Existing Plan definition
Examples of Existing Plan in a sentence
Existing Plan provisions pertaining to eligibility for and termination of coverage not specifically amended by this Section shall continue in effect.
Frankfort First and the Bank have performed in all material respects all obligations required to be performed by either of them under, are not in any material respect in default under or in violation of, and have no Knowledge of any material default or violation by any party to, any Frankfort First Existing Plan.
With respect to each employee and health and welfare benefit plan or program that replaces a Frankfort First Existing Plan, for purposes of determining eligibility to participate and vesting, service with Frankfort First or an Affiliate of Frankfort First shall be treated as service with SHC; provided, however, that such service shall not be recognized to the extent that such recognition would result in a duplication of benefits.
No legal action, suit or claim is pending or, to the Knowledge of Frankfort First, threatened with respect to any Frankfort First Existing Plan (other than claims for benefits in the ordinary course) and no fact or event exists to the knowledge of Frankfort First that could give rise to any such action, suit or claim.
The Existing Plan contemplates that, on the Effective Date, O▇▇▇▇ Corning intends to effect a restructuring plan which would organize O▇▇▇▇ Corning and its subsidiaries along O▇▇▇▇ Corning’s major business lines.