SRC Employee definition
Examples of SRC Employee in a sentence
Nothing done or omitted to be done and no transaction or holding of any asset under or in connection with any SRC Employee Plan has or will make SRC or any affiliate of SRC or any director or officer of SRC or any affiliate of SRC subject to any liability under Title I of ERISA or liable for any Tax pursuant to Section 4975 of the Code that could have a Material Adverse Effect.
There are no accumulated funding deficiencies as defined in Section 412 of the Code (whether or not waived) with respect to any SRC Employee Plan.
The only SRC Employee Plans which individually or collectively would constitute an "employee pension benefit plan" as defined in Section 3(2) of ERISA are identified as such on Schedule 6.16.
Each SRC Employee Plan has been maintained in all material respects in compliance with its terms and with the requirements prescribed by all Applicable Laws, including but not limited to ERISA and the Code, which are applicable to such Plans.
Such plans are referred to in this Section as the "SRC Employee Plans".
There are no threatened or pending claims by or on behalf of the SRC Employee Plans, or by any participant therein, alleging a breach or breaches of fiduciary duties or violations of Applicable Laws which could result in liability on the part of SRC, its officers or directors, or such SRC Employee Plans, under ERISA or any other Applicable Law and there is no basis for any such claim.