Common use of Benefit Obligations Clause in Contracts

Benefit Obligations. With respect to the Company Employee Plans, there are no benefit obligations for which contributions have not been made or properly accrued as required by such Company Employee Plan or applicable Law, and there are no benefit obligations which have not been accounted for by reserves, or otherwise properly footnoted in accordance with GAAP, on the Company Financial Statements. The assets of each Company Employee Plan which is funded are reported at their fair market value on the books and records of such Company Employee Plan if so required under the terms of such Company Employee Plan or applicable Law.

Appears in 4 contracts

Samples: Agreement and Plan of Merger (Pinnacle Data Systems Inc), Agreement and Plan of Merger (Nortel Networks Inc.), Agreement and Plan of Merger (Nortel Networks LTD)

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Benefit Obligations. With respect to the Company Employee Plans, there are no benefit obligations for which contributions have not been made or properly accrued as required by such Company Employee Plan or applicable Law, and there are no benefit obligations which have not been accounted for by reserves, or otherwise properly footnoted in accordance with GAAP, on the Company Financial Statementsfinancial statements of the Company. The assets of each Company Employee Plan which is funded are reported at their fair market value on the books and records of such Company Employee Plan if so required under the terms of such Company Employee Plan or applicable LawBenefit Plan.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Headhunter Net Inc)

Benefit Obligations. With respect to the Company Employee Plans, there are no material benefit obligations for which contributions have not been made or properly accrued as required by such Company Employee Plan or applicable Law, and there are no material benefit obligations which have not been accounted for by reserves, or otherwise properly footnoted in accordance with GAAP, on the Company Financial Statements. The assets of each Company Employee Plan which is funded are reported at their fair market value on the books and records of such Company Employee Plan if so required under the terms of such Company Employee Plan or applicable Law.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Nu Horizons Electronics Corp)

Benefit Obligations. With respect to the Company Employee Plans, there are no benefit obligations for which contributions have not been timely made or properly accrued as to the extent required by such the Company’s Accounting Practices, except as would not reasonably be expected to result in a Company Employee Plan or applicable Law, and there are no benefit obligations which have not been accounted for by reserves, or otherwise properly footnoted in accordance with GAAP, on the Company Financial StatementsMaterial Adverse Effect. The assets of each Company Employee Plan which is funded are reported at their fair market value on the books and records of such Company Employee Plan if so required under the terms of such Company Employee Plan or applicable LawPlan.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Datalink Corp)

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Benefit Obligations. With respect to the Company Employee Plans, ------------------- there are no benefit obligations for which contributions have not been made or properly accrued as required by such Company Employee Plan or applicable Law, and there are no benefit obligations which have not been accounted for by reserves, or otherwise properly footnoted in accordance with GAAP, on the Company Financial Statementsfinancial statements of the Company. The assets of each Company Employee Plan which is funded are reported at their fair market value on the books and records of such Company Employee Plan if so required under the terms of such Company Employee Plan or applicable LawBenefit Plan.

Appears in 1 contract

Samples: Agreement and Plan of Merger (Headhunter Net Inc)

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