Retained Defined Contribution Plan Transactions Sample Clauses

Retained Defined Contribution Plan Transactions. Upon the consummation of the transactions contemplated by this Agreement and the Collateral Agreements, Seller shall cause the Retained Defined Contribution Plans to provide that any New Employee who was a participant in the Retained Defined Contribution Plans immediately prior to the date of Closing shall be entitled to receive a "lump sum distribution" as defined in, and in accordance with, the provisions of Section 401(k)(10) of the Code from the Retained Defined Contribution Plans. Buyer shall cause a defined contribution plan or plans sponsored by Buyer to accept direct rollovers (described in Section 402(c) of the Code) of lump sum distributions to which New Employees are entitled under the Retained Defined Contribution Plans.