Common use of COBRA ISSUES Clause in Contracts

COBRA ISSUES. The Buyer shall be a successor employer of Seller solely for the purposes of providing continuation coverage to the extent required under Code Section 4980B and ERISA Section 601 to individuals receiving such continuation coverage on the Effective Date and individuals qualifying (or who would otherwise qualify but for this Section 4.5) for such coverage commencing on or after the Effective Date. The Seller shall be liable for any and all liabilities, costs, expenses and fees whatsoever arising under Code Section 4980B and ERISA Section 601 before the Effective Date.

COBRA ISSUES. The Buyer shall be a successor employer of Seller the Sellers solely for the purposes of providing continuation coverage to the extent required under Code Section 4980B and ERISA Section 601 to individuals receiving such continuation coverage on the Effective Date and individuals qualifying (or who would otherwise qualify but for this Section 4.5) for such coverage commencing on or after the Effective Date. The Seller Sellers shall be liable for any and all liabilities, costs, expenses and fees whatsoever arising under Code Section 4980B and ERISA Section 601 before the Effective Date.