Acquired Benefit Plan definition

Acquired Benefit Plan means each Business Benefit Plan identified on Section 4.20(c) of the Seller Disclosure Schedule as an Acquired Benefit Plan and sponsored, maintained or contributed to by an Acquired Company as of the Closing Date.
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Acquired Benefit Plan means any Company Benefit Plan set forth on Schedule 3.12(a), other than any Excluded Benefit Plan.
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Examples of Acquired Benefit Plan in a sentence

  • Except as delivered to Apollo in the foregoing documents, neither the Sellers nor any of their Affiliates (including the Subject Companies) have made a commitment to adopt, amend or terminate any Acquired Benefit Plan.

  • No Acquired Benefit Plan is subject to Title IV of ERISA and no Subject Company or any ERISA Affiliate thereof has, at any time during the last six (6) years, contributed to or been obligated to contribute to any plan that is (i) subject to Title IV or (ii) a “multiemployer plan” within the meaning of Section 4001(a)(3) of ERISA or a plan that has two or more contributing sponsors at least two of whom are not under common control, within the meaning of Section 4063 of ERISA.

  • For the avoidance of doubt, (a) a claim is incurred when the event giving rise to the claim takes place; specifically, in the case of the health insurance plan, a claim is incurred on the date the medical service is rendered or prescription is filled, regardless of when that claim is submitted to the TPA for payment; and (b) in no event shall Seller be obligated to pay any health care costs incurred after the Closing Date under any Acquired Benefit Plan.

  • Buyer shall satisfy all claims incurred after the Closing Date for health care services covered by any Acquired Benefit Plan.

  • With respect to each Acquired Benefit Plan, Seller has made available to Buyer a true and complete copy of the plan document for each such Acquired Benefit Plan and any material amendments thereto (or, with respect to an Acquired Benefit Plan for which a plan document is not available or any oral Acquired Benefit Plan, a written description of such Acquired Benefit Plan).

  • Each Acquired Benefit Plan has been operated in compliance with its terms and with applicable Laws of the relevant jurisdiction in which such Acquired Benefit Plan is maintained and each Acquired Benefit Plan that is required to be registered with the applicable Governmental Entity (A) has been registered with such Governmental Entity and (B) to Seller’s Knowledge, there is no set of circumstances that would reasonably be expected to adversely affect such registration.

  • Buyer shall offer continued health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) under an Acquired Benefit Plan to any Business Employee who was covered under an Acquired Benefit Plan immediately prior to the Closing, does not become an Acquired Employee and experiences a qualifying event on or after the Closing Date.

  • No Acquired Benefit Plan that is an “employee welfare benefit plan” (as such term is defined under Section 3(1) of ERISA) has provided any “disqualified benefit” (as such term is defined in Section 4976(b) of the Code) with respect to which an excise tax could be imposed under Section 4976 of the Code.

  • The Seller and its ERISA Affiliates have complied in all material respects with the provisions of COBRA and, with respect to each Acquired Benefit Plan, with the requirements of the Health Insurance Portability and Accountability Act of 1996, as amended, and the regulations promulgated thereunder to the extent applicable to such plan.

  • All contributions that are due to an Acquired Benefit Plan have been made within the time periods prescribed by ERISA and the Code to each such Acquired Benefit Plan.

Related to Acquired Benefit Plan

  • Qualified Benefit Plan has the meaning set forth in Section 3.20(c).

  • Parent Benefit Plan means an Employee Benefit Plan sponsored, maintained, or contributed to (or required to be contributed to) by Parent or any of its Subsidiaries, or under or with respect to which Parent or any of its Subsidiaries has any current or contingent liability or obligation.

  • Business Benefit Plan means each Benefit Plan that is contributed to, sponsored, maintained or entered into by Seller or a Retained Subsidiary, a Purchased Subsidiary or any Affiliate of any of them for the benefit of any Business Employee.

  • Defined Benefit Plan means either a plan described in Section 3(35) of ERISA or a plan subject to the minimum funding standards set forth in Section 302 of ERISA and Section 412 of the Code.

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Seller Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Seller or any of its Subsidiaries or with respect to which Seller or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Canadian Benefit Plan means any plan, fund, program, or policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing material employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings benefits, under which any Borrower has any liability with respect to any employee or former employee, but excluding any Canadian Pension Plans.

  • Defined Benefit Plan Fraction means a fraction, the numerator of which is the projected annual benefit (determined as of the close of the relevant Plan Year) of the Participant under all Defined Benefit Plans maintained by one or more Related Companies, and the denominator of which is the lesser of (i) the product of 1.25 multiplied by the dollar limitation in effect under Section 415(b)(1)(A) of the Code for the Plan Year, or (ii) the product of 1.4 multiplied by the amount which may be taken into account under Section 415(b)(1)(B) of the Code with respect to the Participant for the Plan Year.

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Seller Benefit Plans has the meaning set forth in Section 4.8(a).

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.

  • Company Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, deferred compensation, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written or unwritten or otherwise, funded or unfunded, including without limitation, each "employee benefit plan," within the meaning of Section 3(3) of ERISA which is or has been maintained, contributed to, or required to be contributed to, by the Company or any Affiliate for the benefit of any Employee, or with respect to which the Company or any Affiliate has or may have any liability or obligation;

  • Company Benefit Plans has the meaning set forth in Section 3.16(a).

  • Company Employee Benefit Plan means each Employee Benefit Plan that is maintained, sponsored or contributed to (or required to be contributed to) by any of the Group Companies or under or with respect to which any of the Group Companies has any Liability.

  • Benefit Plan means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject to Title I of ERISA, (b) a “plan” as defined in Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.

  • Purchaser Benefit Plans has the meaning set forth in Section 8.7(d).

  • Canadian Benefit Plans means all material employee benefit plans of any nature or kind whatsoever that are not Canadian Pension Plans and are maintained or contributed to by any Credit Party having employees in Canada.

  • Employee Pension Benefit Plan has the meaning set forth in ERISA Section 3(2).

  • Company Plan means any Benefit Plan: (i) under which any current or former director, officer, employee, consultant or independent contractor of the Company has any present or future right to benefits and that is maintained, sponsored or contributed to by the Company; or (ii) with respect to which the Company has any Liability.

  • Parent Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, performance awards, stock or stock-related awards, fringe benefits or other employee benefits or remuneration of any kind, whether written or unwritten or otherwise, funded or unfunded, including without limitation, each "EMPLOYEE BENEFIT PLAN," within the meaning of Section 3(3) of ERISA which is maintained, contributed to, or required to be contributed to, by Parent or any Affiliate for the benefit of any Parent Employee;

  • Company Employee Plans has the meaning set forth in Section 3.12(a).