Purchaser Pension Plan definition

Purchaser Pension Plan shall have the meaning set forth in Section 6.2(i).
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Purchaser Pension Plan shall have the meaning set forth in Section 5.14(a) of this Agreement.
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Purchaser Pension Plan shall have the meaning specified in Section 5.5(d)(i).
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Examples of Purchaser Pension Plan in a sentence

  • Each Purchaser Pension Plan shall provide, upon the transfer of assets referred to below (or, if there is no transfer of assets with respect to a particular plan because the plan is not funded, as of the Closing), that the accrued benefits for the Transferred Pension Plan Employees under such Purchaser Pension Plan shall in no event be less than their accrued benefits under the corresponding Seller Pension Plan as of the Closing.

  • The Purchaser Pension Plan shall assume, as of the Closing, all liabilities under the Post Pension Plan for benefits earned by the Post Employees.

  • Purchaser shall offer the Transferred Seller Employees the opportunity to participate in the Purchaser Pension Plan effective as of the Closing Date.

  • No later than ten days after the Closing, Purchaser shall provide Dynegy with a written certification that the Purchaser Pension Plan satisfies each of the requirements set forth in this Section 6.2(a)(ii).

  • Purchaser shall be responsible for taking or causing to be taken all necessary, reasonable and appropriate action to establish, maintain and administer a Purchaser Pension Plan so that it qualifies under Section 401(a) of the Code and a Purchaser Pension Plan Trust that is exempt from Federal income taxation under Section 501(a) of the Code.

  • Except as set forth in Section 5.19 of the Purchaser Disclosure Schedule, no provision concerning the Purchaser Pension Plan is contained in any collective bargaining agreement affecting any current or former employees of any Purchaser Subsidiary.

  • Each Purchaser Pension Plan that is required to be qualified under Section 401(a) and Section 501(a) of the Code has received a determination letter to such effect and no event has occurred which is reasonably likely to result in the disqualification of any such Purchaser Pension Plan.

  • The Purchaser Pension Plan shall contain terms substantially similar to the terms of the Seller Pension Plan with respect to the final average pay component, consistent with the requirements under the applicable Collective Bargaining Agreements and shall provide that the service of the Pension Participants shall be recognized for all purposes to the extent such service was recognized under the Seller Pension Plan.

  • Effective as of the Closing, each Pension Participant shall cease to be a participant in the Seller Pension Plan and shall be eligible to participate in the Purchaser Pension Plan.

  • The Purchaser Pension Plan is registered under, and is in material compliance with, applicable Law.


More Definitions of Purchaser Pension Plan

Purchaser Pension Plan has the meaning set forth in Section 2.11.1.
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Purchaser Pension Plan has the meaning specified in Section 5.19.
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Purchaser Pension Plan has the meaning specified in Section 5.19. "Purchaser Property" means real or personal property or other asset owned, leased or operated by Purchaser.
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Related to Purchaser Pension Plan

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Multiemployer Pension Plan means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which Borrower or any member of the Controlled Group may have any liability.

  • Purchaser Benefit Plans has the meaning set forth in Section 8.7(d).

  • Canadian Pension Plan means any plan, program or arrangement that is a pension plan for the purposes of any applicable pension benefits legislation or any tax laws of Canada or a Province thereof, whether or not registered under any such laws, which is maintained or contributed to by, or to which there is or may be an obligation to contribute by, any Borrower or any Guarantor in respect of any Person’s employment in Canada with such Borrower or such Guarantor.

  • Parent Benefit Plan means any Employee Benefit Plan maintained by, sponsored by or contributed to by, or obligated to be contributed to by any Parent Group Entity.

  • Canadian Defined Benefit Pension Plan means a Canadian Pension Plan that contains or has ever contained a “defined benefit provision” as such term is defined in Section 147.1(1) of the Income Tax Act (Canada).

  • Parent Benefit Plans has the meaning set forth in Section 5.07(b).

  • Seller 401(k) Plan has the meaning set forth in Section 6(e) below.

  • Canadian Pension Plans means each pension plan required to be registered under Canadian federal or provincial law that is maintained or contributed to by a Credit Party for its employees or former employees, but does not include the Canada Pension Plan or the Quebec Pension Plan as maintained by the Government of Canada or the Province of Quebec, respectively.

  • Canadian Benefit Plan means any plan, fund, program or policy, whether oral or written, formal or informal, funded or unfunded, insured or uninsured, providing employee benefits, including medical, hospital care, dental, sickness, accident, disability, life insurance, pension, retirement or savings benefits, under which any Loan Party has any liability with respect to any of its employees or former employees employed in Canada, and includes any Canadian Pension Plan.

  • Buyer 401(k) Plan has the meaning set forth in Section 6.01(h).

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Canadian Benefit Plans means all material employee benefit plans of any nature or kind whatsoever that are not Canadian Pension Plans and are maintained or contributed to by any Credit Party having employees in Canada.

  • 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.

  • Foreign Pension Plan means any plan, fund (including, without limitation, any superannuation fund) or other similar program established or maintained outside the United States of America by the Borrower or any one or more of its Subsidiaries primarily for the benefit of employees of the Borrower or such Subsidiaries residing outside the United States of America, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of employment, and which plan is not subject to ERISA or the Code.

  • Buyer Benefit Plans has the meaning set forth in Section 6.10(f).

  • Purchaser Plans shall have the meaning set forth in Section 6.6(a)(v).

  • Seller Benefit Plans has the meaning set forth in Section 4.8(a).

  • Seller Employee Plan means any plan, program, policy, practice, Contract 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, unwritten or otherwise, funded or unfunded, including each “employee benefit plan,” within the meaning of Section 3(3) of ERISA (whether or not ERISA is applicable to such plan), that is or has been maintained, contributed to, or required to be contributed to, by the Seller or any Seller Affiliate for the benefit of any Seller Employee, or with respect to which the Seller or any Seller Affiliate has or may have any liability or obligation, except such definition shall not include any Seller Employee Agreement.

  • 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;

  • Pension Benefit Plan means at any time any employee pension benefit plan (including a Multiple Employer Plan, but not a Multiemployer Plan) which is covered by Title IV of ERISA or is subject to the minimum funding standards under Section 412 of the Code and either (i) is maintained by any member of the Controlled Group for employees of any member of the Controlled Group; or (ii) has at any time within the preceding five years been maintained by any entity which was at such time a member of the Controlled Group for employees of any entity which was at such time a member of the Controlled Group.

  • Pension Plan means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years.

  • 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 and subject to 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”.

  • Parent 401(k) Plan has the meaning set forth in Section 6.6(e).

  • Company Employee Plans has the meaning set forth in Section 3.12(a).

  • Guaranteed Pension Plan means any employee pension benefit plan within the meaning of §3(2) of ERISA maintained or contributed to by any Borrower or any ERISA Affiliate the benefits of which are guaranteed on termination in full or in part by the PBGC pursuant to Title IV of ERISA, other than a Multiemployer Plan.