Examples of Purchaser FSA in a sentence
All information heretofore or hereafter furnished by or on behalf of the Seller to the Purchaser, FSA or the Administrative Agent in connection with this Agreement or the Related Documents, or any transaction contemplated hereby or thereby, is and will be true and complete in all material respects and does not and will not omit to state a material fact necessary to make the statements contained therein not misleading.
As of the Employee Lease Termination Date, NTUS shall assume and be solely responsible for all claims for reimbursement by Continuing Employees, whether incurred prior to, on, or after the Employee Lease Termination Date, that have not been paid in full as of the Employee Lease Termination Date, which claims shall be paid pursuant to and under the terms of the Purchaser FSA.
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Notwithstanding the foregoing, the Company and Purchaser Sub agree to make reasonable adjustments to the terms of this Section 6.14(e) as necessary to account for the difference in plan year end dates of the Company FSA and Purchaser FSA.
The salary reduction election of an FSA Participant under the Company FSA will be continued by the Purchaser FSA for the remainder of the Purchaser FSA plan year following an Employment Start Date (subject to limitations under applicable Law).
Following the Transfer Date, each Transferred Employee will be reimbursed by Purchaser under the Purchaser FSA Plan for qualifying medical and dependent care expenses incurred by such Transferred Employee at any time during 2012 (including claims incurred before the Transfer Date), up to the amount of the elections made by each Transferred Employee under the Seller FSA Plan for 2012, reduced by amounts previously reimbursed by Seller or its Affiliates pursuant to the Seller FSA Plan in 2012.
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NTUS shall, or shall cause its applicable Affiliate to, cause the Purchaser FSA to honor, and continue through the end of the FSA Year, the elections made by Continuing Employees under the Seller FSA with respect to the flexible spending reimbursement accounts that are in effect immediately prior to the Employee Lease Termination Date.
Each Transferred Employee shall be treated as if his or her participation in Purchaser FSA had been continuous from the beginning of the plan year under the comparable Employee Benefit Plan in which the Closing occurs and each existing salary reduction election shall be taken into account for the remainder of the plan year under Purchaser FSA in which the Closing occurs, as if made under Purchaser FSA.
As soon as practicable following the Closing Date, the Seller shall cause to be transferred from the Seller FSA Plan to the Purchaser FSA Plan the excess, if any, of the aggregate accumulated contributions to the flexible spending reimbursement accounts made by Transferred Employees prior to the Closing during the year in which the Closing occurs over the aggregate reimbursement payouts paid or payable to the Transferred Employees for such year from such accounts.