Common use of Prior to the Closing Date Clause in Contracts

Prior to the Closing Date. the Seller shall procure that the Company terminates its UK pension plan for all employees of the Company prior to Closing Date with effect as of 31 December 2006 in full compliance with all applicable laws including any obligation to consult with the employees concerned. The Purchaser undertakes with the Seller that all relevant employees who are currently members of this scheme shall be invited to become members of an alternative stakeholder pension scheme in the UK with effect on and from 31 December 2006. The Seller shall indemnify the Company and the Purchaser against: (i) any debt which may be treated as due from the Company to the trustees of the UK pension plan under section 75 of the Pensions ▇▇▇ ▇▇▇▇; and (ii) against any contribution notice or financial support direction that may be issued pursuant to the Pensions ▇▇▇ ▇▇▇▇ in relation to the UK pension plan.