursuant to Chapter 43 of Subtitle D of the Code or (B) breach of fiduciary duty liability damages under Section 409 of ERISA which, in any case, could reasonably be expected to have a Material Adverse Effect.
U.S. Employee Benefits. 81 Section 5.10
U.S. Employee Benefits. (A) This Warranty 24 shall apply solely to the U.S. Group.
U.S. Employee Benefits. (a) Except as could not reasonably be expected to have a Material Adverse Effect, (i) each US Credit Party and each ERISA Affiliate has complied with all applicable laws regarding each Plan and (ii) each Plan is, and has been, maintained and administered in compliance with its terms, applicable collective bargaining agreements, and all applicable laws. No act, omission or transaction has occurred which could result in an imposition on any US Credit Party or any ERISA Affiliate (whether directly or indirectly) of (A) either a civil penalty assessed pursuant to Subsections (c), (i) or (l) of Section 502 of ERISA or a tax imposed pursuant to Chapter 43 of Subtitle D of the Code or (B) breach of fiduciary duty liability damages under Section 409 of ERISA which, in any case, could reasonably be expected to have a Material Adverse Effect.
U.S. Employee Benefits. (i) For purposes of this Section 3.16, the following terms have the definitions given below:
U.S. Employee Benefits. 20.1 At Completion, the Buyer shall offer employment to all US Employees listed on Schedule 2, Part B on the same terms and conditions and for the same positions as such US Employees are employed by the US Seller immediately prior to Completion. As at Completion (the “Continuation Period”), the Buyer shall provide each Transferred U.S. Employee with (i) an annual base salary or wage level, as applicable, and annual cash incentive opportunities that are at least equal to those provided to each such Transferred U.S. Employee immediately prior to Completion and (ii) employee benefits (including, but not limited to, equity-based compensation, benefits pursuant to qualified and nonqualified retirement and savings plans) that are substantially comparable to those provided to each such Transferred U.S. Employee immediately prior to Completion.
U.S. Employee Benefits. (a) Except as has not had, and would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on the Company, each Company Plan complies in all respects with the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), the Code and all other applicable statutes and governmental rules and regulations. Neither the Company nor any of its ERISA Affiliates has withdrawn from any Multiemployer Plan or instituted, or is currently considering taking, any action to do so. Neither the Company nor any ERISA Affiliate of the Company sponsors, maintains or contributes to, or has in the past sponsored, maintained or contributed to, any Company Plan subject to Title IV of ERISA.
U.S. Employee Benefits. (1) Except as would not reasonably be expected to have a Material Adverse Effect, each Plan is in compliance with the applicable provisions of ERISA and the IRC. Except as would not reasonably be expected to have a Material Adverse Effect, neither any Loan Party nor ERISA Affiliate has failed to make any contributions or pay any amount due as required by either Section 412 of the IRC or Section 302 of ERISA or the terms of any such Title IV Plan. No Loan Party has engaged in a “prohibited transaction” as defined in Section 406 of ERISA and Section 4975 of the IRC, in connection with any Plan, that would subject any Loan Party to a material tax on prohibited transactions imposed by Section 502(i) of ERISA or Section 4975 of the IRC in an amount that would reasonably be expected to have a Material Adverse Effect.
