Common use of Plan Participation Clause in Contracts

Plan Participation. Except as otherwise expressly provided in this Agreement, effective as of immediately prior to the applicable Benefits Commencement Date, (a) (i) all Lithium Participants shall cease any participation in, and benefit accrual under, Parent Plans and (ii) all members of the Lithium Group shall cease to be participating employers under the Parent Plans and, (b) to the extent applicable, (i) all Parent Participants shall cease any participation in, and benefit accrual under, Lithium Plans and (ii) all members of the Parent Group shall cease to be participating employers under the Lithium Plans. Prior to the Separation Date, Parent and the Company shall take all actions necessary to effectuate the actions contemplated by this ‎Section 4.01 and to cause (A) the applicable Lithium Group member to assume or retain all Liabilities with respect to each Lithium Plan and the applicable Parent Group member to assume or retain all Liabilities with respect to each Parent Plan, in each case, effective as of the Separation Effective Time and (B) all Assets of any Lithium Plan to be transferred to or retained by the applicable Lithium Group member in the applicable jurisdiction and all Assets of any Parent Plan to be transferred to or retained by the applicable Parent Group member in the applicable jurisdiction, in each case, effective as of the Separation Effective Time.

Plan Participation. Except as otherwise expressly provided in this Agreement, effective as of immediately prior to the applicable Benefits Commencement Date, (a) (i) all Lithium Participants shall cease any participation in, and benefit accrual under, Parent Plans and (ii) all members of the Lithium Group shall cease to be participating employers under the Parent Plans and, (b) to the extent applicable, (i) all Parent Participants shall cease any participation in, and benefit accrual under, Lithium Plans and (ii) all members of the Parent Group shall cease to be participating employers under the Lithium Plans. Prior to the Separation Date, Parent and the Company shall take all actions necessary to effectuate the actions contemplated by this ‎Section Section 4.01 and to cause (A) the applicable Lithium Group member to assume or retain all Liabilities with respect to each Lithium Plan and the applicable Parent Group member to assume or retain all Liabilities with respect to each Parent Plan, in each case, effective as of the Separation Effective Time and (B) all Assets of any Lithium Plan to be transferred to or retained by the applicable Lithium Group member in the applicable jurisdiction and all Assets of any Parent Plan to be transferred to or retained by the applicable Parent Group member in the applicable jurisdiction, in each case, effective as of the Separation Effective Time. Section 4.02.

Plan Participation. Except as otherwise expressly provided in this Agreement, effective as of immediately prior to the applicable Benefits Commencement Date, (a) (i) all Lithium Participants shall cease any participation in, and benefit accrual under, Parent Plans and (iii) all members of the Lithium Group shall cease to be participating employers under the Parent Plans and, (ba) to the extent applicable, (i) all Parent Participants shall cease any participation in, and benefit accrual under, Lithium Plans and (iii) all members of the Parent Group shall cease to be participating employers under the Lithium Plans. Prior to the Separation Date, Parent and the Company shall take all actions necessary to effectuate the actions contemplated by this ‎Section 4.01 and to cause (A) the applicable Lithium Group member to assume or retain all Liabilities with respect to each Lithium Plan and the applicable Parent Group member to assume or retain all Liabilities with respect to each Parent Plan, in each case, effective as of the Separation Effective Time and (BA) all Assets of any Lithium Plan to be transferred to or retained by the applicable Lithium Group member in the applicable jurisdiction and all Assets of any Parent Plan to be transferred to or retained by the applicable Parent Group member in the applicable jurisdiction, in each case, effective as of the Separation Effective Time.

Plan Participation. Except as otherwise expressly provided in this Agreement, effective as of immediately prior to the applicable Benefits Commencement Date, (a) (i) all Lithium Baudax Participants shall cease any participation in, and benefit accrual under, Parent Recro Plans and (ii) all members of the Lithium Baudax Group shall cease to be participating employers under the Parent Recro Plans and, (b) to the extent applicable, (i) all Parent Recro Participants shall cease any participation in, and benefit accrual under, Lithium Baudax Plans and (ii) all members of the Parent Recro Group shall cease to be participating employers under the Lithium Baudax Plans. Prior to the Separation DateTransfer Effective Time, Parent Recro and the Company Baudax shall take all actions necessary to effectuate the actions contemplated by this ‎Section 4.01 Section 2.3 and to cause (A) the applicable Lithium Baudax Group member to assume or retain all Liabilities with respect to each Lithium Baudax Plan and the applicable Parent Recro Group member to assume or retain all Liabilities with respect to each Parent Recro Plan, in each case, effective as of the Separation Transfer Effective Time and (B) all Assets assets of any Lithium Baudax Plan to be transferred to or retained by the applicable Lithium Baudax Group member in the applicable jurisdiction and all Assets assets of any Parent Recro Plan to be transferred to or retained by the applicable Parent Recro Group member in the applicable jurisdiction, in each case, effective as of the Separation Transfer Effective Time.

Plan Participation. Except as otherwise expressly provided in this Agreement, effective as of immediately prior to the applicable Benefits Commencement Date, (a) (i) all Lithium Baudax Participants shall cease any participation in, and benefit accrual under, Parent Recro Plans and (ii) all members of the Lithium Baudax Group shall cease to be participating employers under the Parent Recro Plans and, (b) to the extent applicable, (i) all Parent Recro Participants shall cease any participation in, and benefit accrual under, Lithium Baudax Plans and (ii) all members of the Parent Recro Group shall cease to be participating employers under the Lithium Baudax Plans. Prior to the Separation DateDistribution Effective Time, Parent Recro and the Company Baudax shall take all actions necessary to effectuate the actions contemplated by this ‎Section 4.01 Section 2.3 and to cause (A) the applicable Lithium Baudax Group member to assume or retain all Liabilities with respect to each Lithium Baudax Plan and the applicable Parent Recro Group member to assume or retain all Liabilities with respect to each Parent Recro Plan, in each case, effective as of the Separation Distribution Effective Time and (B) all Assets assets of any Lithium Baudax Plan to be transferred to or retained by the applicable Lithium Baudax Group member in the applicable jurisdiction and all Assets assets of any Parent Recro Plan to be transferred to or retained by the applicable Parent Recro Group member in the applicable jurisdiction, in each case, effective as of the Separation Distribution Effective Time.

Plan Participation. Except as otherwise expressly provided in this Agreement, effective as of immediately prior to the applicable Benefits Commencement Date, (a) (i) all Lithium Participants shall cease any participation in, and benefit accrual under, Parent Plans and (ii) all members of the Lithium Group shall cease to be participating employers under the Parent Plans and, (b) to the extent applicable, (i) all Parent Participants shall cease any participation in, and benefit accrual under, Lithium Plans and (ii) all members of the Parent Group shall cease to be participating employers under the Lithium Plans. Prior to the Separation Date, Parent and the Company shall take all actions necessary to effectuate the actions contemplated by this ‎Section Section 4.01 and to cause (A) the applicable Lithium Group member to assume or retain all Liabilities with respect to each Lithium Plan and the applicable Parent Group member to assume or retain all Liabilities with respect to each Parent Plan, in each case, effective as of the Separation Effective Time and (B) all Assets of any Lithium Plan to be transferred to or retained by the applicable Lithium Group member in the applicable jurisdiction and all Assets of any Parent Plan to be transferred to or retained by the applicable Parent Group member in the applicable jurisdiction, in each case, effective as of the Separation Effective Time.