Common use of SIMPLE IRA Plan Clause in Contracts

SIMPLE IRA Plan. The Corporation's Board of Directors shall have taken all n▇▇▇ssary actions required to authorize the termination of the Corporation's SIMPLE IRA Plan, including without limitation the adoption of appropriate Bo▇▇▇ of Directors' resolutions, the preparation of appropriate notices to plan participants (to be delivered to such participants promptly following the Effective Time) and the sending of an appropriate notice to the plan sponsor, and the Corporation shall have funded, or made adequate reserves for, the full amounts of the employer contributions required under the terms of said plan to be paid by the Corporation with respect to the year ended December 31, 2001 and the period from and including January 1, 2002 through and including the Closing Date.

SIMPLE IRA Plan. The Corporation's Board of Directors shall have Corporation has taken all n▇▇▇ssary necessary actions required to authorize ▇▇thorize the termination of the Corporation's SIMPLE IRA Plan, subject to the consummation of the Merger, including without limitation withou▇ ▇imitation the adoption of appropriate Bo▇▇▇ Board of Directors' resolutions, the preparation of appropriate notices to plan participants (to be delivered to such participants promptly following the Effective Time) and the sending of an appropriate notice to the plan sponsor, and the Corporation shall have has funded, or made adequate reserves for, the full amounts of the employer contributions that are required under the terms of said plan to be paid by the Corporation with respect to the year ended December 31, 2001 and the period from and including January 1, 2002 through and including the Closing Date.