Current Benefit Plan definition
Examples of Current Benefit Plan in a sentence
This will reduce based on age and retirement as set out in the Current Benefit Plan.
Schedule B to the most recent annual report filed with the IRS with respect to each Benefit Plan to which the Borrower or any ERISA Affiliate is currently obligated to contribute ("Current Benefit Plan") and furnished to the Lender is complete and accurate.
Since the date of the latest Schedule B, there has been no material adverse change in the funding status or financial condition of any Current Benefit Plan relating to such Schedule B.
Each Current Benefit Plan intended to be qualified under Code Section 401 (i) satisfies in form the requirements of such Section, (ii) is a standardized prototype which does not require an individual favorable determination letter from the IRS, (iii) has not, since adoption of the prototype, been amended and (iv) has not been operated in a way that would adversely affect its qualified status.
Each Current Benefit Plan intended to be qualified under Code Section 401 (i) satisfies in form the requirements of such Section, (ii) has received a favorable determination letter from the IRS regarding such qualified status, (iii) except as set forth in Section 5.13(c)(iii) of the Acquiror's Disclosure Letter, has not, since receipt of the most recent favorable determination letter, been amended and (iv) has not been operated in a way that would adversely affect its qualified status.
Company Plan" shall mean any Current Benefit Plan or Past Benefit Plan of the Company or any of its subsidiaries.
To the Knowledge of the Company, except as described in SCHEDULE 2.13(b), each Current Benefit Plan has been maintained and administered during the past six years in material compliance with its terms and with all applicable Law, including ERISA, the Code and federal and state securities Laws.
Each Current Benefit Plan complies and is being operated and administered in full compliance with, and each Company Plan has at all times complied and been operated and administered in full compliance with, all applicable reporting, disclosure and other requirements of ERISA and the Code and all other applicable Legal Requirements in all material respects.
No UT employee or person claiming benefits under a Current Benefit Plan by reason of his or her relationship to a UT employee will have any right to continue to earn or receive benefits under any Current Benefit Plan following the Closing Date under any federal or state law relating to benefit continuation.
There are no amendments to any Current Benefit Plan (or the establishment of any new Benefit Plan) that have been adopted or approved nor has the Company or any of its Subsidiaries undertaken or committed to make any such amendments or to adopt or approve any new plans in each case that would materially increase the costs to the Company, except as set forth on Section 4.9(a) of the Company Disclosure Schedule.