Common use of Reduction of Liability Clause in Contracts

Reduction of Liability. The liability of a party furnishing a bond or escrow shall be reduced, upon payment of any bond or escrow to the Surviving Plans, by the amount thereof in accordance with Section 4204(a)(4) of ERISA.

Appears in 3 contracts

Sources: Asset Purchase Agreement (CVS Corp), Asset Purchase Agreement (Albertsons Inc /De/), Asset Purchase Agreement (Supervalu Inc)

Reduction of Liability. The liability of a party furnishing a bond or escrow shall be reduced, upon payment of any bond or escrow to the Surviving PlansMultiemployer Plan, by the amount thereof in accordance with Section 4204(a)(4) of ERISA.

Appears in 1 contract

Sources: Asset Purchase Agreement (Trinity Industries Inc)

Reduction of Liability. The liability of a party furnishing a bond or escrow shall be reduced, upon payment of any bond or escrow to the Surviving Plans, by the amount thereof in accordance with Section 4204(a)(4) of ERISA.)

Appears in 1 contract

Sources: Asset Purchase Agreement