Seller DC Plans definition

Seller DC Plans has the meaning set forth in Section 8.3.
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Seller DC Plans has the meaning ascribed to it in Section 5.01(h).
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Seller DC Plans has the meaning given such term in Section 9.3(f).
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Examples of Seller DC Plans in a sentence

  • The Purchaser shall take, or shall cause one of its Affiliates to take, all such action as may be necessary or appropriate (including amending the Purchaser DC Plans, if necessary) to permit any Transferred Employees who have timely made an election to roll over their interest in cash together with any loans in the applicable Seller DC Plans to a Purchaser DC Plan.

  • Effective as of the Closing, each Transferred Employee (other than the Business Employees employed by Healthpoint Curaçao) (i) shall become fully vested in his or her account balance in Seller Parent’s defined contribution plans intended to qualify under Section 401(a) of the Code (the “Seller DC Plans”) and (ii) shall cease to be an active participant in the Seller DC Plans.

  • Seller shall cause the Seller DC Plans to fully vest the account balances of all Transferred Employees in the Seller DC Plans and continue loan repayments during the human resources portion of the Transition Services Agreement.

  • The Purchaser shall cooperate, or cause one of its Affiliates to cooperate, with the Seller in providing information to the Transferred Employees regarding rollovers of their interests from the applicable Seller DC Plans to a Purchaser DC Plan.

  • Seller shall cause the Seller DC Plans, and Buyer shall cause the Buyer DC Plans, to implement rollovers between their respective plans, including applicable loans, as soon as practicable following its adoption or designation.

  • On or immediately following the Closing Date, Seller Parent shall make to the Seller DC Plans all previously unpaid employee and matching and any other contributions with respect to the Transferred Employees’ employment service rendered prior to the Closing Date.

  • The applicable Purchaser DC Plans shall be tax-qualified in the same manner as the corresponding Seller DC Plans, and Purchaser shall provide Seller any determination letters or similar documentation evidencing such qualification.

  • As soon as practicable following the Closing Date, Purchasers shall provide Sellers, and Sellers shall provide Purchasers, a favorable determination letter from the Internal Revenue Service stating that the Purchaser DC Plans in the case of the Purchasers, and the Seller DC Plans in the case of the Sellers, are qualified under Code Section 401(a).

  • The applicable Purchaser DC Plans shall be intended to be tax-qualified in the same manner as the corresponding Seller DC Plans.

  • Sellers shall cause Seller DC Plans to fully vest the account balances of all DC Employees.


More Definitions of Seller DC Plans

Seller DC Plans means those Benefit Plans of Seller or any of its Affiliates (other than the Transferred Subsidiaries) that are "employee pension benefit plans," within the meaning of Section 3(2) of ERISA, whether or not subject to ERISA, and that provide for an individual account for each participant and for benefits based solely on the amounts contributed to such account and any income, expenses, gains, losses or forfeitures allocated thereto (other than the U.S. 401(k) Plan).
Sample 1
Seller DC Plans is defined in Section 7.1(g).
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Related to Seller DC Plans

  • Seller Plans has the meaning set forth in Section 3.13(a).

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

  • Buyer Plans has the meaning set forth in Section 6.02(b).

  • Seller Benefit Plans has the meaning set forth in Section 4.10(a).

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

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

  • Seller Plan means any Employee Benefit Plan maintained, or contributed to, by the Seller or any ERISA Affiliate.

  • 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.

  • Seller 401(k) Plan has the meaning set forth in Section 5.5(e).

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

  • Seller Employees shall have the meaning ascribed thereto in Section 7.4(a) hereof.

  • Transferred Employees has the meaning set forth in Section 6.4(a).

  • Company Plans has the meaning set forth in Section 4.10(a).

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

  • Seller Benefit Plan means each Employee Benefit Plan sponsored, maintained or contributed to by a Seller or any of its Affiliates or with respect to which a Seller or any of its Affiliates has, or could reasonably be expected to have, any direct or indirect Liability.

  • Business Employees has the meaning set forth in Section 4.10(a).

  • Transferred Contracts has the meaning ascribed to it in Section 2.1(c).

  • Seller Group means, at any time, the group of companies comprised of Xxxxx Fargo & Company and its subsidiaries at that time.

  • Benefit Plans shall have the meaning set forth in Section 3.13(a).

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

  • Assumed Liabilities has the meaning set forth in Section 2.3.

  • Transferred Entities means the entities set forth on Schedule 1.9.

  • Employee Plans has the meaning set forth in Section 3.14(b).

  • Company Employees shall have the meaning set forth in Section 6.10(a).

  • Company Benefit Plans has the meaning set forth in Section 3.16(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.