Examples of NorthStar Realty Group in a sentence
For purposes of clarification and the avoidance of doubt, the Parties intend that such Liabilities assumed or retained by the NorthStar Realty Group include the retirement benefits and health and welfare plan benefits under the NorthStar Realty Plans for all NorthStar Realty Participants.
The Parties hereto agree that neither the Distribution nor any transfers of employment directly from the NorthStar Realty Group to the NSAM Group shall constitute a COBRA “qualifying event” for purposes of COBRA.
NSAM shall credit each NSAM Participant with the amount of accrued but unused vacation time, sick time and other time-off benefits as such NSAM Participant had with the NorthStar Realty Group as of the Distribution Date.
All indemnification payments under this Agreement shall be made by NorthStar Realty directly to NSAM and by NSAM directly to NorthStar Realty; provided, however, that if the Companies mutually agree with respect to any such indemnification payment, any member of the NorthStar Realty Group, on the one hand, may make such indemnification payment to any member of the NSAM Group, on the other hand, and vice versa.
If, at any time, NSAM or NorthStar Realty, respectively, acquires or creates one or more subsidiaries that are includable in the NSAM Group or the NorthStar Realty Group, respectively, they shall be subject to this Agreement and all references to the NSAM Group or NorthStar Realty Group, respectively, herein shall thereafter include a reference to such subsidiaries.
The Parties acknowledge and agree that the transactions contemplated by the Separation Agreement will not constitute a termination of employment of any NSAM Participant for purposes of any policy, plan, program or agreement of NorthStar Realty or any member of the NorthStar Realty Group that provides for the payment of severance, separation pay, salary continuation or similar benefits in the event of a termination of employment.
NSAM acknowledges and agrees that, except as otherwise provided herein, it shall have full responsibility with respect to any Liabilities and the payment or performance of any obligations arising out of or relating to any employment, consulting, non-competition, retention or other compensatory arrangement previously provided by any member of the NorthStar Realty Group or NSAM Group to any NSAM Participant.
No provision of this Agreement shall constitute a limitation on the rights to amend, modify or terminate any benefit plans, programs, policies, agreements or arrangements of any member of the NorthStar Realty Group or any member of the NSAM Group, and nothing herein shall be construed as an amendment to any such benefit plan, program, policy, agreement or arrangement.
NSAM shall be liable for, and shall indemnify and hold harmless the NorthStar Realty Group from and against any liability for, Taxes that are allocated to NSAM under this Article II.
NorthStar Realty acknowledges and agrees that, except as otherwise provided herein, it shall have full responsibility with respect to any Liabilities and the payment or performance of any obligations arising out of or relating to any employment, consulting, non-competition, retention or other compensatory arrangement previously provided by any member of the NorthStar Realty Group or NSAM Group to any NorthStar Realty Participant.