Buyer 401(k) Plan definition

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

Buyer 401(k) Plan has the meaning set forth in Section 8.8.

Buyer 401(k) Plan has the meaning set forth in Section 4.5(j).

Examples of Buyer 401(k) Plan in a sentence

• As soon as practicable after the Closing Date and in accordance with the terms of the Seller Thrift Plan, each Grandfathered Participant shall be given the option to receive a distribution of his or her account balance under the Seller Thrift Plan from such plan and, in accordance with applicable law and the terms of the Buyer 401(k) Plan, elect to roll over such amount including any notes corresponding to outstanding loans into the Buyer 401(k) Plan to the extent permitted under such Buyer 401(k) Plan.

• The Sellers and Buyer shall take all actions necessary or appropriate, and shall cooperate with each other to accomplish and facilitate the foregoing, and, following the Closing Date, Buyer shall be solely responsible for obtaining any employees’ elections with respect to each Buyer 401(k) Plan, to the extent not obtained prior to the Closing, regarding the roll-over of account balances, including loans, subject to Sellers’ cooperation, as reasonably requested by Buyer.

• Upon the making of such transfer (the "Transfer") and the receipt by the trustee of the Buyer 401(k) Plan of the Transferred Account Balances, the Buyer 401(k) Plan shall automatically assume all liabilities for accrued benefits under the SFI 401(k) Plan in respect of such Transferred Employees, and the SFI 401(k) Plan shall be relieved of all such liabilities.

• As soon as practicable after the Closing Date, Seller shall make distributions from the Seller 401(k) Plan available to Transferred Employees and the Buyer 401(k) Plan shall accept such distribution as a rollover contribution if permitted under the terms of the Buyer 401(k) Plan and if so directed by the Transferred Employee.

• The Buyer agrees to cause the Buyer 401(k) Plan to accept direct rollover contributions of any such distributions from the Sellers' 401(k) Plan that are "eligible rollover distributions" within the meaning of Section 402(c)(4) of the Code, subject to the terms of the Buyer 401(k) Plan.

More Definitions of Buyer 401(k) Plan

Buyer 401(k) Plan shall have the meaning specified in Section 9.3(f)(i).

Buyer 401(k) Plan is defined in Section 6.16(b).

Buyer 401(k) Plan shall have the meaning assigned to such term in Section 5.5(k).

Buyer 401(k) Plan is defined in Section 8.6(b) of this Agreement.

Buyer 401(k) Plan means a defined contribution plan that includes a qualified cash or deferred arrangement within the meaning of Section 401(k) of the Code providing benefits to the employees of the Buyer and sponsored by the Buyer.

Buyer 401(k) Plan shall have the meaning as set forth in Section 6.9(j) of the Agreement.

Buyer 401(k) Plan is defined in Section 5.3(e)(4).