Liabilities definition
Examples of Liabilities in a sentence
In the case of any investigation, litigation or proceeding giving rise to any Indemnified Liabilities, this Section 9.07 applies whether any such investigation, litigation or proceeding is brought by any Lender or any other Person.
Effective as of the Distribution Date or such other date as agreed to between RemainCo and SpinCo which may be prior to the Distribution Date, all SpinCo Employees receiving long- and short-term disability benefits under the RemainCo Disability Plans who are eligible to participate in the SpinCo Disability Plans shall become participants in the SpinCo Disability Plans and RemainCo shall have no outstanding Liabilities under the RemainCo Disability Plans with respect to such SpinCo Employees.
In the event that a SpinCo Employee becomes eligible to receive continuation health coverage pursuant to COBRA following the applicable Welfare Plan Date, SpinCo and the SpinCo Welfare Plans shall be responsible for provision of COBRA coverage and all COBRA-related Liabilities to such SpinCo Employee (or his or her eligible dependents) in respect of COBRA.
Such actions may include, for example, permitting a SpinCo Employee to continue to make scheduled loan TABLE OF CONTENTS payments to the RemainCo 401(k) Plan after the Distribution, but before the RemainCo 401(k) Plan Assets and Liabilities are transferred to the SpinCo 401(k) Plan, and adopting administrative procedures to facilitate such loan payments.
All Liabilities and Assets assumed or retained by a member of the SpinCo Group under this Agreement shall be SpinCo Liabilities or SpinCo Assets, respectively, for purposes of the Separation Agreement.