Common use of Grace, New Grace and Grace Clause in Contracts

Grace, New Grace and Grace. Conn. shall take all steps necessary or appropriate so that, effective no later than the Distribution Date, one or more members of the Packco Group are the sole sponsors of the Packco Medical and Dependent Care Expense Plan, and the Packco Group shall assume all Liabilities under such Plan. Such steps shall include, without limitation, the appointment or reappointment by Grace of all named fiduciaries, trustees, custodians, recordkeepers and other fiduciaries and service providers to such Plan, to the extent such appointments or reappointments are necessary. No employer contributions to such Plan shall be made or promised with respect to the 1998 plan year unless the parties otherwise agree.

Grace, New Grace and Grace. Conn. shall take all steps necessary or appropriate so that, effective no later than the Distribution Date, one or more members of the Packco Group are the sole sponsors of the Packco Medical and Dependent Care Expense Plan, and the Packco Group shall assume all Liabilities under such Plan. Such steps shall include, without limitation, the appointment or reappointment by Grace of all named fiduciariesxxxxxxx- xxxx, trustees, custodians, recordkeepers and other fiduciaries -17- and service providers to such Plan, to the extent such appointments appoint- ments or reappointments are necessary. No employer contributions contribu- tions to such Plan shall be made or promised with respect to the 1998 plan year unless the parties otherwise agree.