FSA Transfer definition

FSA Transfer means the transfer by the Borrower to Parent and/or Fund American Enterprises, Inc. of the Borrower's equity interest in Financial Security Assurance Holdings Ltd., provided that the aggregate dollar amount of -------- the fair market value of the equity interests so transferred shall not exceed $25,000,000.

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FSA Transfer has the meaning specified in Section 5.6.

FSA Transfer means the transfer by White Mountains Holdings, Inc. to the Borrower and/or the Subsidiary Borrower of White Mountains Holdings, Inc.'s equity interest in Financial Security Assurance Holdings Ltd., provided that the -------- aggregate dollar amount of the fair market value of the equity interests so transferred shall not exceed $25,000,000.

Examples of FSA Transfer in a sentence

At all times after the date hereof, maintain ----------------- a minimum Net Worth at least equal to the sum of (a) $190,676,640, minus (b) an ----- amount equal to the aggregate reduction in Net Worth attributable to the FSA Transfer, plus (c) an amount equal to 85% of the cash and non-cash proceeds of any equity securities issued by the Borrower after September 30, 1996.
At all times after the date hereof, ----------------- maintain a minimum Net Worth at least equal to the sum of (a) $190,676,640, minus (b) an amount equal to the aggregate reduction in Net Worth attributable to the FSA Transfer, plus (c) an amount equal to 85% of the cash and non-cash proceeds of any equity securities issued by Parent after September 30, 1996.
Each Affected Employee under the Flex Plan as of the Closing Date shall be eligible to participate in the Newco Plan on the first day following the date of the FSA Transfer.
The balance of each flexible spending account of each Affected Employee immediately after the FSA Transfer shall be equal to the balance of such account immediately before the FSA Transfer.
The parties agree that Seller shall be solely responsible for (A) the administration of the flexible spending account of each Affected Employee under the Flex Plan before the occurrence of the FSA Transfer and (B) any expense, fee, fine, claim, or any other liability related to the administration or maintenance of 18 the flexible spending accounts of each Affected Employee assessed, incurred or accrued prior to the FSA Transfer.
As soon as administratively feasible after the Closing Date, Seller shall take any actions necessary to transfer (or cause to be transferred) the written election and the account balance , if any, of each Affected Employee under the Flex Plan to the Newco Plan (the "FSA Transfer").
The parties agree that Purchaser shall be solely responsible for (x) the administration of the flexible spending account of each Affected Employee after the occurrence of the FSA Transfer and (y) any expense, fee, fine, claim or any other liability related to the administration or maintenance of the flexible spending accounts of each Affected Employee assessed, incurred or accrued after the FSA Transfer.
Notwithstanding the above, the Seller shall be solely responsible for any expense, fee, fine, claim, or any other liability related to the administration or maintenance of the flexible spending accounts of each Affected Employee assessed, incurred or accrued as a result of the FSA Transfer.

More Definitions of FSA Transfer

FSA Transfer has the meaning set forth in Section 7.02(d).

FSA Transfer means (i) the election of a Continuing Employee in effect under the applicable Parent FSA Plans by the Company or an Affiliate of the Company immediately prior to the New Plans Commencement Date, (ii) the assumption by the Company or an Affiliate of the Company of responsibility for administering and paying under the applicable plans of the Company or one of its Affiliates all eligible reimbursement claims of such Continuing Employee incurred in the calendar year in which the New Plans Commencement Date occurs that are submitted for payment on or after such New Plans Commencement Date, whether such claims arise before, on or after such New Plans Commencement Date, and (iii) as soon as practicable following the New Plans Commencement Date, transfer by Parent (or an Affiliate of Parent) to the Company in connection with the actions taken pursuant to clauses (i) and (ii) of an amount in cash equal to (A) the sum of all contributions to the applicable Parent FSA Plans made with respect to the calendar year in which such Employment Commencement Date occurs by or on behalf of such Continuing Employee prior to the New Plans Commencement Date, reduced by (B) the sum of all claims incurred by such Continuing Employee under the applicable Parent FSA Plans in the calendar year in which the New Plans Commencement Date occurs that are submitted for payment prior to such New Plans Commencement Date; provided, however, that if the amount described in subclause (B) exceeds the amount described in clause (A), the Company shall reimburse Parent for such difference.