Benefit Plans. Except as would not reasonably be expected to be material to the Company Group, considered as one enterprise, all Benefit Plans have been operated, maintained, funded and administered in compliance in all material respects with their respective terms and all applicable laws, including ERISA and the Code, and no Benefit Plan has any unfunded or underfunded liabilities. There are no pending, or to the knowledge of the Company Group, threatened material claims by or on behalf of any Benefit Plan, by any employee or beneficiary covered under any such Benefit Plan, or otherwise involving any such Benefit Plan (other than routine claims for benefits). No member of the Company Group nor any of their respective ERISA Affiliates sponsors, maintains, contributes to or has any liability, contingent or otherwise, with respect to, or has ever sponsored, maintained, contributed to or had any liability, contingent or otherwise, with respect to, any defined benefit pension plan subject to Title IV or [Section 302] of ERISA or Section 412 of the Code, a “multiemployer plan” (as defined in [Section 4001(a)(3)] of ERISA) or a “multiple employer plan” (within the meaning of Section 412(c) of the Code). No member of the Company Group has any liability, contingent or otherwise, to provide any post-retirement life, health or welfare benefits, other than liability for continuation coverage described in Part 6 of Title I of ERISA or similar applicable state laws. No Benefit Plan is a “non-qualified deferred compensation plan” subject to Section 409A of the Code. Each Benefit Plan that is intended to be qualified under Section 401(a) of the Code is the subject of a favorable determination or opinion letter from the Internal Revenue Service as to such qualification and, to the knowledge of the Company Group, nothing has occurred, whether by action or failure to act, which would reasonably be expected to adversely affect such qualification. Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated thereby (whether alone or in conjunction with a subsequent event) will entitle any employee or other service provider of the Company Group to any compensatory payment or benefit, increase the amount of any compensatory payment or benefit, accelerate the time of payment or vesting or result in the funding of any compensatory payment or benefit, or result in any loan forgiveness. No member of the Company Group has any obligation to pay any tax gross-up or similar payments.
Each Employee Benefit Plans. Except as would not reasonably be expected to be material to the Company Group, considered as one enterprise,Plan is, and at all Benefit Plans have been operated,times since inception has been, established, maintained, administered, operated and funded in all respects in accordance with its terms and administered in compliance in all material respects with their respective terms and all applicable laws, includingstatutes, orders, rules and regulations, including, without limitation, ERISA and the Code,Code. The Company, all ERISA Affiliates and noall other persons (including, without limitation, all fiduciaries) have, at all times, properly performed all of their duties and obligations (whether arising by operation of law or by contract) under or with respect to such Employee Benefit Plan has any unfunded or underfunded liabilities. There are no pending, or to the knowledge ofPlan, including, without limitation, all reporting, disclosure and notification obligations. Neither the Company Group, threatened material claims by or on behalf of any Benefit Plan, by any employee or beneficiary covered under any such Benefit Plan, or otherwise involving any such Benefit Plan (other than routine claims for benefits). No member of the Company Group nor any ERISA Affiliate has incurred, and there exists no condition or set of their respectivecircumstances in connection with which the Company, any ERISA Affiliates sponsors, maintains, contributesAffiliate or the Buyer could incur, directly or indirectly, any material liability or expense (except for routine contributions and benefit payments) under ERISA, the Code or any other applicable law, statute, order, rule or regulation, or pursuant to any indemnification or has any liability, contingent or otherwise,similar agreement, with respect to, or has ever sponsored, maintained, contributed to or had any liability, contingent or otherwise, with respect to, any defined benefit pension plan subject to Title IV or [Section 302] of ERISA or Section 412 of the Code, a “multiemployer plan” (as defined in [Section 4001(a)(3)] of ERISA) or a “multiple employer plan” (within the meaning of Section 412(c) of the Code). No member of the Company Group has any liability, contingent or otherwise, to provide any post-retirement life, health or welfare benefits, other than liability for continuation coverage described in Part 6 of Title I of ERISA or similar applicable state laws. NoEmployee Benefit Plan is a “non-qualified deferred compensation plan” subject to Section 409A of the Code.Plan. Each Employee Benefit Plan that is intended to be qualified under Section 401(a) of the Code is the subject of a favorable determination or opinion letterso qualified and its related trust is exempt from the Internal Revenue Service as to such qualification and, to the knowledgetax under Section 501(a) of the Code. Nothing has occurred or is reasonably expected by the Company Group, nothing has occurred, whether by action or failureany ERISA Affiliate to act, which would reasonably be expected tooccur that could adversely affect the qualified status of such qualification. NeitherEmployee Benefit Plan or the executiontax-exempt status of its related trust. All contributions, premiums and delivery of this Agreement norother payments due or required to be paid to (or with respect to) each Employee Benefit Plan have been timely paid, or, if not yet due, have been accrued as a liability on the consummation of the transactions contemplated thereby (whether alone or in conjunction with a subsequent event) will entitle any employee or other service provider of the Company Group to any compensatory payment or benefit, increase the amount of any compensatory payment or benefit, accelerate the time of payment or vesting or result in the funding of any compensatory payment or benefit, or result in any loan forgiveness. No member of the Company Group has any obligation to pay any tax gross-up or similar payments. Most Recent Balance Sheet.
Benefit Plans. Except as would not reasonably be expected to be material to the Company Group, considered as one enterprise, allset forth on [Schedule 3.11(b)], no Employee Benefit Plans have been operated, maintained, funded and administered in compliance in all material respects with their respective terms and all applicable laws, including ERISA and the Code,Plan is, and no Benefit Plan has any unfundedGroup Company or underfunded liabilities. There are no pending, or to the knowledge of the Company Group, threatened material claims by or on behalf of any Benefit Plan, by any employee or beneficiary covered under any such Benefit Plan, or otherwise involving any such Benefit Plan (other than routine claims for benefits). No member of the Company Group nor any of their respectiveits ERISA Affiliates sponsors, maintains, contributes to or has any liability, contingent or otherwise,Liability with respect to, or has ever sponsored, maintained, contributed to or had any liability, contingent or otherwise, with respect to, any defined benefit pension# a Multiemployer Plan; # a plan that is subject to Title IV or [Section 302] of ERISA or the minimum funding requirements of Section 412 of the Code, a “multiemployer plan” (as defined in [Section 4001(a)(3)] of ERISA) orCode; # a “multiple employer plan” (withinwithin the meaning of Section 412(c)[Section 4063 or 4064]4] of ERISA; or # a “defined benefit plan” within the Code). No membermeaning of the Company Group has any liability, contingent or otherwise,[Section 3(35)] of ERISA and subject to provide any post-retirement life,ERISA. Except as set forth on [Schedule 3.11(b)], no Employee Benefit Plan provides material health or other welfare benefits,benefits to former employees of any Group Company other than liability forhealth continuation coverage describedpursuant to COBRA at the expense of such former employee. No Group Company is or has at any time been the employer, or “connected with” or an “associate of” (as those terms are used in Part 6 of Title I of ERISA or similar applicable state laws. No Benefit Plan is a “non-qualified deferred compensation plan” subject to Section 409A of the Code. Each Benefit Plan that is intended to be qualified under Section 401(a) ofUK Pensions Act 2004) the Code is the subjectemployer, of a favorable determination or opinion letter from the Internal Revenue Service as to such qualification and, to the knowledge of the Company Group, nothing has occurred, whether by action or failure to act, which would reasonably be expected to adversely affect such qualification. Neither the execution and delivery of this Agreement nor the consummation of the transactions contemplated thereby (whether alone or in conjunction with a subsequent event) will entitle any employee or other service provider of the Company Group to any compensatory payment or benefit, increase the amount of any compensatory payment or benefit, accelerate the time of payment or vesting or result in the funding of any compensatory payment or benefit, or result in any loan forgiveness. No member of the Company Group has any obligation to pay any tax gross-up or similar payments. UK defined benefit pension plan.
Benefit Plans. Except as would not reasonably be expected to be material to the Company Group, considered as one enterprise, allset forth in [Section 2 of Schedule 4.9], each Employee Benefit Plans havePlan (and each related trust, insurance contract or funding arrangement) has been operated, maintained, fundedmaintained and administered in complianceoperated in all material respects in accordance with their respectiveits terms and complies in all material respects in form and operation with the applicable laws, includingrequirements of ERISA and the Code, and no condition exists with respect to any Employee Benefit Plan that has resulted or would reasonably be expected to result in a material liability to or any unfunded or underfunded liabilities. There are no pending, or toLien upon the knowledgeassets of the Company Group, threatened material claims by or on behalf of any Benefit Plan, by any employee or beneficiary covered under any such Benefit Plan, or otherwise involving any such Benefit Plan (other than routine claims for benefits). No member of the Company Group nor any of their respective ERISA Affiliates sponsors, maintains, contributes to or has any liability, contingent or otherwise, with respect to, or has ever sponsored, maintained, contributed to or had any liability, contingent or otherwise, with respect to, any defined benefit pension plan subject to Title IV or [Section 302] of ERISA or Section 412 of the Code, a “multiemployer plan” (as defined in [Section 4001(a)(3)] of ERISA) or a “multiple employer plan” (within the meaning of Section 412(c) of the Code). No member of the Company Group has any liability, contingent or otherwise, to provide any post-retirement life, health or welfare benefits, other than liability for continuation coverage described in Part 6 of Title I of ERISA or similar applicable state laws. No Benefit Plan is a “non-qualified deferred compensation plan” subject to Section 409A of the Code. Each Employee Benefit Plan that is intended to be qualified under Section 401(a) of the Code is the subject of(a “Qualified Benefit Plan”) has received a favorable determination letter from the Internal Revenue Service, or with respect to a prototype plan, can rely on an opinion letter from the Internal Revenue Service as to the prototype plan sponsor, to the effect that such qualificationQualified Benefit Plan is so qualified and that the plan and the trust related thereto are exempt from federal income Taxes under [Sections 401(a) and 501(a)])], respectively, of the Code, and, to the knowledgeKnowledge of the Company Group, nothingSeller, no event has occurred, whether by action or failure to act, whichoccurred that would reasonably be expected to adversely affect such qualification. Neithergive rise to the execution and delivery of this Agreement nor the consummation of the transactions contemplated thereby (whether alone or in conjunction with a subsequent event) will entitle any employee or other service provider of the Company Group to any compensatory payment or benefit, increase the amountdisqualification of any compensatory payment or benefit, accelerate the time of payment or vesting or result in the funding of any compensatory payment or benefit, or result in any loan forgiveness. No member of the Company Group has any obligation to pay any tax gross-up or similar payments. such Employee Benefit Plan.
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