Transferred Employee Plan definition

Transferred Employee Plan means any Seller Employee Plan or any portion of a Seller Employee Plan (or a portion of the Liabilities of such Seller Employee Plan) listed on Section 7.1(d)(i) of the Seller Disclosure Schedule.
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Transferred Employee Plan means the (i) Accrued Vacation Amount, or (ii) any Seller Employee Plan that is (or the Liabilities of which are) transferred by operation of Law to the Purchaser or a Designated Purchaser (or to a Purchaser Employee Plan, as the case may be).
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Transferred Employee Plan means any Debtor’s employee plan to the extent expressly assumed by the Purchaser or a Designated Purchaser pursuant to Section 2.04 of this Agreement or otherwise assumed in connection with the PGIC Vancouver Collective Agreement or the KGIC Language College Collective Agreement.
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Examples of Transferred Employee Plan in a sentence

  • Seller and its Affiliates have performed in all material respects all obligations required to be performed by them under any Transferred Employee Plan and are not in any material respect in default under or in violation of any Transferred Employee Plan.

  • No Transferred Employee Plan is a multi-employer plan (within the meaning of Section 3(37) or Section 4001(a)(3) of ERISA).

  • No material action, claim, investigation or proceeding is pending or, to the Knowledge of Seller, threatened in writing, with respect to any Transferred Employee Plan (other than claims for benefits in the Ordinary Course), and no fact or event exists, to the Knowledge of Seller, that could give rise to any such action, claim or proceeding.

  • All employer and employee contributions, premiums and expenses payable to or in respect of any Transferred Employee Plan or required by Law or any Transferred Employee Plan or labor agreement or arrangement have been timely paid, or, if not yet due, have been properly accrued in the Audited Financial Statements in accordance with US GAAP applied on a consistent basis.

  • There are no Actions or claims (other than routine claims for benefits) pending or, to the Knowledge of Seller, threatened with respect to any Transferred Employee Plan or any related trust or other funding medium thereunder or with respect to Seller or any ERISA Affiliate as the sponsor or fiduciary thereof and, to the Knowledge of Seller, there is no basis for any such Action.

  • With respect to any Transferred Employee Plan intended to qualify to tax-favorable treatment under applicable Law, to the Knowledge of the Seller there exists no event or circumstance that has or is likely to adversely affect such qualification or exemption.

  • To the Knowledge of the Sellers, no prohibited transaction (as described in Section 406 of ERISA or Section 4975 of the Code) which can reasonably be expected to result in material liability has occurred with respect to any Transferred Employee Plan.

  • There are no audits, inquiries or proceedings pending or, to the Knowledge of Seller, threatened by the IRS or any other Government Authority with respect to any Transferred Employee Plan or Qualified Plan.

  • Buyer can assume each Transferred Employee Plan without payment of additional amounts or consideration, other than insurance premiums that Seller would otherwise be required to pay, pursuant to the terms of such Transferred Employee Plan.

  • To the extent applicable, the following documents with respect to each material Transferred Employee Plan have been made available to Buyer: (i) the most recent Form 5500, (ii) the most recent summary annual report, (iii) summary plan description, (iv) the most recent audited financial statements, (v) the most recent annual actuarial valuation, and (vi) all material correspondence to or from any Government Authority sent or received in the last year, (vii) each trust agreement.


More Definitions of Transferred Employee Plan

Transferred Employee Plan means each Employee Plan that automatically transfers to Purchaser by operation of law as set forth in Schedule 1.1(s).
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Transferred Employee Plan means an Employee Plan maintained principally for the benefit of the Transferred Employees.
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Transferred Employee Plan means any Seller Employee Plan or any portion of a Seller Employee Plan (or a portion of the Liabilities of such Seller Employee Plan) listed on Section 7.1(d)(i) of the Seller Disclosure
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Transferred Employee Plan means any Seller Employee Plan that is (x) established or maintained in accordance with a Collective Labor Agreement that is transferred to the Purchaser or a Designated Purchaser under the terms of Section 7.2, and transferred (or the liabilities of which are transferred) to the Purchaser or Designated Purchaser pursuant to this Agreement or by operation of Law or (y) transferred (or the liabilities of which are transferred) to the Purchaser or Designated Purchaser pursuant to this Agreement or by operation of Law, in each case, excluding the Specified Employee Liabilities assumed by Purchaser pursuant to Section 2.1.3(i).
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Transferred Employee Plan means (a) any Employee Plan sponsored or maintained solely by any of the Transferred Entities, (b) any Employee Plan sponsored, maintained or contributed to by Seller or one of its Affiliates exclusively for the benefit of Plastics Business Employees, including any Post-Closing Welfare Plan, (c) any Employee Plan entered into with any Plastics Business Employee and (d) any other Employee Plan that the Parties mutually agree in writing prior to the Closing is designated as a Transferred Employee Plan.
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Related to Transferred Employee Plan

  • 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;

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

  • Employee Plans means all Benefit Arrangements, Multiemployer Plans, Pension Plans and Welfare Plans.

  • 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 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 Employee Plan means any plan, program, policy, practice, contract, agreement or other arrangement providing for compensation, severance, termination pay, 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 maintained, contributed to, or required to be contributed to, by Parent or any Affiliate for the benefit of any Parent Employee;

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

  • Employee Plan means an employee benefit plan within the meaning of Section 3(3) of ERISA (other than a Multiemployer Plan), regardless of whether subject to ERISA, that any Loan Party or any of its ERISA Affiliates maintains, sponsors or contributes to or is obligated to contribute to.

  • Company Plan means all Plans of which the Company or an ERISA Affiliate of the Company is or was a Plan Sponsor, or to which the Company or an ERISA Affiliate of the Company otherwise contributes or has contributed, or in which the Company or an ERISA Affiliate of the Company otherwise participates or has participated. All references to Plans are to Company Plans unless the context requires otherwise.

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

  • Transferred Employee has the meaning set forth in Section 6.01(a).

  • Seller Benefit Plans shall have the meaning ascribed thereto in Section 4.11(a) hereof.

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

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

  • 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.

  • Company Benefit Plan has the meaning specified in Section 4.13(a).

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

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.

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

  • Benefit Arrangement means at any time an employee benefit plan within the meaning of Section 3(3) of ERISA which is not a Plan or a Multiemployer Plan and which is maintained or otherwise contributed to by any member of the ERISA Group.

  • Welfare Plan means a “welfare plan”, as such term is defined in Section 3(1) of ERISA.

  • Company Employee Benefit Plan means each Employee Benefit Plan that is maintained, sponsored or contributed to (or required to be contributed to) by any of the Group Companies or under or with respect to which any of the Group Companies has any Liability.

  • 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, any Subsidiary or any ERISA Affiliate.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Foreign Benefit Arrangement means any employee benefit arrangement mandated by non-U.S. law that is maintained or contributed to by any Credit Party or any of its Subsidiaries.

  • Foreign Benefit Plan means any Employee Benefit Plan established, maintained or contributed to outside of the United States of America or which covers any employee working or residing outside of the United States.