Effective Immediately After the Distribution Date Sample Clauses
The 'Effective Immediately After the Distribution Date' clause establishes that certain terms or provisions of an agreement will take effect as soon as the specified distribution date has passed. In practice, this means that any rights, obligations, or changes outlined in the agreement become operative without delay following the completion of a distribution event, such as the allocation of shares or assets. This clause ensures a clear and unambiguous transition point, preventing confusion about when new terms apply and facilitating smooth implementation of post-distribution arrangements.
Effective Immediately After the Distribution Date. (A) the Huttig Savings and Profit Sharing Plan shall assume and be solely responsible for all Benefit Liabilities to or relating to Huttig Individuals under the Crane Savings Plan, and (B) Crane shall cause an amount equal to the aggregate account balances of the Huttig Individuals participating under the Crane Savings Plan, whether such amounts are vested or unvested under the terms of the Crane Savings Plan, which are held by the related trust as of the Close of the Distribution Date to be transferred to the Huttig Savings and Profit Sharing Plan, and its related trust, or such other qualified plan and trust designated by Huttig, and Huttig shall cause such transferred accounts to be accepted by such plan and trust. In Crane's sole and absolute discretion, the amount so transferred may be in cash or in kind or a combination thereof; provided, however, that the following shall be transferred in kind: (A) shares of Crane Common Stock and shares of Huttig Common Stock allocated to participants' accounts as a result of the Distribution; and (B) all promissory notes reflecting participant loans to Huttig Individuals under the Crane Savings Plan outstanding as of the Distribution Date.
Effective Immediately After the Distribution Date. (i) Leap shall honor, and shall cause each Leap Entity to honor, all terms and conditions of leaves of absence which have been granted to any Leap Individual and all other employees of Leap and the Leap Entities under the FMLA before the Close of the Distribution Date by QUALCOMM, Leap, or a Leap Entity, including such leaves that are to commence after the Distribution Date; (ii) Leap and each Leap Entity shall be solely responsible for administering compliance with the FMLA with respect to their employees; and (iii) Leap and each Leap Entity shall recognize all periods of service of Leap Individuals and all other employees of Leap and the Leap Entities with QUALCOMM or a QUALCOMM Entity, as applicable, to the extent such service is recognized by QUALCOMM for the purpose of eligibility for leave entitlement under the FMLA; provided, that no duplication of benefits shall be required by the foregoing.
Effective Immediately After the Distribution Date. If a Corporate-Owned Life Insurance Policy is so assigned to Spinco, Spinco shall assume and be solely responsible for all Benefit Liabilities, and shall be entitled to all benefits, thereunder, effective as of the earlier of (i) the Close of the Distribution Date and (ii) the date of such assignment. ATI and Spinco shall continue, liquidate and/or administer such Corporate-Owned Life Insurance Policies on terms and conditions agreed to by ATI and Spinco. ATI and Spinco shall share all information that may be necessary to identify the individuals insured by the Corporate-Owned Life Insurance Policies owned by ATI and/or Spinco and to determine when and whether such individuals are deceased.
Effective Immediately After the Distribution Date. If a Corporate-Owned Life Insurance Policy is so assigned to Spinco, Spinco shall assume and be solely responsible for all Benefit Liabilities, and shall be entitled to all benefits, thereunder, effective as of the earlier of (i) the Close of the Distribution Date and (ii) the date of such assignment. ATI and Spinco shall continue, liquidate and/or administer such Corporate-Owned