Examples of Existing Benefit Plan in a sentence
In the event of a consolidation of any or all of such plans or in the event of termination of any CSFC Existing Benefit Plan, except as otherwise set forth in this Section 3.12, employees of CSFC or City Savings Bank who continue as employees of LPSB after the Effective Time (“Continuing Employees”) shall be eligible to participate in any LPSB employee plan of similar character immediately upon such consolidation or as of the first entry date coincident with or immediately following such termination.
If requested by LPSB in writing not later than ten (10) days before the Closing Date and provided that LPSB has indicated in writing that the conditions to its obligations set forth in Section 7.2 hereof have been satisfied or waived, CSFC shall take such steps within its power to effectuate a termination of any CSFC Existing Benefit Plan as of the Closing Date, provided that the CSFC Existing Benefit Plan can be terminated within such period.
Have, or permit any of its ERISA Affiliates to ------------- have, any Benefit Plan other than an Existing Benefit Plan.
Continuing Employees shall receive credit for service with CSFC or City Savings Bank for purposes of determining eligibility and vesting but not for purposes of accruing benefits under any similar LPSB Existing Benefit Plan except that Continuing Employees shall be treated as new employees under the to-be-formed LBSP Employee Stock Ownership Plan.
Have, or permit any of its ERISA Affiliates to have, any Benefit Plan other than an Existing Benefit Plan.