Pre-Existing Limitations; Deductibles; Service Credit Sample Clauses

Pre-Existing Limitations; Deductibles; Service Credit. If a person who was an employee of ACCO or its Subsidiaries as of the Effective Time becomes eligible to participate in an employee benefit plan of GBC or its Subsidiaries after the Effective Time, or if a person who was an employee of GBC or its Subsidiaries as of the Effective Time becomes eligible to participate in an employee benefit plan of ACCO or its Subsidiaries after the Effective Time, ACCO and GBC shall: (A) waive all pre-existing conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to such employees and their eligible dependents, except to the extent that such pre-existing conditions, exclusions or waiting periods would apply under the analogous respective ACCO Plan or GBC Plan, as the case may be; (B) provide each ACCO employee and GBC employee and their eligible dependents with credit for any flexible spending credits or debits, co-payments and deductibles paid under the respective ACCO Plan or GBC Plan in which the employee had participated in satisfying any applicable deductible or out-of-pocket requirements under any plans in which such employee may be eligible to participate; and (C) recognize all service of such employees with ACCO and GBC and their respective affiliates, for purposes of eligibility to participate and entitlement to benefits and, other than with respect to defined benefit pension plans, vesting and benefit accrual, in any such plans; provided that the foregoing shall not apply to the extent it would result in duplication of benefits.

Pre-Existing Limitations; Deductibles; Service Credit. With respect to any employee benefit plans (within the meaning of Section 5.03(1)(i)) of Nortel ("Nortel Plans"), Nortel shall, or shall cause the Surviving Corporation to: (A) with respect to any medical or health plan, waive any pre-existing condition or exclusion in any Nortel Plans in which any Bay Employee may be entitled to participate that would result in a lack of coverage for any condition for which a Bay Employee would have been entitled to coverage under the corresponding Plan; (B) with respect to any medical or health plan, waive any waiting period in any Nortel Plans in which any Bay Employee may be entitled to participate that exceeds the corresponding waiting period under the corresponding Plan (after taking into account the service credit provided for herein for purposes of satisfying such waiting period); (C) provide each Bay Employee with credit for any co- payments and deductibles paid prior to the Effective Time (to the same extent such credit was given under the analogous Plan prior to the Effective Time) in satisfying any applicable deductible or out-of-pocket requirements under any Nortel Plans in which such employees may be eligible to participate after the Effective Time, and (D) recognize all service of the Bay Employees with Bay or any of its Subsidiaries for purposes of eligibility to participate, vesting credit, entitlement to benefits, and, solely with respect to vacation and severance benefits, benefit accrual in any Nortel Plan in which the Bay Employees may be eligible to participate after the Effective Time; provided that the foregoing shall not apply to the extent it would result in duplication of benefits. Nothing in this paragraph shall be interpreted to require Nortel to provide for the participation of any Bay Employee in any Nortel Plan.