Seller's Retirement and Savings Plans. (i) All Hired Active Employees who are participants in Seller's retirement plans shall retain their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller (or Seller's retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans. All Hired Active Employees shall become fully vested in their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller will so amend such plans if necessary to achieve this result. Seller shall cause the assets of each Employee Plan to equal or exceed the benefit liabilities of such Employee Plan on a plan-termination basis as of the Effective Time.
Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller's retirement plans shall retain their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller (or Seller's retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans
Seller's Retirement and Savings Plans. All Selected Employees who are participants in Seller's retirement plans will retain their accrued benefits under Seller's retirement plans as of the Closing Date, and Seller (or Seller's retirement plans) will retain sole liability for the payment of such benefits as and when such Selected Employees become eligible therefor under such plans. Seller will cause the assets of each Employee Plan to equal or exceed the benefit liabilities of such Employee Plan on a plan- termination basis as of the Closing Date.
Seller's Retirement and Savings Plans. Seller maintains no retirement plans or savings plans other than administering an employee RRSP Plan that is employee funded, with no employer contribution.
Seller's Retirement and Savings Plans. (i) All Hired Active Employees shall become fully vested in their accrued benefits under Seller’s retirement plans as of the Closing Date, and Seller will so amend such plans if necessary to achieve this result. Seller shall take any actions necessary and appropriate to terminate immediately prior to the Closing Date the participation of any of the Targeted Subsidiaries in any Employee Plan, if any such Targeted Subsidiary was a participating sponsor of any such Employee Plan.
Seller's Retirement and Savings Plans. (i) All Hired Active Employees who are participants in Seller’s retirement plans shall retain their accrued benefits balance under Seller’s retirement plans as of the Closing Date. Buyer may retain Seller’s retirement plans or Buyer may transfer Hired Active Employees’ accrued benefit balance to Buyer’s retirement plans. If Buyer transfers all Hired Active Employees’ accrued benefit balance to Buyer’s retirement plans, Seller agrees to assist in transferring such accrued benefit balance to Buyer’s retirement plans. All Hired Active Employees shall become fully vested in their accrued benefits under Seller’s retirement plans as of the Closing Date, and service with Buyer will be credited for purposes of determining their entitlement to any early retirement benefits or retirement-type subsidies, for which Buyer shall be liable. Seller shall amend its plans if necessary to achieve these results.
Seller's Retirement and Savings Plans. (i) All Hired Active Employees who are participants in the Seller’s retirement plans shall retain their accrued benefits under the Seller’s retirement plans as of close of business on the day immediately prior to the Closing Date, and the Seller (or the Seller’s retirement plans) shall retain sole Liability for the payment of such benefits as and when such Active Employees become eligible therefor under such plans. All Hired Active Employees shall become fully vested in their accrued benefits under the Seller’s retirement plans as of the Closing Date, and the Seller will so amend such plans if necessary to achieve this result. The Seller shall cause the assets of each Benefit Plan to equal or exceed the benefit liabilities of such Benefit Plan on a plan-termination basis as of the Closing Date. Buyer will allow all Hired Active Employees to participate in the Buyer’s retirement plans from the opening of business on the Closing Date, and the Buyer (or the Buyer’s retirement plans) shall retain sole Liability for the payment of such benefits as and when such Hired Active Employees become eligible therefor under such plans.
Seller's Retirement and Savings Plans. (a) All employees of the Seller who may be hired by the Buyer as of the Closing Date and who are participants in the Seller's or Parent's retirement plans, if any, shall retain their accrued benefits under such retirement plans as of the Closing Date, and the Seller (or the Seller's or Parent's retirement plans) shall retain sole liability for the payment of such benefits as and when such employees become eligible therefor under such retirement plans. All such employees of the Seller shall become fully vested in their accrued benefits under the Seller's and Parent's retirement plans as of the Closing Date, and the Seller and Parent will so amend any such retirement plans if necessary to achieve this result. The Seller and Parent shall cause the assets of any such retirement plan to equal or exceed the benefit liabilities of such retirement plan on a plan-termination basis as of the Closing Date. (b) Each of the Parent and the Seller will cause its savings plans, if any, to be amended in order to provide that Seller's employees (including the Key Employees and the Healthcare Employees as defined herein) shall be fully vested in their accounts under such savings plan as of the Closing Date and all payments thereafter shall be made from such savings plan as provided in such savings plan. .14.3.
Seller's Retirement and Savings Plans. All Hired Active Employees who are participants in Seller’s retirement plans shall retain their vested accrued benefits under Seller’s retirement plans as of the Closing Date, and Seller (or Seller’s retirement plans) shall retain sole liability for the payment of such vested benefits as and when such Hired Active Employees become eligible therefor under such plans. Seller shall cause the assets of each Plan to equal or exceed the benefit liabilities of such Plan on a plan-termination basis as of the Effective Time. Seller will cause its 401-k savings plan to be amended in Table of Contents order to provide that the Hired Active Employees shall be fully vested in their accounts under such plan as of the Closing Date and all payments thereafter shall be made from such plan as provided in the plan.
Seller's Retirement and Savings Plans. (i) Except as provided in Sections 9.7(d)(ii), (iii) and (iv) and with respect to Benefit Plans contributed to pursuant to the Collective Bargaining Agreements, all Hired Active Employees who are participants in Sellers' retirement plans shall retain their accrued benefits under Sellers' retirement plans as of the Closing Date, and each Seller (or such Seller's retirement plans) shall retain sole liability for the payment of such benefits as and when such Hired Active Employees become eligible therefore under such plans.
