Common use of SpinCo Welfare Plans Clause in Contracts

SpinCo Welfare Plans. Without limiting the generality of Section 2.10, effective as of the Local Transfer Date or such other date as agreed to between Parent and SpinCo, which need not be the same for each Welfare Plan (such applicable date, the “Welfare Plan Date”), the SpinCo Group shall establish Welfare Plans (collectively, the “SpinCo Welfare Plans”) to provide welfare benefits to the SpinCo Employees (and their dependents and beneficiaries) in each applicable jurisdiction and, as of the applicable Welfare Plan Date, each SpinCo Employee (and his or her dependents and beneficiaries) shall cease active participation in the corresponding Parent Welfare Plan. For the avoidance of doubt, for purposes of this Article 7, the term “SpinCo Employee” shall be deemed to include each Former SpinCo Employee who was receiving welfare benefits in connection with his or her termination of employment from a member of the Parent Group or the SpinCo Group as of the applicable Welfare Plan Date.

SpinCo Welfare Plans. Without limiting the generality of Section 2.102.07, effective as of the Local Transfer Date Distribution or such other date as agreed to between Parent RemainCo and SpinCo, which need not be SpinCo in accordance with the same for each Welfare Plan Transition Services Agreement (such applicable date, the “Welfare Plan Date”), the SpinCo Group shall establish Welfare Plans (collectively, the “SpinCo Welfare Plans”) to provide welfare benefits to the SpinCo Employees (and their dependents and beneficiaries) in each applicable jurisdiction and, and as of the applicable Welfare Plan Date, each SpinCo Employee (and his or her dependents and beneficiaries) shall cease active participation in the corresponding Parent RemainCo Welfare Plan. For the avoidance of doubt, for purposes of this Article 7ARTICLE 6, the term “SpinCo EmployeeEmployees” shall be deemed to include each any Former SpinCo Employee who was receiving welfare benefits in connection with his or her termination of employment from a member of the Parent RemainCo Group or the SpinCo Group as of the applicable Welfare Plan Date.