WRC U.S. Benefit Plans Clause Samples

WRC U.S. Benefit Plans are in substantial compliance with ERISA, the Code and other applicable Laws. Each WRC U.S. Benefit Plan which is subject to ERISA (a “WRC ERISA Plan”) that is an “employee pension benefit plan” within the meaning of Section 3(2) of ERISA (a “WRC Pension Plan”) intended to be qualified under Section 401(a) of the Code, has received a favorable determination or opinion letter from the Internal Revenue Service (the “IRS”) covering all tax Law changes prior to the Economic Growth and Tax Relief Reconciliation Act of 2001 or has applied to the IRS for such favorable determination letter within the applicable remedial amendment period under Section 401(b) of the Code, and WRC is not aware of any circumstances likely to result in the loss of the qualification of such Plan under Section 401(a) of the Code. Neither WRC nor any of its Subsidiaries has engaged in a transaction with respect to any ERISA Plan that, assuming the taxable period of such transaction expired as of the date of this Agreement, could subject WRC or any Subsidiary to a tax or penalty imposed by either Section 4975 of the Code or Section 502(i) of ERISA in an amount which would be material. Neither WRC nor any of its Subsidiaries has incurred or reasonably expects to incur a tax or penalty imposed by Section 4980F of the Code or Section 502 of ERISA or any material liability under Section 4071 of ERISA.