M&A Qualified Beneficiaries definition

M&A Qualified Beneficiaries has the meaning set forth in Section 6.1 below.

M&A Qualified Beneficiaries means each individual who is a “qualified beneficiary” whose “qualifying event” occurred prior to or in connection with the sale of the Assets and whose qualifying event occurred in connection with a covered employee whose last employment prior to the qualifying event was associated with the Assets being sold.

M&A Qualified Beneficiaries shall have the meaning set forth in Section 4.08(d).

Examples of M&A Qualified Beneficiaries in a sentence

• If Buyer determines that it or any of its Affiliates is obligated to provide continuation coverage under COBRA to the M&A Qualified Beneficiaries, the Members shall, on a joint and several basis, reimburse Buyer and its Affiliates for any and all costs, expenses, and Liabilities that Buyer and its Affiliates incur in providing such coverage to the M&A Qualified Beneficiaries, which, for the avoidance of doubt, shall constitute Excluded Liabilities hereunder.

• Purchaser agrees it will be solely responsible for providing COBRA continuation coverage to all M&A Qualified Beneficiaries (as defined in Treas.

• As of the Closing Date, the Purchaser or an ERISA Affiliate thereof will offer continuation coverage for the duration of the coverage period required under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), as set forth in Section 4980B(f)(2)(B) of the Tax Code (and the regulations thereunder), under the health care plans covering the Continuing Employees after the Closing to the M&A Qualified Beneficiaries (as defined below).

• In no event shall August assume any liability for providing COBRA continuation coverage to such M&A Qualified Beneficiaries.

• To the extent required under Section 4980B of the Code and the Treasury Regulations promulgated thereunder, Sub shall provide COBRA coverage to CART's M&A Qualified Beneficiaries (within the meaning of Section 4980B of the Code and the Treasury Regulations promulgated thereunder).

More Definitions of M&A Qualified Beneficiaries

M&A Qualified Beneficiaries means those individuals who are “M&A qualified beneficiaries” for purposes of COBRA under Section 4980B of the IRC and the regulations thereunder with respect to the transactions contemplated by this Agreement.

M&A Qualified Beneficiaries shall have the meaning set forth in Section 8.16(b).

M&A Qualified Beneficiaries shall have the meaning set forth in U.S. Treasury Regulation Section 54.4980B-9, Q&A-4(a).

M&A Qualified Beneficiaries is defined in Section 7.1(c)(ii).

M&A Qualified Beneficiaries means each individual who is a “qualified beneficiary” whose “qualifying event” occurred prior to or in connection with the sale of the Purchased Assets and who is, or whose qualifying event occurred in connection with, a covered employee whose last employment prior to the qualifying event was associated with the Purchased Assets being sold. (The terms within quotes are as defined in COBRA and its related regulations). On the Closing Date, all Business Employees hired by Purchasers shall become employees of Purchasers and not of Sellers. (c) Purchasers shall cooperate with Sellers in making any notices required by the WARN Act or other applicable federal or state laws, if applicable. 7.14

M&A Qualified Beneficiaries has the meaning given to such term in Section 7.2(h).

M&A Qualified Beneficiaries means such term as defined in Treas. Reg. § 54.4980B-9(Q&A 4).