Examples of material benefit in a sentence
All Material Benefit Plans that are Foreign Benefit Plans (a) have been maintained in all material respects in accordance with all applicable requirements, (b) if they are intended to qualify for special Tax treatment, meet all requirements for such treatment, and (c) if they are intended to be funded and/or book-reserved, are funded and/or book reserved, as appropriate, based upon actuarial assumptions that are reasonable in the aggregate.
Schedule 4.12 also indicates each Benefit Plan which is an "employee pension benefit plan" within the meaning of Section 3(2) of ERISA (a "Pension Plan") or under which the remaining contribution obligations of the Company exceed $100,000 (collectively, the "Material Benefit Plans").
Each of the three Material Benefit events listed in Schedule 4.5 is comprised of a development event followed by the occurrence of a further event (e.g., regulatory approval – see Schedule 4.5 for details).
The purpose of this form is to document that a potential for Material Benefit has been identified which shall, if the other required event also occurs, result in the achievement of a Material Benefit, subject to and in accordance with the terms of Section 4.5. Nothing in this form is intended to, or does, modify any of the terms in the Agreement relating to the determination of if or when a Material Benefit is achieved.
If, in connection with a GSK Independent Program other than a GSK Unilateral Program, GSK accesses the 23andMe Databases or the 23andMe Data Mining Technologies for Validation Activities in connection with a Target other than an Identified Target or Collaboration Target, the JRC will, if applicable, complete the form attached hereto as Schedule 4.5-A with respect to any identified potential for Material Benefit and provide such completed form to the JSC for review and approval.