CPC Business definition
Examples of CPC Business in a sentence
In accordance with the terms of the Alco Standard Corporation Stock Participation Plan ("Alco Stock Plan"), all active employees of the CPC Business whose employment with Seller terminates as of the Closing Date shall become fully vested in the balances standing to the credit of their accounts under the Alco Stock Plan as of that date and shall be entitled to receive distribution of such accounts as soon as may be administratively practicable after the Closing Date.
To the knowledge of Seller and Alco, none of the customers or suppliers of the CPC Business has refused, or communicated that it will or may refuse to purchase or supply goods or services, as the case may be, or has communicated that it will or may substantially reduce the amounts of goods or services that it is willing to purchase from, or sell to, the CPC Business.
Seller agrees that it shall retain the responsibility relating to former employees of the CPC Business who retired and are receiving benefits under the Alco Plan before the Closing Date or whose employment terminated before the Closing Date or contemporaneously, with the Closing Date and who are not hired by Buyer, and who have a right to receive benefits under the Alco Plan, and that assets and liabilities under the Alco Plan that are attributable thereto shall not be transferred.
As of the Closing Date, all active employees of the CPC Business whose employment with Seller terminates who are hired by Buyer, and who are participants in the Alco Standard Corporation Participating Companies Pension Plan (the "Alco Plan") shall become participants in an existing or new defined benefit pension plan maintained by Buyer or an affiliate of Buyer (the "New Plan").
As promptly as practicable, but in no event later than forty-five (45) days after the Closing Date, Buyer will cause the management of the CPC Business to prepare an unaudited balance sheet of the CPC Business as of the Closing (the "Closing Balance Sheet") for the purpose of establishing the Net Book Value as of the close of business on the Closing Date (the "Closing Net Book Value").
Within 120 day of the Closing Date or as soon as practicable thereafter, Seller shall cause the transfer from the Alco Plan to the New Plan of the assets and liabilities, in cash, as of the Closing Date, of all active participants in the Alco Plan employed by the CPC Business on the day before the Closing Date who are hired by Buyer.
The CPC Business has been operating as a division of Seller with respect to the Menasha Operations and as a subsidiary of Seller with respect to the other manufacturing facilities.
The Recipient, Coordinator and Contractor shall confirm the receipt of the copies of the CPC Code of Business Conduct, CPC Business Principles and "Procedure for the reporting by employees of the Joint-Stock Company “Caspian Pipeline Consortium-R” to the Security Service of any threats of or committed acts of illegal interference".
Through its Central Products Division and its subsidiary Central (hereinafter collectively "CPC"), Seller is engaged in the business of manufacturing and selling water activated and pressure sensitive carton sealing tapes from facilities in Linden, New Jersey, Menasha, Wisconsin and Brighton, Colorado and intends to sell the business conducted from the Menasha and Brighton facilities (the business conducted from the Menasha and Brighton facilities are referred to herein as the "CPC Business").
The Recipient, Coordinator and Contractor agree that their compliance with the CPC Business Principles in the process of cooperation with the Benefactor is a mandatory requirement and essential condition of this Agreement, and undertake to not violate any of the provisions of the CPC Business Principles in the process of implementation of the Agreement.