Pension Liabilities. The Company has not made or granted any individual pension commitments, direct insurances, reinsurance coverage regarding pensions, general old-age pension schemes and/or other company pension schemes (betriebliche Altersvorsorge), whether of an individual or collective nature or based on works custom (betriebliche Übung), to any of its current or former Employees, except as given in EXHIBIT 3.12 (e).
Pension Liabilities. All obligations and liabilities arising from or relating to the Xxxxxx Pension Plan.
Pension Liabilities. (i) Any claims or liabilities in relation to the Xxxxxx Pension Plan (including, without limitation, any claim or liability relating to a contribution notice issued under Section 38 or Section 47 of the Pensions Xxx 0000 or a financial support direction issued under Section 43 of that Act, whether the notice or direction is issued before, on or after the Transfer Date, and any claim or liability relating to the levy to fund the Pension Protection Fund payable pursuant to the Pensions Act 2004); provided, however, that the foregoing right to indemnity shall not exist with respect to claims and liabilities for which the Purchasing Entities are entitled to indemnification under Section 11.1;
Pension Liabilities. The Company has no existing or contingent liabilities for pensions or to the PBGC which are not reflected in full on the Company’s liabilities in the financial statement on the Statement Date and the Interim Date.
Pension Liabilities. The Bankruptcy Court shall have determined that the Seller Parties can sell the Transferred Assets free and clear of any and all Liabilities related to any Employer Plan that is subject to Title IV of ERISA.
Pension Liabilities. Pension liabilities under Multiemployer Plans with respect to the employees of the DSD Business to be hired by Buyer at Closing; provided, however, that if Buyer discontinues operations at the Hayward, CA Facility during the 180-day period following the Closing, Seller will indemnify and hold Buyer harmless for any withdrawal liability in excess of $60,000.00 which is incurred by Buyer under the Multiemployer Plans related to said Facility on account of such shutdown. Notwithstanding the foregoing, any Liability under the Multiemployer Plans for contributions required to be paid for a period prior to Closing (but only for the dollar amount of contributions, charges or increases required to have been made by Seller on or prior to Closing and not for any contributions, charges or increases required to be paid after Closing or for any other adjustments to contribution amounts after the Closing), or for a withdrawal or partial withdrawal occurring prior to the Closing shall not be an Assumed Liability;
Pension Liabilities. Parent or any Subsidiary, or any member of its Controlled Group, shall fail to pay when due an amount or amounts aggregating in excess of $500,000 which it shall have become liable to pay to the PBGC or to a Plan under Title IV of ERISA; or notice of intent to terminate a Plan or Plans having aggregate Unfunded Vested Liabilities in excess of $500,000 (collectively, a “Material Plan”) shall be filed under Title IV of ERISA by Parent or any Subsidiary, or any other member of its Controlled Group, any plan administrator or any combination of the foregoing; or the PBGC shall institute proceedings under Title IV of ERISA to terminate or to cause a trustee to be appointed to administer any Material Plan or a proceeding shall be instituted by a fiduciary of any Material Plan against Parent or any Subsidiary, or any member of its Controlled Group, to enforce Section 515 or 4219(c)(5) of ERISA and such proceeding shall not have been dismissed within 60 days thereafter; or a condition shall exist by reason of which the PBGC would be entitled to obtain a decree adjudicating that any Material Plan must be terminated;
Pension Liabilities. Neither the Company nor any Subsidiary maintains, contributes to or has any liability or contingent liability with respect to any employee pension benefit plan other than statutory social security contributions under mandatory law.
Pension Liabilities. YIT has different defined contribution and defined benefit pension plans in its operating areas, to which the local regulations and practices of the countries in question are applied. YIT Group has defined benefit pension plans in Finland and, in addition, in the years 2016 and 2015 defined benefit pension plans resulting from supplementary pension insurance, the pension liability of which has been calculated based on, among others, the salary level and the number of years employed. The pension plans are managed in insurance companies, and they are managed in accordance with the local pension legislation. December 31, 2016 (EUR million) (audited) Present value of funded obligations 16.0 Fair value of plan assets -13.9 Deficit/surplus 2.1 Pension liability, net 2.1 Financial risk management General YIT Group is exposed to a variety of financial risks in its business operations. The main risks are liquidity risk, credit risk and market risks including foreign exchange and interest rate risk. The objective of the YIT Group’s financial risk management is to minimise the uncertainty which the changes in financial markets cause to the Group’s financial performance. For more information on financial risks see also “Risk factors – Risks relating to the Combined Company, its industry and operating environment”. The Board of Directors has approved a treasury policy for the Group. The Group Treasury is responsible for the practical implementation of the policy together with the operating units. In the operating units and subsidiaries the financing is carried out by financial personnel and management. Responsibilities between the Group Treasury and operating units are defined in the Group’s treasury policy. Operating units are responsible for providing the Group Treasury with timely and accurate information on financial position, cash flows and foreign exchange position in order to ensure the Group’s efficient risk management. In addition to the above, the Group’s treasury policy defines the principles and methods for financial risk management, cash management and specific financing-related areas e.g. commercial guarantees, relationships with financiers and customer financing. The following describes the financial risk management principles in accordance with YIT’s treasury policy. More detailed information on YIT’s financial risk management on each years presented in this Offering Circular are included in YIT’s audited consolidated financial statements as at and for ...
Pension Liabilities. Administrative Agent shall have completed a review of the pension liabilities of Schmalbach and its subsidiaries, and the results of such review shaxx xx xxxxonably satisfactory to Administrative Agent;
