Examples of Transition Termination in a sentence
All waiting periods and pre-existing condition clauses shall be waived under the Zimmer Health and Welfare Plans for Active Zimmer Employees and their eligible dependents who were participating in the Xxxxxxx-Xxxxx Squibb Health and Welfare Plans before the Distribution Date or the Transition Termination Date, as applicable.
Except as otherwise agreed by Xxxxxxx-Xxxxx Squibb and Zimmer, Xxxxxxx-Xxxxx Squibb shall administer claims incurred under the Transition Health and Welfare Plans by Active Zimmer Employees which are submitted to Xxxxxxx-Xxxxx Squibb before the first anniversary of the Transition Termination Date and any determinations made or settlements entered into by Xxxxxxx-Xxxxx Squibb with respect to such claims shall be final and binding.
Effective as of the Transition Termination Date or such earlier date as Xxxxxxx-Xxxxx Squibb and Zimmer may mutually agree, Zimmer shall provide a Zimmer adoption assistance program to Active Zimmer Employees which is substantially similar in all material respects to the Xxxxxxx-Xxxxx Squibb Company Adoption Assistance Program.
Unless otherwise agreed to by the parties hereto, the Company shall not be required to issue and cede Transition GBO Policies in any amount in any jurisdiction after the Transition Termination Date for that jurisdiction; except with respect to any renewal or conversion policies issued by the Company as required by law after the Transition Termination Date arising directly or indirectly with respect to any Coinsured Policy previously reinsured under this Coinsurance Agreement.
Effective as of the Transition Termination Date or such other date as Xxxxxxx-Xxxxx Squibb and Zimmer may mutually agree, the Xxxxxxx-Xxxxx Squibb Company Adoption Assistance Program shall cease to provide reimbursement to any Active Zimmer Employees and any and all outstanding approved reimbursements shall be made by Zimmer.
Effective as of the Transition Termination Date or such earlier date as Xxxxxxx-Xxxxx Squibb and Zimmer may mutually agree, Zimmer shall provide a Zimmer educational assistance program to Active Zimmer Employees which is substantially similar in all material respects to the Xxxxxxx-Xxxxx Squibb Company Educational Assistance Tuition Aid Program.
In addition, any renewal or converted policies issued by the Company as required by law after the applicable Transition Termination Date arising directly or indirectly with respect to any policy previously reinsured under this Coinsurance Agreement shall constitute Transition GBO Policies and automatically and immediately be ceded under this Coinsurance Agreement.
In the event of a Covered Termination that is a Qualifying Transition Termination, the lump-sum cash amount payable under the Plan shall be the amount Executive would have been paid under the Plan if he had Retired from Service on November 30, 2022 and had an Income Payment Date of December 1, 2022 (the “Benefit Amount”), which amount shall not be subject to increase or decrease except as provided in Section 3.03.
From the Effective Date through the Transition Termination Date, GECM shall use commercially reasonable efforts to assist MCM in connection with it entering into new agreements with any information system, trading platform or similar service vendors of GECM, on terms as close as are reasonably obtainable to the existing terms of such contracts taking into account that MCM will be the sole party to such new agreements.
In no event shall the Company be required to underwrite or issue new policies, endorsements, riders, certificates and other contracts of insurance or annuity contracts after the Transition Termination Date.