Active Company definition
Examples of Active Company in a sentence
All Active Company Subsidiaries and their respective jurisdictions of incorporation are identified in Schedule 3.5 of the Company Disclosure Schedule.
Effective on and after January 1, 2005, such Active Company Employees will participate in one or more comparable plans of Buyer.
Active Company Employees who have health care spending accounts or dependent care spending accounts, on the Closing Date, under any Seller Benefit Plan ("▇▇▇▇▇▇'▇ FLEXIBLE ACCOUNT PLAN") will continue to participate in ▇▇▇▇▇▇'▇ Flexible Account Plan with respect to the health care spending accounts or dependent care spending accounts for claims incurred through December 31, 2004.
The Buyer shall not involuntarily terminate the employment of any Active Company Employees on the Closing Date (i.e., termination other than due to death or resignation).
The parties agree that an Employee on Leave who returns to active employment with the Companies at his or her former work location not later than twelve (12) weeks from the Non-STP Acquisition Closing Date or, in the case of the Scheduled Employees, the STP Acquisition Closing Date (or such later date as required by Law) shall be considered an Active Company Employee as of the date such individual returns to active employment with a Company at his or her former work location.
Active Company Employees who are absent from work as of the Closing Date because of disability and who are participants in the long-term disability insurance plan maintained by Sellers (the "SELLER'S LONG-TERM DISABILITY PLAN") shall continue to be covered with respect to such disability under the Seller's Long-Term Disability Plan following the Closing for as long as such coverage remains in effect under such plan as in effect from time to time.
Parents shall retain all responsibility and liability for any wages, compensation or benefits for any individual employee while such individual is an Employee on Leave until (and if) such individual becomes an Active Company Employee.
Sellers and the Seller Welfare Plans shall be liable for all claims incurred at any time for individuals who are not Active Company Employees or Former Employees (and their spouses and dependents) and for all claims incurred (whether or not reported) prior to the Closing Date with respect to Active Company Employees and Former Employees and their spouses and dependents under the Seller Welfare Plans.
Buyer shall establish a post-retirement welfare benefit plan ("BUYER'S PRB PLAN") for the benefit of the Active Company Employees and Former Employees and their respective spouses and dependents that provides benefits that are substantially comparable to the benefits provided under Sellers' post-retirement welfare plan.
The Buyer shall, or shall cause the Sold Companies and the Subsidiaries to, credit each Active Company Employee with the unused vacation days to which the Active Company Employee is entitled through the Closing Date; provided that if Sellers shall be required by applicable Law to pay any Active Company Employee the cash value of their unused vacation days described in this SECTION 5.7(H), then Buyer shall reimburse Sellers for the amount so paid by Sellers and shall not be required to honor such days.