Examples of Manitex Group in a sentence
The Parties shall take such additional or alternative actions as deemed necessary or advisable by Manitex in its sole discretion in order to effectuate the foregoing provisions of this Article in compliance with securities and Tax Laws and other legal requirements associated with equity-based incentive compensation awards or in order to avoid adverse legal, accounting or Tax consequences for the members of the Manitex Group, ASV or any award holders.
Effective as of the Effective Time, ASV has assumed liability for ASV Liabilities to the extent related to work-related injury or illness (including workers’ compensation claims, disability or other insurance providing medical care and/or compensation to injured workers)) and shall be obligated to reimburse the members of the Manitex Group in accordance with this Agreement with respect thereto.
Effective as of each applicable Benefit Plan Transfer Date, each ASV Employee shall become covered under the applicable ASV Welfare Plan, to the extent eligible and otherwise subject to all terms and conditions thereof, and shall cease to be covered under the Welfare Plan maintained by a member of the Manitex Group to which such ASV Welfare Plan most closely corresponds (such applicable plan, the applicable “Manitex Welfare Plan”).
The obligations of the Manitex Group and ASV to cooperate pursuant to this Section shall remain in effect until the later of (i) the date all audits of all Benefit Plans with respect to which a Party may have information have been completed or (ii) the date the applicable statute of limitations with respect to such audits has expired.
Except as otherwise specifically set forth in this Agreement, nothing in this Agreement shall require any member of the Manitex Group or any Manitex Welfare Plan to transfer assets or reserves with respect to the Manitex Welfare Plans to ASV or any ASV Welfare Plan.
In no event shall ASV be required to reimburse any member of the Manitex Group for any costs (i) that are charged directly to ASV in the ordinary course of business consistent with past practice or (ii) with respect to any Manitex Liabilities.
Subject to the Parties’ compliance with the remaining terms of this Agreement, nothing in this Agreement shall prevent ASV or any member of the Manitex Group from amending, merging, modifying, terminating, eliminating, reducing or otherwise altering in any respect any ASV Benefit Plan or Manitex Plan, any benefit under any ASV Benefit Plan or Manitex Plan or any trust, insurance policy or funding vehicle related to any ASV Benefit Plan or Manitex Benefit Plan, as applicable.