Benefit Plans of Buyer definition

Benefit Plans of Buyer shall have the meaning set forth in Section 7.11(d) hereof.
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Examples of Benefit Plans of Buyer in a sentence

  • The Management Employees shall be given credit -------------- for all service with the Seller or its subsidiaries (and service credited by Seller or such subsidiary), to the same extent as such service was credited for such purpose by Seller or such subsidiary, under all employee benefit plans, programs and policies of the Buyer in which they become participants (the "Benefit Plans of Buyer") for purposes of eligibility, vesting, benefit accrual and determination of level of benefits.

  • Effective as of the Closing Date, Buyer shall cause ASFC to continue to maintain the ASFC Executives' Excess Compensation Pension Benefit Plan (or Benefit Plans of Buyer or ASFC that either are substantially equivalent or are at least as favorable in the aggregate to the ASFC Executives) and the ASFC Employees' Supplemental Pension Benefit Plan until at least the last day of the month that is 12 months after the month in which the Closing Date falls (the "Benefits Continuation Date").

  • Buyer shall provide the Transferred Employees with the employee benefits being provided to Buyer's own employees, subject to the terms of those Employee Benefit Plans of Buyer (the "Buyer's Employee Benefits"), and shall credit Transferred Employees' service with Seller for purposes of eligibility and vesting under all of Buyer's welfare benefit plans and qualified pension and profit sharing plans to the extent that such service credit would be relevant.

  • For the avoidance of doubt, Buyer Parent may meet its obligations pursuant to this Article 7 under the Transferred Entity Benefit Plans or under new or existing Benefit Plans of Buyer, in Buyer Parent’s sole discretion.

  • Any reference in this Agreement to one or more Employee Benefit Plans of Buyer includes provisions, if any, in such plans permitting their termination or amendment and any covenant in this Agreement to provide any Employee Benefit Plan shall not be deemed or construed to limit Buyer’s right to terminate or amend such plan of Buyer in accordance with its terms.

  • Buyer will take into account all service of the Continued Employees with Sellers prior to the Closing Date for purposes of participation and vesting under the Benefit Plans of Buyer, but will not take such services into account for the purpose of calculating any benefit under Buyer's pension and excess benefit plans.

  • Notwithstanding anything herein to the contrary, after the Effective Time, Seller and Seller’s Affiliate shall not be liable to Buyer or its Affiliates or any Transferred Employees or any other Person for any obligations arising out of participation by Transferred Employees in the Employee Benefit Plans of Buyer or any Buyer’s Affiliate.

  • Employee Benefit Plans of Buyer or its Affiliates (“Buyer Plans”) shall be responsible for the payment of benefits to Transitioned Employees and their dependents or beneficiaries for claims incurred under such Buyer Plans on or after the Effective Time.

  • At the end of each such plan year, Buyer presently intends to transfer such employees to a corresponding Employee Benefit Plans of Buyer (or its Parent) if a corresponding plan exists.

  • As soon as administratively practicable after the Closing Date, Buyer shall provide that employees of Target who become employees of Buyer or one of its Subsidiaries shall be entitled to participate in the Employee Benefit Plans of Buyer.

Related to Benefit Plans of Buyer

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

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

  • Seller Employee Plan means any plan, program, policy, practice, Contract 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, unwritten or otherwise, funded or unfunded, including each "employee benefit plan," within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by the Seller or any Seller Affiliate for the benefit of any Seller Employee, or with respect to which the Seller or any Seller Affiliate has or may have any liability or obligation, except such definition shall not include any Seller Employee Agreement.

  • Seller Plans has the meaning set forth in Section 3.13(a).

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

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).

  • Employee Plans means all Benefit Arrangements, Multiemployer Plans, Pension Plans and Welfare Plans.

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

  • Seller Plan means any Employee Benefit Plan that is maintained or sponsored by the Seller or any Subsidiaries of the Seller (other than the Companies and their Subsidiaries) for the benefit of any current or former NewCo Employee.

  • Company Plans shall have the meaning set forth in Section 3.14(a).

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Buyer Plans has the meaning set forth in Section 6.02(b).

  • Benefit Plans shall have the meaning set forth in Section 3.13(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 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;

  • 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”.

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

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Company Contracts has the meaning set forth in Section 3.13(a).

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

  • Retained Contracts shall have the meaning set forth in Section 1.2(i).

  • Transferred Contracts has the meaning ascribed to it in Section 2.1(c).

  • Seller’s Closing Documents as defined in Section 3.2(a).

  • Seller Contracts means all contracts, agreements and leases, other than those that are Governmental Permits, to which Seller is a party and pertain to the ownership, operation or maintenance of the Assets or the Business, including those described on Schedule 1.8.

  • 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.

  • Seller Entities means the Seller and its affiliates other than the Buyer Entities;