Purchased Entity Benefit Plan definition

Purchased Entity Benefit Plan means each Seller Benefit Plan that is (a) sponsored or maintained by a Purchased Entity or any of its Subsidiaries, including the plans to be adopted consistent with Section 5.2 of the Seller Disclosure Schedules or (b) maintained or contributed to by Seller or any of its Affiliates primarily for the benefit of the Business Employees or Former Business Employees (excluding, for avoidance of doubt, any Purchased Venture Benefit Plan).
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Purchased Entity Benefit Plan means any Benefit Plan solely sponsored, maintained or contributed to by, or for, any Purchased Entity, or any Benefit Plan that is an agreement that is entered into by a Purchased Entity with any Business Employee employed by a Purchased Entity.
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Purchased Entity Benefit Plan means any Benefit Plan solely sponsored, maintained or contributed to by, or for, any Purchased Entity.
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Examples of Purchased Entity Benefit Plan in a sentence

  • This raises several questions for me related to fidelity and monitoring of the effectiveness of the activities.

  • Except as would not reasonably be expected to be, individually or in the aggregate, material to the Business, all contributions, premiums and expenses required to be made or due by Law or by the terms of a Purchased Entity Benefit Plan or a Seller Benefit Plan, as it relates to the Business Employees, or any agreement relating thereto have been timely made.

  • Seller has made available to Purchaser prior to the date hereof correct and complete copies of the summary plan descriptions (or other written description of the material terms) with respect to each material International Purchased Entity Benefit Plan and each material Seller Benefit Plan.

  • The VDR Storage Device contains correct and complete copies of each Purchased Entity Benefit Plan (or, if no such copy exists, a written description thereof) and, to the extent applicable, any related trust agreement or other funding instrument and the most recent audited financial statements and actuarial valuation reports relating to such Purchased Entity Benefit Plan.

  • Seller has made available to Purchaser correct and complete copies of each such Purchased Entity Benefit Plan (or, if no such copy exists, a written description thereof) and any summary plan descriptions.

  • No Purchased Entity Benefit Plan is a “single-employer plan” within the meaning of Section 4001(a)(15) of ERISA, a “multiple employer plan” within the meaning of Section 413(c) of the Code, or a “multiple employer welfare arrangement” within the meaning of Section 3(40) of ERISA.

  • No Purchased Entity Benefit Plan is a benefit plan that is subject to Section 302 or Title IV of ERISA or Section 412 or 430 of the Code (including any multiemployer plan (as defined in Section 3(37) of ERISA)).

  • With respect to each Seller Benefit Plan that is not a Purchased Entity Benefit Plan, Seller has made available to the Purchasers the most recent summary plan description or a written description of the plan’s material terms.

  • To the extent a Purchased Entity Benefit Plan is not required to be funded by applicable Law and is not funded, there shall be no transfer of assets from Seller or its Affiliates.

  • Seller shall take all actions reasonably necessary to cause the individuals who are not Business Employees or Former Business Employees (or the eligible dependents or beneficiaries thereto) to cease participating in any Purchased Entity Benefit Plans from and after the Closing, and except as otherwise contemplated by this Article VI, shall not cause a Former Business Employee to become covered by a newly established Purchased Entity Benefit Plan.


More Definitions of Purchased Entity Benefit Plan

Purchased Entity Benefit Plan means each Seller Benefit Plan that is (a) sponsored or maintained by a Purchased Entity or any of its Subsidiaries, or (b) identified as a Purchased Entity Benefit Plan on Section 3.19(a) of the Seller Disclosure Schedules.
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Purchased Entity Benefit Plan each Benefit Plan identified as a Purchased Entity Benefit Plan on Section 3.15(b) of the Seller Disclosure Schedules, including any Benefit Plan solely sponsored, maintained or contributed to by any Purchased Entity or any Benefit Plan transferred to a Purchased Entity in connection with the transactions contemplated by this Agreement as set forth on Section 5.12 of the Seller Disclosure Schedules regarding the Pre-Closing Reorganization.
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Related to Purchased Entity Benefit Plan

  • 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 Benefit Plan has the meaning specified in Section 4.13(a).

  • 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 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;

  • Parent Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, 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 maintained, contributed to, or required to be contributed to, by Parent or any Affiliate for the benefit of any Parent Employee;

  • Defined Benefit Plan means either a plan described in Section 3(35) of ERISA or a plan subject to the minimum funding standards set forth in Section 302 of ERISA and Section 412 of the Code.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Benefit Plan Investor means an “employee benefit plan” as defined in Section 3(3) of ERISA that is subject to Title I of ERISA, a “plan” as defined in and subject to Section 4975 of the Code or an entity whose underlying assets include plan assets of any of the foregoing.