Common use of Plan Participation Clause in Contracts

Plan Participation. As soon as administratively practicable after the Effective Time, MCSC shall take all reasonable action so that employees of the Surviving Corporation shall be entitled to participate in the MCSC employee benefit plans of general applicability, and until such time the employee plans of TBS shall remain in effect. For purposes of determining eligibility to participate in and the vesting of benefits (but not for purposes of benefit accrual) under the MCSC employee plans, MCSC shall recognize years of service with TBS prior to the Effective Time.

Plan Participation. As soon as administratively practicable after the Effective Time, MCSC shall take all reasonable action so that employees of the Surviving Corporation shall be entitled to participate in the MCSC employee benefit plans of general applicability, and until such time the employee plans of TBS BRITCO shall remain in effect. For purposes of determining eligibility to participate in and the vesting of benefits (but not for purposes of benefit accrual) under the MCSC employee plans, MCSC shall recognize years of service with TBS BRITCO prior to the Effective Time.

Plan Participation. As soon as administratively practicable after the Effective Time, MCSC shall take all reasonable action so that employees of the Surviving Corporation shall be entitled to participate in the MCSC employee benefit plans of general applicability, and until such time the employee plans of TBS CMS shall remain in effect. For purposes of determining eligibility to participate in and the vesting of benefits (but not for purposes of benefit accrual) under the MCSC employee plans, MCSC shall recognize years of service with TBS prior to the Effective Time.