Purchaser FSA definition
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.
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).
All such Eligible Investments shall be held for the benefit of the Purchaser, FSA and the Seller.
Purchaser shall assume and be solely responsible for all claims for reimbursement by Transferred Employees following the Closing Date, whether incurred prior to, on or after the Closing Date, that have not been paid in full as of the Closing Date, which claims shall be paid pursuant to and under the terms of the Purchaser FSA Plans.
As soon as practicable following the Closing, Sellers or their respective Affiliates shall cause to be transferred from the Seller FSA Plans to the Purchaser FSA Plans the excess, if any, of the aggregate accumulated contributions to the flexible spending reimbursement accounts made by Business Employees prior to the Closing during the year in which the Closing occurs over the aggregate reimbursement payouts paid or payable to the Business Employees for such year from such accounts.
As of the Employee Lease Termination Date, NTUS or its Affiliate shall cause the balances of each Continuing Employee's accounts under the Purchaser FSA to be equal to the Continuing Employee's balances in the applicable accounts under the Seller FSA.
To the extent that the Negative Balances exceed the amount paid to Seller Parties pursuant to the preceding sentence, Purchaser shall pay Seller Parties any such shortfall from year 2000 forfeitures under Purchaser FSA (to the extent such forfeitures are not used to offset negative account balances under Purchaser FSA).
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.
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.