Examples of Principal Employer in a sentence
The Trustee, the Company and TopCo further acknowledge an intention that, in the absence of any material adverse event, for the purposes of the Scheme’s next actuarial valuation (expected to be as at 31 March 2022), the Trustee and the Principal Employer will substantially employ the actuarial assumptions set out in Appendix B to this MOU updated for market conditions, except where noted below.
TopCo and Company confirm that (i) neither have any current plans to remove the current Trustee nor any of its directors nor to direct the Principal Employer to do this and (ii) the current trustee chairman (unless he or the trustee body decides otherwise) will remain the chairman of the Scheme's trustee body until at least completion of the Scheme's next actuarial valuation.
The Trustee and the Principal Employer have agreed that contributions required to repair the Scheme’s deficit will be paid in accordance with the schedule of contributions (the “Schedule”) and recovery plan (the “Plan”) concluded for the purpose of the Scheme’s actuarial valuation as at 31 March 2019.