Schlage definition
Examples of Schlage in a sentence
Effective as of the Effective Time, Allegion (acting directly or through members of the Allegion Group) hereby agrees to cause the Schlage Lock Company LLC Pension Plan to assume, fully perform, pay, and discharge all Liabilities under the Parent Pension Plans relating to all Schlage Lock Company LLC Pension Plan Participants as of the Effective Time.
Allegion shall be responsible for taking all necessary, reasonable, and appropriate action to establish, maintain, and administer the Schlage Lock Company LLC 401(k) Plans so that they are qualified under Section 401(a) of the Code and that the related trust thereunder is exempt under Section 501(a) of the Code.
The Allegion Group Employees and Former Allegion Group Employees described here shall be known as the “Schlage Lock Company LLC Pension Plan Participants.” Effective as of the Effective Time, either Schlage Lock Company LLC shall remain the plan sponsor of the Schlage Lock Company LLC Pension Plan or Allegion shall or shall cause another Allegion Entity to assume the Schlage Lock Company LLC Pension Plan.
No later than thirty (30) days prior to the Effective Time, IR and Allegion (acting directly or through members of the IR Group or the Allegion Group, respectively) shall, to the extent necessary, file an IRS Form 5310-A regarding the transfer of Assets and Liabilities from the IR Pension Plan to the Schlage Lock Company LLC Pension Plan.
Furthermore, no later than thirty (30) days prior to the Effective Time, IR and Allegion (each acting directly or through their respective Affiliates) shall, to the extent necessary, file IRS Form 5310-A regarding the transfer of Assets and Liabilities from the IR Savings Plans to the Schlage Lock Company LLC 401(k) Plans as discussed in this Article VII.