Defined Benefit Pension Plan. (a) At least fifteen days prior to the Closing Date, Seller shall take any and all actions necessary to cease benefit accruals and fully vest all Transferred Employees in their accrued benefits under the Citizens Pension Plan ("Seller's Pension Plan"). Seller shall retain all liabilities and assets for pension benefits accrued through the Closing Date by Transferred Employees and retirees of the Business under Seller's Pension Plan.
Appears in 4 contracts
Samples: Purchase and Sale Agreement (Cap Rock Energy Corp), Purchase and Sale Agreement (Citizens Utilities Co), Purchase and Sale Agreement (Cap Rock Energy Corp)
Defined Benefit Pension Plan. (a) At least fifteen days prior to the Closing Date, Seller Sellers shall take any and all actions necessary to cease benefit accruals and fully vest all Transferred Employees in their accrued benefits under the Citizens Citizens' Pension Plan ("Seller's Citizens' Pension Plan"). Seller Sellers shall retain all liabilities and assets for pension benefits accrued through the Closing Date by Transferred Employees and retirees of the Business under Seller's Citizens' Pension Plan.
Appears in 2 contracts
Samples: Purchase and Sale Agreement (Citizens Communications Co), Purchase and Sale Agreement (Atmos Energy Corp)
