Buyer DC Plan definition

Buyer DC Plan has the meaning set forth in Section 5.2(f).
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Buyer DC Plan shall have the meaning assigned thereto in Section 6.3(g)(ii).
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Buyer DC Plan means the defined contribution plan(s) and related trust(s) intended to be qualified under Sections 401(a), 401(k) and 501(a) of the Code that is sponsored by Buyer or one of its Affiliates and in which Transferred Employees are eligible to participate after Closing.
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Examples of Buyer DC Plan in a sentence

  • The DC Employees shall be given credit under the respective Buyer DC Plan for all service with Seller and its Affiliates and their respective predecessors as if it were service with Buyer for purposes of determining eligibility and vesting under each respective Buyer DC Plan, solely to the extent such service is credited for the purposes of the applicable defined contribution plan in which the Transferred Employee participated immediately prior to Closing.

  • The Buyer DC Plan shall protect, maintain and continue any rights or features of the Seller DC Plan that, pursuant to the provisions of Section 411(d)(6) of the Code, are required to be continued for the benefit of the Employees, but only to the extent required by Section 411(d)(6).

  • To the extent required under the Collective Bargaining Agreement, the Buyer DC Plan shall have terms and features (including employer contribution provisions) that are substantially identical to the applicable hourly Seller DC Plan that covers union Transferred Employees.

  • As promptly as practicable after the Closing Date, the Seller shall cause the trustee of the El Paso Energy Corporation Retirement Savings Plan ("Seller DC Plan") to transfer to the trustee of the Buyer DC Plan, and the Buyer shall cause the trustee of the Buyer DC Plan to accept, the account balances of each Employee with respect to whom the Seller DC Plan maintains an account as of the close of business on the Closing Date.

  • Effective as of the Applicable Transfer Time or any subsequent date reasonably requested by Buyer (but not later than the 60th day following the Applicable Transfer Time), all such Transferred Employees shall be eligible to effect a “direct rollover” (as described in Section 401(a)(31) of the Code) of their account balances (including participant loans) under the Seller DC Plan to the Buyer DC Plan in the form of cash and participant loan notes.

  • For the avoidance of doubt, the Buyer DC Plan shall not accept rollovers of any employer securities (including any securities of Parent) from any Seller Plan.

  • The Buyer shall cause the Buyer DC Plan to accept the rollover contribution of any Company employee who is a participant in the Seller DC Plan and who elects to rollover his or her interest in the Seller DC Plan to the Buyer DC Plan.

  • Each Non-U.S. Buyer DC Plan will target the same benefit value as, provide a benefit design that is equivalent to, provide employer contribution formulas and provisions that are equivalent in value to the employer contribution formulas and provisions in, and where applicable offer a range of investment options that is similar to that provided under, each corresponding Non-U.S. Seller DC Plan as of the Closing.

  • The DC Employees will be given credit under the respective Non-U.S. Buyer DC Plan for all service with and compensation from Sellers or their Affiliates as if it were service with and compensation from Buyers and their Affiliates for purposes of determining eligibility, vesting and the amount of any benefits or benefit accruals under each respective Non-U.S. Buyer DC Plan.

  • Buyer shall cause the Buyer DC Plan to provide such distribution options and other benefits, rights and features with respect to the transferred assets as are required under Section 411(d)(6) of the Code and the regulations issued thereunder.


More Definitions of Buyer DC Plan

Buyer DC Plan has the meaning specified in Section 9.7(h).
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Buyer DC Plan is defined in Section 5.5(h).
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Buyer DC Plan has the meaning set forth in ss.6(d)(ii).
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Buyer DC Plan has the meaning set forth in Section 6.7(c) (Employee Matters).
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Buyer DC Plan has the meaning given such term in Section 9.3(f). Equity Purchase Agreement
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Related to Buyer DC Plan

  • Seller Benefit Plan means each Employee Benefit Plan that is sponsored or maintained or required to be sponsored or maintained at any time by any of the Sellers or an ERISA Affiliate or to which any of the Sellers or an ERISA Affiliate makes or has an obligation to make, contributions and which is provided to, for the benefit of or relates to any Business Employee or Independent Contractor.

  • Company Share Plans mean (a) the Company’s Stock Related Award Incentive Plan of 1999, as amended; (b) the Company’s 2010 Stock Incentive Plan, as amended; and (c) the Company’s 2015 Stock Incentive Plan, as amended;

  • Buyer Party means each Affiliate of Buyer that is, or is contemplated by this Agreement to become at the Closing, a party to one or more Transaction Agreements. For clarity, none of the Acquired Companies shall be deemed to be a “Buyer Party” hereunder.