Defined Benefit Plans. The Company has not maintained or contributed to a defined benefit plan as defined in Section 3(35) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). No plan maintained or contributed to by the Company that is subject to ERISA (an “ERISA Plan”) (or any trust created thereunder) has engaged in a “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) that could subject the Company to any material tax penalty on prohibited transactions and that has not adequately been corrected. Each ERISA Plan is in compliance in all material respects with all reporting, disclosure and other requirements of the Code and ERISA as they relate to such ERISA Plan, except for any noncompliance which would not result in the imposition of a material tax or monetary penalty. With respect to each ERISA Plan that is intended to be “qualified” within the meaning of Section 401(a) of the Code, either (i) a determination letter has been issued by the Internal Revenue Service stating that such ERISA Plan and the attendant trust are qualified thereunder, or (ii) the remedial amendment period under Section 401(b) of the Code with respect to the establishment of such ERISA Plan has not ended and a determination letter application will be filed with respect to such ERISA Plan prior to the end of such remedial amendment period. The Company has never completely or partially withdrawn from a “multiemployer plan,” as defined in Section 3(37) of ERISA.
Defined Benefit Plans. The Company does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined benefit plan" (as defined in Section 3(35) of ERISA), whether or not terminated.
Defined Benefit Plans. Neither the Company nor any of the Subsidiaries is engaged in any unfair labor practice. Except for matters that would not, individually or in the aggregate, have a Material Adverse Effect, (i) there is (A) no unfair labor practice complaint pending or, to the Company’s or the Operating Partnership’s knowledge, threatened against the Company or any of the Subsidiaries before the National Labor Relations Board, and no grievance or arbitration proceeding arising out of or under collective bargaining agreements is pending or, to the Company’s or the Operating Partnership’s knowledge, threatened; (B) no strike, labor dispute, slowdown or stoppage pending or, to the Company’s or the Operating Partnership’s knowledge, threatened against the Company or any of the Subsidiaries; and (C) no union representation dispute currently existing concerning the employees of the Company or any of the Subsidiaries; (ii) to the Company’s or the Operating Partnership’s knowledge, no union organizing activities are currently taking place concerning the employees of the Company or any of the Subsidiaries; and (iii) there has been no violation of any federal, state, local or foreign law relating to discrimination in the hiring, promotion or pay of employees, any applicable wage or hour laws or any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) or the rules and regulations promulgated thereunder concerning the employees of the Company or any of the Subsidiaries.
Defined Benefit Plans. 7 3.1 FREEZING OF PENSION PLAN BENEFITS................................7 3.2 CREDITING SERVICE UNDER ATI'S PENSION PLAN.......................7
Defined Benefit Plans. 8 3.1 ESTABLISHMENT OF TELEDYNE TECHNOLOGIES PENSION PLAN AND TRUST...........................8 3.2 ASSUMPTION OF PENSION PLAN LIABILITIES AND ALLOCATION OF INTERESTS IN THE ATI MASTER PENSION TRUST...................................................................8 3.3 FREEZING OF PENSION PLAN BENEFITS.......................................................9 3.4 CREDITING SERVICE UNDER ATI'S PENSION PLAN..............................................9
Defined Benefit Plans. 33 Section 6.03
Defined Benefit Plans. The Seller Entities shall retain all liabilities and obligations arising under or attributable to the Xxxxxxx & Xxxxxxxxx Pension Plan (the "Seller Pension Plan"). Accrued benefits of Transferred Employees shall be fully vested as of the Employee Transfer Date. The Seller Pension Plan shall cease accruals in respect of Transferred Employees as of their Employee Transfer Date. No assets or liabilities shall be transferred to or assumed by the Partnership. Effective as of the Closing Date, the Partnership shall provide coverage under a tax-qualified pension plan (the "New Pension Plan") for all Transferred Employees who participated in the Seller Pension Plan prior to their Employee Transfer Date. Such Transferred Employees' vesting service and eligibility service, as of the applicable Employee Transfer Date, shall constitute vesting service and eligibility service under the New Pension Plan for purposes of determining vesting and eligibility and for such other purposes as such service may be relevant under the terms of the New Pension Plan. Credited service under the Seller Pension Plan as of the Employee Transfer Date shall constitute credited service under the New Pension Plan for purposes of benefit accrual determinations. Service earned under the New Pension Plan after the Employee Transfer Date or employment with the Partnership, if applicable, shall constitute qualifying service or employment under the Seller Pension Plan for purposes of eligibility for early retirement, subsidized early retirement, death and other similar benefits. The accrued benefit of the Transferred Employees payable under the New Pension Plan shall be offset by the normal retirement benefit accrued under the Seller Pension Plan as of the applicable Employee Transfer Date based on credited service and salary history prior to the Employee Transfer Date. The Seller Entities shall provide Buyer with a schedule of the amounts of such accrued benefits and shall provide each Transferred Employee with the amount of his/her accrued benefit as soon as practicable after the applicable Employee Transfer Date. Buyer and Buyer's actuary shall have the right to review all supporting information, work papers and procedures used to prepare such schedule and shall have the right to perform such other procedures as they deem necessary to satisfy themselves of the accuracy thereof. Buyer agrees that to the extent that post-Closing Date information regarding service by the Transferred Employees with...
Defined Benefit Plans. With respect to each of the Retirement Income Plan for Salaried Employees of Essex Group, Inc. (the "Salaried Plan") and the Retirement Income Plan for Hourly Employees of Essex Group, Inc. (the "Hourly Plan", together with the Salaried Plan, the "Seller Pension Plans"), the parties agree as follows:
Defined Benefit Plans. HI does not maintain, contribute to or have any liability under (or with respect to) any employee plan which is a tax-qualified "defined benefit plan" (as defined in Section 3(35) of ERISA), whether or not terminated.
Defined Benefit Plans. None of the Borrower or its Material Subsidiaries maintains or has maintained at any time a Defined Benefit Plan.
