Common use of TERMS OF PARTICIPATION BY Clause in Contracts

TERMS OF PARTICIPATION BY. WATER PIK INDIVIDUALS IN WATER PIK PLANS. The Water Pik Plans shall be, with respect to Water Pik Individuals, in all respects the successors in interest to, and shall not provide benefits that duplicate benefits provided by, the corresponding ATI Plans. ATI and Water Pik shall agree on methods and procedures, including amending the respective Plan documents and/or requesting approvals or consents of Water Pik Individuals where the parties deem appropriate, to prevent Water Pik Individuals from receiving duplicative benefits from the ATI Plans and the Water Pik Plans. With respect to Water Pik Individuals, each Water Pik Plan shall provide that all service, all compensation and all other benefit-affecting determinations that, as of the Close of the Distribution Date, were recognized under the corresponding ATI Plan shall, as of Immediately After the Distribution Date, receive full recognition, credit, and validity and be taken into account under such Water Pik Plan to the same extent as if such items occurred under such Water Pik Plan, except to the extent that duplication of benefits would result. The provisions of this Agreement for the transfer of assets from certain trusts relating to ATI Plans (including Foreign Plans) to the corresponding trusts relating to Water Pik Plans (including Foreign Plans) are based upon the understanding of the parties that each such Water Pik Plan will assume all Benefit Liabilities of the corresponding ATI