Plan Liability definition

Plan Liability means any and all liabilities under (i) Title IV of ERISA, (ii) Section 302 of ERISA, (iii) Sections 412 and 4971 of the Code, (iv) the continuation coverage requirements of Section 601 et. seq. of ERISA and Section 4980B of the Code, or (v) any other provision of ERISA or the Code.
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Plan Liability means any and all liabilities or losses under (a) Title IV of ERISA, (b) Section 302 of ERISA, (c) Sections 162(m), 280G, 409A, 412 and 4971 of the Code, (d) the continuation coverage requirements of Section 601 et. seq. of ERISA and Section 4980B of the Code, (e) any other provision of ERISA or the Code or (f) any Employee Plan to the extent not fully covered by an insurance policy or fully expensed on the financial statements of the Employee Plan’s sponsor (including liabilities for failure to comply with Sections 401 or 501 of the Code).
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Plan Liability means any liability for: (1) any contributions required to be made at any time to the Obstetrical Money Purchase Pension Plan, the ProCare 401(k) Plan, or the Horizon 401(k) Plan in lieu of the ProCare 401(k) Plan, or with respect to any such plan if the plan has been terminated before the date of such payment, under the Code, ERISA, or the plan documents, based on any period of service of, or compensation paid to, any Obstetrical or ProCare employee before the Closing Date; (2) any income or excise tax required to be paid by ProCare, Horizon, the Horizon 401(k) Plan, or any participant or former participant in the Obstetrical Money Purchase Pension Plan, the ProCare 401(k) Plan, or the Horizon 401(k) Plan under the Code and/or the tax law of any state, because of the disqualification under Section 401(a) of the Code and/or a corresponding provision of any state tax law, of any or all of the Obstetrical Money Purchase Pension Plan, the ProCare 401(k) Plan, or the Horizon 401(k) plan, on account, wholly or partially, of any act or omission of Obstetrical, ProCare, the owners, officers, or executives of Obstetrical or ProCare, or any fiduciary of either the Obstetrical Money Purchase Pension Plan or the ProCare 401(k) Plan (provided that such act or omission occurred prior to the Closing Date), and any interest or penalties with respect to any such tax liability, or any monetary sanction paid to the Internal Revenue Service and/or to any state taxing authority to avoid such
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Examples of Plan Liability in a sentence

  • If the Current Trust Asset Value at the time of the calculation exceeds 150% of the dollar amount of the Aggregate Plan Liability and the Trustee is requested to do so by Nordson, the Trustee shall pay the amount of any such excess over 150% to Nordson.

  • After the occurrence of a Change of Control, all determinations of the Aggregate Plan Liability shall be reasonably made by the Trustee and may be based on the determination of one or more qualified independent actuaries, consultants, or other experts retained by the Trustee for that purpose.

  • If the Current Trust Asset Value at the time of the calculation exceeds 150% of the dollar amount of the Aggregate Plan Liability and the Trustee is requested to do so by Key, the Trustee shall pay the amount of any such excess over 150% to Key.

  • From time to time after the third anniversary of the first Change of Control occurring after the execution of this Trust Agreement, if and when requested by Nordson to do so, the Trustee shall engage the services of the Accounting Firm, at the expense of Nordson, to determine the Aggregate Plan Liability (as defined in Section 15.2).

  • After the occurrence of a Change of Control, all determinations of the Aggregate Plan Liability (as defined in Section 15.2) shall be made by the Trustee and may be based on the determination of one or more qualified independent actuaries, consultants, or other experts retained by the Trustee for that purpose.

  • From time to time after the third anniversary of the first Change of Control occurring after the execution of this Trust Agreement, if and when requested by Key to do so, the Trustee shall engage the services of the Accounting Firm, at the expense of Key, to determine the Aggregate Plan Liability (as defined in Section 15.2).

  • The early or late retirement factors used to determine the amount of the Retained Altria Pension Plan Liability that will be used as an offset to the Assumed Altria Pension Plan Liability shall be based on the entitlement of the Kraft Transferee as of the Initial Altria Calculation Date to a vested, early, full or deferred retirement allowance, as applicable, under the appropriate Altria Pension Plan.

  • Altria will calculate and notify Kraft in writing of the amount of the Retained Altria Pension Plan Liability for each Kraft Transferee as soon as practicable following the Distribution Date.

  • The parties acknowledge that the calculation of Pension Plan Liability for purposes of Section 8.01(d) shall be determined solely in accordance with that Section and the definition of Pension Plan Liability.

  • The benefit determined pursuant to the Assumed Altria Pension Plan Liability, as adjusted pursuant to the provisions of the preceding two sentences and payable from the appropriate Kraft Pension Plan shall be offset by the benefit determined pursuant to the Retained Altria Pension Plan Liability (and determined in accordance with the applicable Altria Pension Plan) payable from the relevant Altria Pension Plan as of the age at which the offset is applied.


More Definitions of Plan Liability

Plan Liability. As defined in Section 9.1.
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Related to Plan Liability

  • UK Bail-in Liability means a liability in respect of which the UK Bail-in Powers may be exercised.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Unfunded Pension Liability means the excess of a Pension Plan's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan's assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

  • Risk Participation Liability means, as to each Letter of Credit, all reimbursement obligations of Borrowers to the Issuing Lender with respect to an L/C Undertaking, consisting of (a) the amount available to be drawn or which may become available to be drawn, (b) all amounts that have been paid by the Issuing Lender to the Underlying Issuer to the extent not reimbursed by Borrowers, whether by the making of an Advance or otherwise, and (c) all accrued and unpaid interest, fees, and expenses payable with respect thereto.

  • Controlled Group Liability means any and all liabilities (i) under Title IV of ERISA, (ii) under Section 302 of ERISA, (iii) under Sections 412 and 4971 of the Code, and (iv) as a result of a failure to comply with the continuation coverage requirements of Section 601 et seq. of ERISA and section 4980B of the Code.