Examples of Transferred Company Benefit Plans in a sentence
Benefit Plans that are sponsored or maintained solely by one or more of Seller, the Company, Newco or the Sold Subsidiaries and that will be transferred as part of the transactions contemplated by this Agreement are denoted by asterisk on Schedule 4.13(a) and are referred to herein as "Transferred Company Benefit Plans".
Effective as of the Closing Date, only Company Employees will be active participants in the Transferred Company Benefit Plans.
From and after the Closing, Buyer and its Affiliates (including the Transferred Companies) shall have no liability relating to any Benefit Plans or other employee benefit plans other than the Transferred Company Benefit Plans, and Seller and its Affiliates shall indemnify and hold harmless Buyer and its Affiliates with respect to any and all such liabilities.
Effective as of the Closing Date, Company Employees will cease to be active participants in the Company Benefit Plans that are not Transferred Company Benefit Plans, and Seller will retain all liabilities with respect to such plans (other than Transferred Company Benefit Plans).
For the avoidance of doubt, as of the Closing, the Purchaser and its Affiliates shall assume, or shall cause the Transferred Companies and their respective Subsidiaries to continue, as the case may be, sponsorship of, and all Liabilities and other obligations with respect to, the Transferred Company Benefit Plans.
Section 3.11 of the Company Disclosure Schedule identifies each Company Benefit Plan that will be sponsored by the Company (and not by the Seller) as of the Closing Date (collectively, the "Transferred Company Benefit Plans").
For the avoidance of doubt, as of the Closing, Purchaser and its Affiliates shall assume, or shall cause the Transferred Companies and their respective Subsidiaries to continue, as the case may be, sponsorship of, and all Liabilities and other obligations with respect to, the Transferred Company Benefit Plans.
Schedule 2(p)(a)(ii) identifies each Company Benefit Plan that will be sponsored by the Acquired Companies (and not by Cityside) as of the Closing Date (collectively, the "Transferred Company Benefit Plans").
Section 3(o) of the Disclosure Schedule contains a complete and accurate list of, and separately identifies by the country in which they are maintained, (x) all Seller Benefit Plans covering any Employee and (y) all Transferred Company Benefit Plans.
Parent and Sellers shall take all actions necessary to cause any employee who is not a Business Employee to cease to participate in the Transferred Company Benefit Plans immediately prior to the Closing Date.