Business Benefit Plan definition

Business Benefit Plan means each Benefit Plan entered into, maintained, sponsored or contributed to by Seller or any of its Subsidiaries or to which Seller or any of its Subsidiaries has any obligation to contribute, or with respect to which Seller or any of its Subsidiaries has any liability, direct or indirect, contingent or otherwise (including a liability arising out of an indemnification, guarantee, hold harmless or similar agreement), in each case with respect to any Business Employee or Former Business Employee or to any beneficiary or dependent thereof.

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Business Benefit Plan means a Benefit Plan that is sponsored, maintained or contributed to, or required to be maintained or contributed to in any country or jurisdiction for the benefit of any Business Employee.

Business Benefit Plan has the meaning set forth in Section 4.8(a).

Examples of Business Benefit Plan in a sentence

• Except to the extent required by Applicable Law, effective as of Closing, each Transferred Employee shall cease all active participation in, and accrual of benefits under, any Business Benefit Plan.

• For each material Business Benefit Plan, Seller has made available to Buyer a true, complete and correct copy of, as applicable, the governing plan document and any amendments thereto (or in the case of individual agreements that are based on a form agreement, a copy of such form); provided, that, if such Business Benefit Plan is unwritten, Seller may provide a written description of the material terms thereof.

• With respect to each Business Benefit Plan no claim, action or proceeding, with respect to the administration, investment of the assets or operation of any such plan (other than routine claims for benefits) is pending, or to the knowledge of the Seller, threatened or anticipated.

More Definitions of Business Benefit Plan

Business Benefit Plan means each Benefit Plan that is sponsored or maintained by the Company.

Business Benefit Plan means any “employee benefit plan” (as defined in Section 3(3) of ERISA), and each other material plan, program, arrangement or agreement providing bonus, incentive, deferred compensation, vacation, sick pay, stock purchase, stock option, severance, employment, change of control or fringe benefits in which any Business Employee and/or any current or former employee of a Seller’s Affiliate engaged primarily in the Business, or independent contractors or directors of the Business, participates or to which the Company or any ERISA Affiliate has any Liability, whether contingent or otherwise, arising from or related to the Business.

Business Benefit Plan means any Employee Benefit Plan maintained, or contributed to, by any Seller, Business Subsidiary, Operating Subsidiary or any ERISA Affiliate for the benefit of one or more Business Employees or former Business Employees.

Business Benefit Plan means each Benefit Plan that is contributed to, sponsored, maintained or entered into by Seller or a Retained Subsidiary, a Purchased Subsidiary or any Affiliate of any of them for the benefit of any Business Employee.

Business Benefit Plan means each Benefit Plan that is sponsored, maintained, contributed to, required to be contributed to or entered into by a Conveyed Company or any Affiliate of a Conveyed Company for the benefit of any Current Business Employee or former employee of the Business or with respect to which any Conveyed Company has any current or potential liability.

Business Benefit Plan has the meaning set forth in Section 3.13(a).

Business Benefit Plan means each Benefit Plan that is contributed to or required to be contributed to or sponsored or maintained by Seller or one of its Subsidiaries or Affiliates and under which any Business Employee or any dependent or beneficiary thereof has a present or future right to benefits (other than a Miraclon Entity Benefit Plan).