Common use of Termination of 401(k) Plan Clause in Contracts

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before the Closing Date, the Company shall terminate any and all 401(k) plans sponsored or maintained by the Company or any of its Subsidiaries, and prior to the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of Directors.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before Upon the Closing DateBuyer’s written request, prior to Closing, the Company shall terminate any and all Company Plans intended to qualify under Section 401(k) of the Code, or any successor statute, effective not later than the day immediately preceding the Closing Date. Upon the termination of such plans, the Company shall provide the Parent and the Buyer with evidence that such 401(k) plans sponsored or maintained by have been terminated pursuant to resolution of the Company or any Company’s board of its Subsidiaries, and prior to directors not later than the day immediately preceding the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsDate.

Termination of 401(k) Plan. If requested by Acquiror in writing at least Upon the Buyer’s written request made not later than five business days before the Closing Date(5) Business Days prior to Closing, the Company shall terminate any and all Company Plans intended to qualify under Section 401(k) of the Code, or any successor statute, effective not later than the day immediately preceding the Closing Date. Upon the termination of such plans, the Company shall provide the Buyer with evidence that such 401(k) plans sponsored or maintained by have been terminated pursuant to resolution of the Company or any Company’s board of its Subsidiaries, and prior to directors not later than the day immediately preceding the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsDate.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before Upon the Closing DateBuyer’s written request, prior to Closing, the Company shall terminate any and all Company Plans intended to qualify under Section 401(k) of the Code, or any successor statute, prospectively effective not later than the day immediately preceding the Closing Date. Upon the termination of such plans, the Company shall provide the Buyer with evidence that such 401(k) plans sponsored or maintained by have been terminated pursuant to resolution of the Company or any Company’s board of its Subsidiaries, and prior to directors not later than the day immediately preceding the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsDate.

Termination of 401(k) Plan. If requested by Acquiror in writing at least Upon the Buyer’s written request made not later than five business days before the Closing Date(5) Business Days prior to Closing, the Company shall adopt resolutions to terminate any and all Company Plans intended to qualify under Section 401(k) plans sponsored or maintained by of the Company Code, or any of its Subsidiariessuccessor statute, and prior to effective not later than the day immediately preceding the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsDate.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days The Company shall terminate, effective one (1) day prior to the Closing, any Plan that contains a cash or deferred arrangement intended to qualify under Section 401(k) of the Code (the “401(k) Plans”). On or before the Closing Date, the Company shall provide Parent with evidence that the Company Board has adopted resolutions to terminate any and all the 401(k) plans sponsored or maintained by the Company or any of its Subsidiaries, and prior to the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsPlans.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before Upon the Closing DateBuyer’s written request, prior to Closing, the Company shall terminate any and all Company Plans intended to qualify under Section 401(k) of the Code, or any successor statute, effective not later than the day immediately preceding the Closing Date. Upon the termination of such plans, the Company shall provide the Buyer with evidence that such 401(k) plans sponsored or maintained by have been terminated pursuant to resolution of the Company or any Company’s board of its Subsidiaries, and prior to directors not later than the day immediately preceding the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsDate.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before Upon the Closing DateBuyer’s written request, prior to Closing, the Company shall terminate any and all Company Benefit Plans intended to qualify under Section 401(k) of the Code, or any successor statute, effective not later than the day immediately preceding the Closing Date. Upon the termination of such plans, the Company shall provide the Buyer with evidence that such 401(k) plans sponsored or maintained by have been terminated pursuant to resolution of the Company or any Company’s board of its Subsidiaries, and prior to directors not later than the day immediately preceding the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsDate.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before Prior to the Closing DateClosing, the Company shall terminate any and all Company Plans intended to qualify under Section 401(k) of the Code, or any successor statute, effective not later than the day immediately preceding the Closing Date. Upon the termination of such plans pursuant to this Section 5.13, the Company shall provide the Buyer with evidence that such 401(k) plans sponsored or maintained by have been terminated pursuant to resolution of the Company or any Company’s board of its Subsidiaries, and prior to directors not later than the day immediately preceding the Closing Date shall provide evidence to Acquiror of such termination pursuant to resolutions of its Board of DirectorsDate.

Termination of 401(k) Plan. If requested by Acquiror in writing The Company shall have terminated the 401(k) Plan effective at least five business days before the Closing Date, the Company shall terminate any and all 401(k) plans sponsored or maintained by the Company or any of its Subsidiaries, and one day prior to the Closing Date and all contributions payable to the 401(k) Plan shall provide evidence have been made. The Company shall have provided to Acquiror of such termination pursuant to Parent executed resolutions of its the Board of DirectorsDirectors of the Company authorizing the termination of the 401(k) Plan.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before the Closing Date, the The Company shall terminate any and all its 401(k) plans sponsored or maintained by plan effective as of the Company or any of its Subsidiaries, and day prior to the Closing Date Date; provided, however, that (i) the Buyer shall provide evidence reimburse the plan participants to Acquiror of the extent that any costs, fees, expenses or charges are assessed against the 401(k) plan in connection with such termination pursuant to resolutions of its Board of Directorsand (ii) any other costs, fees, expenses or charges incurred by the Company in connection with such termination shall not be included in calculating the Pre-Closing Shortfall.

Termination of 401(k) Plan. If requested by Acquiror in writing at least five business days before At the Closing Daterequest of the Buyer, the Company shall terminate any and all its 401(k) plans sponsored or maintained by the Company or any of its Subsidiaries, and Plan no later than one day prior to the Closing Date Date. Buyer shall provide evidence cause the Buyer's 401(k) Plan to Acquiror permit the Company Employees to roll over their account balances from the Company's 401(k) Plan into the Buyer's 401(k) Plan after the Company has received a favorable determination letter from the Internal Revenue Service with respect to the termination of such termination pursuant to resolutions of its Board of Directors.Company's 401(k) Plan. - 49 - 57