Assumed Benefit Plans. Buyer and its Affiliates shall assume all assets and Liabilities related to all Assumed Benefit Plans.
Assumed Benefit Plans. Section 8.9 WARN Act Section 10.3 Unions Table of Contents PURCHASE AND SALE AGREEMENT This PURCHASE AND SALE AGREEMENT (the “Agreement”), dated as of May 30, 2008 (the “Effective Date”), is entered into by and among ASARCO LLC, a Delaware limited liability company (“ASARCO”); AR Silver Xxxx, Inc., a Delaware corporation (“ARSB”); Copper Basin Railway, Inc., a Delaware corporation (“CBRI”); and ASARCO Santa Xxxx, Inc., a Delaware corporation (“Santa Xxxx”, together with ARSB and CBRI, “Non-Debtor Sellers”; ASARCO and Non-Debtor Sellers collectively referred to herein as “Sellers”, and each individually, a “Seller”); and Sterlite (USA), Inc., a Delaware corporation (“Purchaser”); and Sterlite Industries (India) Ltd, an Indian limited liability company (“Purchaser Parent”).
Assumed Benefit Plans. The Purchaser and each of its Affiliates will assume the Seller Plans which it is required under the Laws of the applicable jurisdiction to assume (the “Assumed Benefit Plans”) and will: (i) establish new employee benefit or fringe benefit plans, funds or programs to cover the Transferred Employees (and, to the extent appropriate, their dependents and other beneficiaries); or (j) cover the Transferred Employees (and, to the extent appropriate, their dependents and other beneficiaries) under its existing employee benefit or fringe benefit plans, funds or programs; or (k) any combination of clauses (a) and (b) above, as the Purchaser and its Affiliates, may determine, shall be in furtherance of the Purchaser’s and its Affiliates’ obligations under this Section 10.3. Section 10.4
Assumed Benefit Plans. (i) As of the Closing Date, Purchaser or one of its designated Affiliates shall assume and comply with the “Assumed Benefit Plans” (as set forth on Section 5.7(k) of the Seller Disclosure Schedules). Purchaser shall be solely and entirely responsible for satisfying any and all Liabilities with respect to the Transferred Business Employees (including any beneficiaries or dependents thereof) with respect to the Assumed Benefit Plans. Neither the Seller nor any of its Affiliates shall have any Liability whatsoever with respect to Transferred Business Employees for benefits under the Assumed Benefit Plans. The Seller and Purchaser shall take all actions necessary and appropriate to establish Purchaser as the successor to all of the Seller’s rights, duties and Liabilities with respect to the Transferred Business Employees under the Assumed Benefit Plans.
Assumed Benefit Plans. All Assumed Benefit Plans.
Assumed Benefit Plans. The Purchaser and each of its Affiliates will assume the Seller Plans which it is required under the Laws of the applicable jurisdiction to assume (the “Assumed Benefit Plans”) and will:
Assumed Benefit Plans. With effect from the Closing Date, the Purchaser and each of its Affiliates will, and the Purchaser will cause the other Designated Affiliates to, assume responsibility for all of the Assumed Benefit Plans, and in order to comply with the obligations under this Agreement will:
Assumed Benefit Plans. (a) As of the Closing Date, Purchaser or its Affiliates shall assume the obligations under the Company Benefit Plans maintained by Purchased Entities or any of their Subsidiaries and which are set forth in the letter agreement provided to Purchaser on the date hereof (the "Assumed Benefit Plans"). In addition, as Purchaser or its Affiliates, as the case may be, deems necessary or advisable in furtherance of its obligations under this Agreement, they shall (i) establish new employee benefit plans, (ii) cover the Transferred Employees under their existing employee benefit plans and/or Assumed Benefit Plans or (iii) any combination of the above. Seller and its Affiliates agree to cooperate in good faith and do all things reasonably necessary to assist Purchaser and its Affiliates in this regard.
Assumed Benefit Plans. Where permitted under local Law, Seller or its Affiliates shall cause to be transferred to Purchaser or its Affiliate, or the relevant employee benefit plan of Purchaser or its Affiliate, such cash, insurance contracts and other assets held or maintained by the Seller or its Affiliate with respect to each Assumed Benefit Plan (other than those described in Sections 7.05(b)) as of the date of transfer in such amount as the Seller and the Purchaser shall mutually agree. Such transfer shall be made as soon as practical following the Closing Date.
Assumed Benefit Plans. Each Existing Plan to be assumed by Buyer in connection with the acquisition (hereinafter referred to as an "Assumed Benefit Plan") is identified as such on the Disclosure Schedule. With respect to each Assumed Benefit Plan:
