Examples of Spinco Pension Plans in a sentence
FairPoint shall be solely responsible for all ongoing rights of or relating to Spinco Employees for future participation in the Spinco Pension Plans and the Spinco Excess Pension Plan.
The transfer of any Spinco Group Employee’s employment to the Spinco Group will not result in the loss of that Spinco Group Employee’s unvested accrued benefits (if any) under the Parent Divided Pension Plans, the Liability for which benefits shall be assumed under the Spinco Pension Plans as provided herein.
For all periods after the Operational Separation Date, the Parties agree that the applicable fiduciaries of each of the Parent Divided Pension Plans and the Spinco Pension Plans, respectively, shall have the authority with respect to the Parent Divided Pension Plans and the Spinco Pension Plans, respectively, to determine the plan investments and such other matters as are within the scope of their duties under ERISA and the terms of the applicable plan documents.
By accepting the assets transferred, Spinco acknowledges that it and not NSI is serving as the fiduciary for the Spinco Master Pension Trust with respect to the determination and actual transfer of assets from the NSI Master Pension Trust and that, acting as fiduciary for the Spinco Pension Plans, Spinco further acknowledges that it is able to change the asset allocation as it deems appropriate at any time.
Verizon will pay the Differential to either Frontier or an underfunded Spinco Pension Plan (or Plans) identified by Frontier; provided, however, that if the Differential is paid directly to Frontier, Frontier shall contribute the entire amount to one or more of the underfunded Spinco Pension Plans as soon as practicable.
As soon as administratively practicable, but in no event later than sixty (60) days, following the Effective Time, Verizon or a member of the Verizon Group shall provide to Frontier copies of all such beneficiary designations, payments forms, and all other documents, files and other information that Frontier may need to administer the Spinco Pension Plans and the Spinco Excess Pension Plan in accordance with the terms of this Agreement.
Assumption of Spinco Pension Plans and Related Liabilities.................................
Spinco shall, prior to the end of the remedial amendment period for the Spinco Pension Plans, apply for determination letters from the Internal Revenue Service that shall provide that the Spinco Pension Plans and the Spinco Master Pension Trust satisfy the requirements for qualification under Code sections 401(a) and 501(a), and Spinco shall take all actions necessary or appropriate to obtain such letters.
Frontier shall be solely responsible for all ongoing rights of or relating to Spinco Employees for future participation in the Spinco Pension Plans.
ASSUMPTION OF SPINCO PENSION PLANS AND RELATED LIABILITIES Effective no later than the Close of the Distribution Date, Spinco or a member of the Spinco Group shall take all actions necessary to become the plan sponsor of the Spinco Pension Plans and shall be responsible for all Liabilities relating to the Spinco Pension Plans, subject to the transfer of related assets as provided in Section 3.3 below.