Assumed Employee Plan definition

Assumed Employee Plan means the Severance Arrangements, and any Employee Plan sponsored exclusively by any Transferred Entity and, if material, that is identified as such on Schedule 3.11.

Assumed Employee Plan means each Employee Plan listed on Section 2.01(h) of the Seller Disclosure Letter.

Assumed Employee Plan means each Employee Plan (i) sponsored by the Company or the Transferred Subsidiary as of the Closing Date, (ii) that the Acquiror or any of its Affiliates has explicitly agreed to assume pursuant to this Agreement or (iii) that the Acquiror or any of its Affiliates is required to assume under applicable Law or any applicable collective bargaining agreement; provided, however, that no Employee Plan shall be an Assumed Employee Plan unless it is set forth on Section 3.14(a)(ii) of the Disclosure Letter.

Examples of Assumed Employee Plan in a sentence

• Subject to Law, unless otherwise specifically provided in this Agreement, including this Article VII, no provision of this Agreement shall constitute a limitation on rights to amend, modify or terminate, either before or after Closing, any such Employee Plan (including any Assumed Employee Plan).

• Correct and complete copies of each Assumed Employee Plan and the following documents, if applicable, have been made available to Purchaser: (A) the most recent trust agreement and all amendments thereto, (B) the most recent Forms 5500, (C) the most recent actuarial valuation, and (D) the most recent IRS determination letter.

• With respect to each such Employee Plan or Assumed Employee Plan, service with Crown or any Crown Subsidiary (as applicable) and the predecessor of any of them by any Hired Employee shall be included for purposes of determining eligibility to participate, vesting (if applicable) and determination of the level of entitlement to, benefits under such Employee Plan; provided, however, that such service shall not be included for purposes of benefit accrual under any Pension Plan.

• No Assumed Employee Plan provides or is obligated to provide health, life insurance or other welfare benefits to any Person who is not an Identified Employee or former employee of the Transferred Entities (or dependent thereof).

• Except as otherwise specifically provided in this Agreement or as required by the Employee Plans, all MCC Business Employees will cease, effective as of the Closing Date, any participation in, and any benefit accrual under, each Employee Plan that is not an Assumed Employee Plan.

More Definitions of Assumed Employee Plan

Assumed Employee Plan has the meaning given to it in Section 6.02(a).

Assumed Employee Plan means the Emerald-Sapphire Retention Program, the Severance Arrangements, and any Employee Plan sponsored exclusively by any Transferred Entity and, if material, that is identified as such on S chedule 3.11.

Assumed Employee Plan shall have the meaning set forth in Section 3.15(e).

Assumed Employee Plan means any Employee Plan listed on Schedule 2.1(g).

Assumed Employee Plan means any Employee Plan set forth on Schedule 6.09(b)(ii).

Assumed Employee Plan means any Employee Plan listed on Schedule 2.1(g). “Assumed Liabilities” has the meaning set forth in Section 2.3(a).

Assumed Employee Plan has the meaning given to it in Section 6.02(a). “Assumed Liabilities” has the meaning given to it in Section 2.02(a).