Common use of Merger, Consolidation or Transfer Clause in Contracts

Merger, Consolidation or Transfer. In the event of any merger or consolidation with, or transfer of assets or liabilities to, any other plan, the benefit that a Participant would receive upon a termination of such plan immediately after such merger, consolidation, or transfer shall be equal to or greater than the benefit the Participant would have been entitled to receive immediately before the merger, consolidation, or transfer if the Plan had then terminated.

Appears in 2 contracts

Samples: Aetna Inc /Pa/, Aetna Inc /Pa/

AutoNDA by SimpleDocs

Merger, Consolidation or Transfer. In the event case of any merger or consolidation with, or transfer of assets or liabilities to, any other plan, as provided in the Code, the benefit that a of any Participant would receive upon a termination of such plan or beneficiary immediately after such merger, consolidation, or transfer (if the Plan had then terminated) shall be at least equal to or greater than the benefit the such Participant or beneficiary would have been entitled to receive received immediately before the such merger, consolidation, or transfer (if the Plan had then terminated).

Appears in 1 contract

Samples: Agreement (Bremen Bearings Inc)

Merger, Consolidation or Transfer. In the event case of any merger or consolidation with, or transfer of assets or liabilities to, any other plan, the benefit that a benefits which would be paid to each Participant would receive upon a termination of such plan in this Plan (if this Plan terminated immediately after such the merger, consolidation, or transfer transfer) shall be equal to or greater than the benefit the each Participant would have been entitled to receive immediately before the merger, consolidation, or transfer transfer, (if the this Plan had then terminated).

Appears in 1 contract

Samples: Timken Co

Merger, Consolidation or Transfer. In the event of any a merger or consolidation of the Plan with, or transfer of assets or liabilities of the Plan to, any other planplan of deferred compensation maintained or to be established for the benefit of all or some of the Participants of the Plan, the benefit transaction shall be structured so that a each Participant would (if the Plan then terminated) receive upon a termination of such plan benefit immediately after such the merger, consolidation, consolidation or transfer shall be which is equal to or greater than the benefit the Participant would have been entitled to receive immediately before the merger, consolidation, consolidation or transfer (if the this Plan had then terminated).

Appears in 1 contract

Samples: WHX Corp

AutoNDA by SimpleDocs

Merger, Consolidation or Transfer. In the event of any a merger or consolidation of the Plan with, or transfer of assets or liabilities of the Plan to, any other plan, the benefit transaction shall be structured so that a each Participant would (if the Plan then terminated) receive upon a termination of such plan benefit immediately after such the merger, consolidation, consolidation or transfer shall be which is equal to or greater than the benefit the Participant would have been entitled to receive immediately before the merger, consolidation, consolidation or transfer (if the this Plan had then terminated).

Appears in 1 contract

Samples: Garmin LTD

Time is Money Join Law Insider Premium to draft better contracts faster.