Transferred Benefit Plans definition
Examples of Transferred Benefit Plans in a sentence
On or before the effective date of such transfer, Seller will provide to Purchaser all records, data, and information maintained by Seller or its affiliates relating to the foregoing Transferred Benefit Plans.
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The Buyers (or applicable Affiliate of the Buyers) shall grant all Transferred Individuals credit for any service with the AUC Entities earned prior to the Closing Date for purposes of Cessantia and any other severance rights under applicable employment Laws, as well as vacation accrual and severance arrangements under any Transferred Benefit Plans, or any vacation and severance plans that may be established or maintained by the applicable Buyer or its Affiliates after the Closing Date.
As of the day after the Closing Date, the Buyers shall, or shall cause one of their Affiliates to, have in effect arrangements to provide such benefits in accordance with applicable Law and the Transferred Benefit Plans.
Newco shall prepare and file all Forms 5500 and other government reports or returns that are required to be filed after the Closing Date with respect to each of the Assumed Plans described in Section G.05(b), the Transferred Savings Plans described in Section G.06(b) and the Transferred Benefit Plans described in Section G.10(c).