Termination of Pension Plan. Unless otherwise stated by Acquiror in writing, Target shall, immediately prior to the Closing Date, terminate Target's 401(k) Plan (the "401(k) PLAN") and no further contributions shall be made to the 401(k) Plan, provided that as a condition of such termination Target's employees shall be eligible to participate in Acquiror's 401(k) plan immediately following the Closing Date. Target shall provide to Acquiror (i) executed resolutions by the Board of Directors of Target authorizing the termination and (ii) an executed amendment to the 401(k) Plan sufficient to assure compliance with all applicable requirements of the Code and regulations thereunder so that the tax-qualified status of the 401(k) Plan will be maintained at the time of termination.
Termination of Pension Plan. If required by Parent in writing, the Company shall, immediately prior to and contingent upon the Closing Date, have terminated the Company 401(k) Plan (the "Plan") and no further contributions shall be made to the Plan. The Company shall provide to Parent (i) executed resolutions by the Company Board authorizing the termination and (ii) an executed amendment to the Plan , which in the Parent's reasonable judgment is sufficient to assure compliance with all applicable requirements of the Code and regulations thereunder.
Termination of Pension Plan. If the Pension Plan is terminated in its entirety, in accordance with Section 6.4, the assets of the Fund shall be disbursed in accordance with the Pension Plan.
Termination of Pension Plan. The Company shall have terminated the Company 401(k) Plan and no further contributions shall have been made to the 401(k) Plan. The Company shall have provided to Parent (i) executed resolutions by the Board of Directors of the Company authorizing the termination and (ii) an executed amendment to the 401(k) Plan sufficient to assure compliance with all applicable requirements of the Internal Revenue Code and regulations thereunder so that the tax-qualified status of the 401(k) Plan will be maintained at the time of termination.
Termination of Pension Plan. Effective as of the day immediately preceding the Effective Time, SkillSoft and its ERISA Affiliates, as applicable, shall each terminate any and all group severance, separation or salary continuation plans, programs or arrangements and any and all plans intended to include a Code Section 401(k) arrangement (unless SmartForce consents, as evidenced by written notice to SkillSoft, to the continuation of any such plan, program or arrangement, which consent shall not be unreasonably withheld) (collectively, "SkillSoft Terminating Plan(s)"). SmartForce agrees that the Continuing Employees shall be eligible to participate, to the extent they were eligible to participate in the SkillSoft Terminating Plan, in a comparable SmartForce plan, program or arrangement, as promptly following the Effective Time as is permitted by the terms of such SmartForce plan, program or arrangement. Unless SmartForce provides such written consent to SkillSoft, no later than three business days prior to the Effective Time, SkillSoft shall provide SmartForce with evidence that such SkillSoft Terminating Plan(s) have been terminated (effective as of the day immediately preceding the Effective Time) pursuant to resolutions of SkillSoft's Board of Directors. SkillSoft also shall take such other actions in furtherance of terminating such SkillSoft Terminating Plan(s) as SmartForce may reasonably require.
Termination of Pension Plan. The institution of any steps by Issuer or any ERISA Affiliate or any other Person to terminate a Pension Plan if, as a result of such termination, Issuer or any such ERISA Affiliate could be required to make a contribution to such Pension Plan, or could reasonably expect to incur a liability or obligation to such Pension Plan, and such contribution, liability or obligation could reasonably be expected to have a Material Adverse Effect;
Termination of Pension Plan. (a) The Sponsor Board may only terminate and wind-up the Plan in accordance with this Article 8.2.
Termination of Pension Plan. If the Pension Plan is terminated and wound up in accordance with the Sponsors Agreement, the Employer shall pay into the Fund, amortized over a 5 year period:
Termination of Pension Plan. If notified by Acquiror in writing at least 20 days prior to the Closing Date, Target shall, at least one day prior to the Closing Date and conditioned on the Closing occurring, terminate Target's 401(k) Plan (the "401(k) PLAN") and no further contributions shall be made to the 401(k) Plan, provided that as a condition of such termination Target's employees shall be eligible to participate in Acquiror's 401(k) plan as soon as administratively feasible following the Closing Date. Target shall provide to Acquiror (i) executed resolutions by the Board of Directors of Target authorizing the termination and (ii) an executed amendment to the 401(k) Plan sufficient to assure compliance with all applicable requirements of the Code and regulations thereunder so that the tax-qualified status of the 401(k) Plan will be maintained at the time of termination. Target shall file a Form 5310 with the Internal Revenue Service and obtain a favorable determination letter upon plan termination.
Termination of Pension Plan. (a) Prior to December 31, 2015, Sellers shall cause BMI (“Plan Sponsor”) and the Company to take effective action to terminate and freeze all future benefit accruals and entry into plan participation for the Company’s current, future and former employees who are or who would, absent such action, otherwise be eligible to participate in the Burman’s Medical Supplies, Inc. Pension Plan (the “Pension Plan”) (this action is the “Pension Plan Freeze”, and the Company employees to which the action relates are the “Company Participants”)), with the Pension Plan Freeze to be effective on a date no later than December 31, 2015.
