OPEB Liabilities definition

OPEB Liabilities means the Liabilities associated with obligations to provide active Business Employees as of the Closing Date and their dependents with retiree medical, life insurance and other post-employment benefits (excluding pension benefits), determined as of the Closing.

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OPEB Liabilities means any other post-employment benefit liabilities classified as such, and as determined, in accordance with GAAP under FASB ASC 712 as of immediately prior to the Closing, which includes but is not limited to jubilee benefits, seniority awards, FGTS penalty in Brazil and post-retirement medical and life benefits with respect to Business Employees.

OPEB Liabilities the obligations and liabilities with respect to non-pension post- employment benefits provided by Seller, acting directly or in the name of PGW or PFMC, including life insurance benefits and healthcare insurance benefits required to be provided by the OPEB Plan.

Examples of OPEB Liabilities in a sentence

BTC shall establish within the Trust a fund, or funds as applicable: One separate fund, or funds, as applicable (the “Trust Fund”), shall hold funds irrevocably designated for the payment of retiree health and welfare benefits or other similar OPEB Liabilities, including applicable fees and expenses, as reported and impacted by applicable legal requirements, including Governmental Accounting Standards Board Statement Nos.
For the avoidance of doubt, upon the transfer of the New DiscOp OPEB Plan to the Company or its Subsidiary, the New DiscOp OPEB Plan (including the DiscOp OPEB Liabilities) shall be an Assumed Plan and the Surviving Company shall indemnify, defend and hold harmless Vistra Energy and its Subsidiaries from and against any claim, action, suit, proceeding relating to any modification or termination of the post-retirement health and life benefits to any DiscOp OPEB Participants on or after the Closing Date.
For the avoidance of doubt, upon the transfer of the New DiscOp OPEB Plan to the Company or its Subsidiary, the New DiscOp OPEB Plan (including the DiscOp OPEB Liabilities) shall be an Assumed Plan and the Surviving Company shall indemnify, defend and hold harmless Reorganized TCEH and its Subsidiaries from and against any claim, action, suit, proceeding relating to any modification or termination of the post-retirement health and life benefits to any DiscOp OPEB Participants on or after the Closing Date.
If Seller’s Share of Underfunded/Overfunded Pension and OPEB Liabilities is greater than $0, the Initial Purchase Price shall be decreased by such amount, otherwise the Initial Purchase Price shall be increased by the absolute value of such amount, in each case, determined as of the Closing Date pursuant to Section 3.3(b).
Cytec agrees that it will comply with all applicable laws with respect to OPEB Liabilities including all federal and state laws such as the Employee Retirement Income Security Act of 1974 ("ERISA") and rules and regulations and pronouncements promulgated by state and federal regulatory agencies such as the federal Department of Labor, Internal Revenue Service and the Pension Benefit Guaranty Corporation.
If Seller’s Share of Underfunded/Overfunded Pension and OPEB Liabilities is greater than Zero Dollars ($0), the Initial Purchase Price shall be decreased by such amount, otherwise the Initial Purchase Price shall be increased by the absolute value of such amount, in each case, determined as of the Closing Date pursuant to Section 3.3(b).
Without limiting the generality of the foregoing, for matters covered by Section 3.2(e), the discount rate and other assumptions used to determine Pension and OPEB Liabilities as reflected in the Post-Closing Statement shall be selected using the same methodology historically used for selecting the discount rate and assumptions for Pinnacle West Capital Corporation’s consolidated fiscal year-end calculations reported in its audited financial statements.
Seller shall cause Pinnacle West to enter into a letter agreement (the “Side Letter”) with Purchaser, in form reasonably satisfactory to Pinnacle West and Purchaser, to the effect that if, at the end of life of the Plant, Pinnacle West determines that the Pension and OPEB Liabilities allocable to the Facilities are underfunded, then Pinnacle West shall pay and indemnify Purchaser for its share thereof attributable to the EPE Interest.
In calculating the adjustment contemplated by this Section 3.2(c), the discount rate and other assumptions used to determine Pension and OPEB Liabilities shall be selected using the same methodology historically used for selecting the discount rate and assumptions for Pinnacle West Capital Corporation’s consolidated fiscal year-end calculations reported in its audited financial statements.

More Definitions of OPEB Liabilities

OPEB Liabilities means all post-employment benefits related to any (a) active Employees and Danskammer employees who have provided notice of retirement to be effective prior to January 1, 2013, (b) retired employees of the Seller or its Affiliates whose employment was related to the maintenance and operation of the Acquired Assets and (c) retired Danskammer employees, in each case of (a), (b) and (c) including those individuals listed on Schedule A-2. For the avoidance of doubt, OPEB Liabilities do not include pension benefits arising out of the Dynegy Northeast Generation, Inc. Pension Plan.

OPEB Liabilities means any other post-employment benefit liabilities classified as such, and as determined, in accordance with GAAP under FASB ASC 712 as of immediately prior to the Closing Effective Time, which includes but is not limited to jubilee benefits, seniority awards, FGTS penalty in Brazil and post-retirement medical and life benefits with respect to Business Employees.

OPEB Liabilities shall include any and all Liabilities arising out of any proposed or actual change by Cytec in the Post-Retirement Benefits to which Transferred Retirees or Transferred Employees are eligible, which Liabilities shall in no event be deemed to arise out of the fault or neglect of ACY for purposes of Section 2.1 below."

OPEB Liabilities means the Liabilities associated with obligations to provide current and former Business Employees and their dependents with post- employment health and welfare benefits.