Common use of Purchaser Plans Clause in Contracts

Purchaser Plans. 4.5.1 The Purchaser shall, as soon as reasonably practicable after the Closing Date, at its own cost, establish its own provident fund. The Purchaser shall also, as soon as reasonably practicable following the Closing Date, at its own cost, obtain a new policy from an insurer determined by the Purchaser or its Affiliates for extending superannuation benefits to the Transferred Employees for the period on and from the Closing Date. Until the establishment of such funds, on and following the Closing Date: 4.5.1 (a) the Purchaser shall pay or cause to be paid all contributions due and payable on and following the Closing Date in respect of the Provident Fund for the Transferred Employees in accordance with the terms of the Provident Fund until the same are transferred to the provident fund of the Purchaser, provided the same is not prohibited by Law; 4.5.1 (b) if the Purchaser is prohibited by Law from making contributions as set forth in Clause 4.5.1, the Seller shall, prior to the Closing Date, advance an amount equal to the contributions payable to the Provident Fund in respect of the Transferred Employees, for a period of 4 (four) months following the Closing Date, as if the Seller continued to employ the Transferred Employees for such period, provided the same is not prohibited by Law. The Purchaser shall reimburse the Seller in respect of such advances within a period of 14 (fourteen) days from the date of the Seller making such advances; and 4.5.1 (c) the Purchaser shall, as soon as practicable following the Closing Date, at its own cost, obtain a new policy from an insurer selected by the Purchaser or its Affiliates for extending superannuation benefits to the Transferred Employees for the period on and from the Closing Date. 4.5.2 Upon the establishment of the funds as provided in Clause 4.5.1, the Seller shall take all steps as may be necessary to transfer the balances, including interest under each of the Business Employee Plans in respect of the Transferred Employees (which accumulations are held by the trustees of each of the Business Employee Plans) to the funds to be CONFIDENTIAL TREATMENT [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the SEC. established by the Purchaser. The Seller shall provide to the Purchaser all necessary documentation and other information providing the amounts transferred under each such fund for each Transferred Employee.

Purchaser Plans. 4.5.1 The (a) Purchaser shall, as soon as reasonably practicable after the Closing Date, at its own cost, establish its own provident fund. The Purchaser shall also, as soon as reasonably practicable following the Closing Date, at its own cost, obtain a new policy from an insurer determined by the Purchaser or its Affiliates or establish a trust account for extending superannuation benefits to the Transferred Employees for the period on and from the Closing Date. Until the establishment of such funds, on and following the Closing Date: 4.5.1 (ai) the Purchaser shall pay or cause to be paid all contributions due and payable on and following the Closing Date in respect of the Provident Fund for the Transferred Employees in accordance with the terms of the Provident Fund until the same are transferred to the provident fund of the Purchaser, provided that the same is not prohibited by applicable Law; 4.5.1 (bii) if the Purchaser is prohibited by applicable Law from making contributions as set forth in Clause 4.5.1Section 8.5(a)(i), the Seller shall, prior to the Closing Date, advance an amount equal to the contributions payable to the Provident Fund in respect of the Transferred Employees, for a period of 4 six (four6) months following the Closing Date, as if the Seller continued to employ the Transferred Employees for such period, provided that the same is not prohibited by applicable Law. The Purchaser shall reimburse the Seller in respect of such advances within a period of 14 fourteen (fourteen14) days from the date of the Seller making such advances; and; 4.5.1 (ciii) the Purchaser shall, as soon as practicable following within six (6) months of the Closing Date, at its own cost, obtain a new policy from an insurer selected by the Purchaser or its Affiliates or establish a trust account for extending superannuation benefits to the Transferred Employees for the period on and from the Closing Date; and (iv) Purchaser shall, within six (6) months of the Closing Date, obtain a new policy from an insurer selected by the Purchaser of its Affiliates or establish a trust account for extending gratuity benefits to the Transferred Employees for the period on and from the Closing Date. 4.5.2 (b) Upon the establishment of the funds as provided in Clause 4.5.1Section 8.5(a)(i), the Seller shall take all steps as may be necessary to transfer the balances, including interest under each of the Business Employee Plans in respect of the Transferred Employees (which accumulations are held by the trustees of each of the Business Employee Plans) to the funds to be CONFIDENTIAL TREATMENT [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the SEC. established by the Purchaser. The Seller shall provide to the Purchaser all necessary documentation and other information providing the amounts transferred under each such fund for each Transferred Employee.