Purchaser Benefit Plan definition

Purchaser Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Purchaser or any of its Subsidiaries or with respect to which Purchaser or any of its Subsidiaries is a party and in which any Employee is or becomes eligible to participate or derive a benefit.

Purchaser Benefit Plan has the meaning set forth in Section 6.10(c).

Purchaser Benefit Plan means each Benefit Plan sponsored, maintained or contributed to by Purchaser or any of its Affiliates or with respect to which Purchaser or any of its Affiliates is a party or has any liability to and in which any Transferred Employee, or any beneficiary thereof, is or becomes eligible to participate or derive a benefit on or after the Closing Date.

Examples of Purchaser Benefit Plan in a sentence

• Purchaser shall also cause any Purchaser Benefit Plan in which the Company Employees are eligible to participate and which is intended to be qualified under Section 401(a) of the Code to accept rollovers, including loan rollovers, from any Benefit Plan that is intended to be qualified under Section 401(a) of the Code.

• Purchaser shall or shall cause its Affiliates to recognize the service of the Company Employees with Seller and its Affiliates for all employment, including Purchaser Benefit Plan, purposes, except (x) to the extent that such recognition would result in the duplication of benefits, or (y) with respect to benefit accruals under qualified and nonqualified defined benefit pension plans.

• Notwithstanding anything in this Article VII to the contrary, nothing contained herein, whether express or implied, shall be treated as an establishment, amendment or other modification of any Seller Benefit Plan or any Purchaser Benefit Plan, or shall limit the right of Purchaser or any of its Affiliates to amend, terminate or otherwise modify any Assumed Benefit Plan, Purchaser Benefit Plan or other employee Benefit Plan following the Closing Date.

More Definitions of Purchaser Benefit Plan

Purchaser Benefit Plan means each Employee Benefit Plan that is maintained, administered or contributed to by Purchaser or its Affiliates in respect of the operation of the Facility after the Closing and that covers the Transferred Employees or any other employees of Purchaser or any of its Affiliates similarly situated to the Transferred Employees.

Purchaser Benefit Plan means any Benefit Plan that is or will be contributed to or required to be contributed to, or sponsored or maintained by Purchaser or any of its Subsidiaries or Affiliates or under which Purchaser or any of its Subsidiaries or Affiliates has any Liability, including any Benefit Plan that is established, adopted or entered into pursuant to Section 5.4.

Purchaser Benefit Plan means any “employee benefit plan” within the meaning of Section 3(3) of ERISA (whether or not subject to ERISA) and any employment, retention, profit-sharing, bonus, stock option, stock purchase, restricted stock and other equity- or equity-based, incentive, deferred compensation, severance, termination or other benefit plan, program, policy, agreement or arrangement sponsored, maintained or contributed to by Purchaser or any of its Subsidiaries or any of their respective ERISA Affiliates, other than any Multiemployer Plan.

Purchaser Benefit Plan is defined in Section 7.01(b).

Purchaser Benefit Plan means any Plan to which the Purchaser or any Affiliate is a party, or with respect to which the Purchaser or any Affiliate has any Liabilities or that are maintained, contributed to or sponsored by the Purchaser or any Affiliate, in each case for the benefit of any current or former employees, directors or independent contractors of the Purchaser or any Affiliate and/or their spouses, dependents or beneficiaries.

Purchaser Benefit Plan means each employee benefit plan that is maintained, administered or contributed to by Purchaser or its Affiliates in respect of the Business after the Closing or that covers the Transferred Employees, Union Employees or any other employees of Purchaser or any of its Affiliates similarly situated to the Transferred Employees or Union Employees.

Purchaser Benefit Plan has the meaning set forth in Section 3.17(a).