Common use of ACA Compliance Clause in Contracts

ACA Compliance. The Companies are in material compliance with the applicable requirements of the Patient Protection and Affordable Care Act of 2010, as amended (“ACA”), including all requirements related to eligibility waiting periods and the offer of or provision of minimum essential coverage that is compliant with Section 36B(c)(2)(C) of the Code and the regulations issued thereunder to full-time equivalent employees as defined in Section 4980H(c)(4) of the Code and the regulations issued thereunder. No material excise tax or penalty under the ACA, including Section 4980D and 4980H of the Code, is outstanding, has accrued, has arisen or could reasonably arise with respect to any period prior to the Closing, with respect to the Companies or any Company Plan. The Companies have maintained all records necessary to demonstrate compliance with the ACA and other similar applicable state or local Law.