Assumed Benefit Plan definition

Assumed Benefit Plan means any Business Employee Benefit Plan for which liabilities and/or assets transfer to Buyer or its Affiliates under applicable Law as a result of the Transactions.

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Assumed Benefit Plan has the meaning provided in Section 4.13(d).

Assumed Benefit Plan means each Employee Benefit Plan or portion thereof (i) sponsored by one of the Purchased Companies as of the Closing, (ii) that Purchaser or any of its Affiliates has expressly agreed to assume pursuant to Article VII of this Agreement or (iii) that Purchaser or any of its Affiliates is required to assume under applicable Laws or any applicable Union Contract; provided however, that no defined UK Pension Scheme is an Assumed Benefit Plan.

Examples of Assumed Benefit Plan in a sentence

The Assigned Contracts shall include, without limitation, any contracts or similar arrangements with vendors and other providers relating to any Assumed Benefit Plan.
The Acquired Assets shall include, without limitation, any Assumed Benefit Plan and any assets that are set aside in trust or otherwise, or insurance policies or other funding vehicles to be used, for the purpose of paying any liabilities relating to any such Assumed Benefit Plan.
Nothing in this Article VII, expressed or implied, shall be construed to prevent Purchaser from terminating or modifying to any extent or in any respect any Purchaser Benefit Plan or Assumed Benefit Plan.
With respect to each Business Benefit Plan that is not an Assumed Benefit Plan and that is required to be listed on Section 4.09-1 of the Seller Disclosure Letter, Seller has made available to Purchaser the most recent summary plan description.
No US Pension Plan shall be an Assumed Benefit Plan and Parent and its Affiliates shall indemnify and hold harmless Purchaser and its Affiliates with respect to all Liabilities arising in connection with any US Pension Plan.

More Definitions of Assumed Benefit Plan

Assumed Benefit Plan means any Benefit Plan or any portion thereof, (a) that is contributed to, maintained or sponsored by any of the Acquired Subsidiaries, or (b) any assets or liabilities of which (i) Purchaser has explicitly agreed to assume pursuant to this Agreement or (ii) will be transferred to Purchaser or its Affiliates under applicable Law as a result of the Transactions.

Assumed Benefit Plan means (i) the Indigo SARs and Naspers Rollover RSUs, to the extent that Monsoon is explicitly assuming the Liabilities with respect to such awards pursuant to Section 7.07 of this Agreement, and (ii) each Indigo Business Benefit Plan that Monsoon or any Monsoon Subsidiary (including any Indigo Group Company following the Closing) is required to assume under applicable Law or any applicable individual employment agreement, other than, in each case, those Indigo Business Benefit Plans identified on Section 4.11(a) of the Indigo Parent Disclosure Letter with an asterisk.

Assumed Benefit Plan means any Benefit Plan (or portion thereof): (a) that is maintained or sponsored by any of the Transferred Entities; or (b) for which liabilities or assets transfer to Buyers or their respective Affiliates under applicable Law (or pursuant to the transfer of the Shares) or any Labor Contract as a result of the transactions contemplated by this Agreement.

Assumed Benefit Plan has the meaning specified in Section 4.09, including the Transferred Pension Plans.

Assumed Benefit Plan means (a) any Assumed Peabody Benefit Plan and (b) any Assumed Arch Benefit Plan.

Assumed Benefit Plan means any Business Employee Benefit Plan (a) that is maintained or sponsored by a Transferred Company or (b) for which assets or liabilities or obligations (contingent or otherwise) transfer to Buyer or its Affiliates pursuant to this Agreement or under applicable Law as a result of the Sale, but, in each case of clause (a) and clause (b), excluding the Short Brothers Pension Scheme, which shall be dealt with in accordance with the provisions of Schedule 8.02 to the Disclosure Letter.

Assumed Benefit Plan means any Business Employee Benefit Plan (a) that is maintained or sponsored by a Transferred Company or (b) for which liabilities and/or assets transfer to Buyer or its Affiliates under applicable Law as a result of the transactions contemplated by this Agreement.