Division of Liabilities. Effective on the Distribution Date, Choice shall assume, as to the Choice Employees, and Manor Care shall retain, as to the Retained Employees, all accrued liabilities (whether vested or unvested, and whether funded or unfunded) for vacation leave and sick leave in respect of employees of Manor Care as of the Cut-off Date. Choice shall be solely responsible for the payment of such vacation leave and sick leave to Choice Employees after the Cutoff Date, and Manor Care shall be solely responsible for the payment of such vacation leave and sick leave to Retained Employees after the Cut-off Date. Each party shall provide to its own Employees on the Distribution Date the same vested and unvested balances of vacation leave and sick leave as credited to such Employee on the Manor Care payroll system on the Cut-off Date, and shall continue to accrue vacation leave and sick leave in respect of each such Employee from the Distribution Date at the same rate of accrual as accrued in respect of such individual by Manor Care on the Cut-off Date.
Division of Liabilities. If the RRC is to be wound up and there remains any liability or debt in excess of the realised property and assets of the RRC then the liability or debt is to be met by each of the Participants in the proportions set out in Schedule 4.
Division of Liabilities. Effective on the Distribution Date, (i) Company shall retain and shall be responsible for all accrued liabilities (whether vested or unvested, and whether funded or unfunded) for vacation and sick leave in respect of all Company Individuals as of the Distribution Date, and (ii) Lakes shall assume and shall be responsible for all accrued liabilities (whether vested or unvested, and whether funded or unfunded) for vacation and sick leave in respect of all Lakes Individuals as of the Distribution Date. From and after the Distribution Date, (x) Company shall be solely responsible for the payment to Company Individuals of vacation or sick leave accrued after the Distribution Date and (y) Lakes shall be solely responsible for the payment to Lakes Individuals of vacation or sick leave accrued after the Distribution Date.
Division of Liabilities. Effective on the Distribution Date, (i) Hilton shall retain and shall be responsible for all accrued liabilities (whether vested or unvested, and whether funded or unfunded) for vacation and sick leave in respect of all Hilton Individuals as of the Distribution Date and (ii) Park Place shall assume and shall be responsible for all accrued liabilities (whether vested or unvested, and whether funded or unfunded) for vacation and sick leave in respect of all Park Place Individuals as of the Distribution Date. From and after the Distribution Date, (x) Hilton shall be solely responsible for the payment to Hilton Individuals of vacation or sick leave accrued after the Distribution Date and (y) Park Place shall be solely responsible for the payment to Park Place Individuals of vacation or sick leave accrued after the Distribution Date.
Division of Liabilities. Effective as of the Contribution Date, HMC shall transfer to HMLP all accrued liabilities (whether vested or unvested and whether funded or unfunded) for paid time leave, if any, for Retained Employees and Retained Individuals. After the Contribution Date, HMLP shall be solely responsible for the payment of such paid time leave to Retained Employees and Retained Individuals. Effective as of the Distribution Date, HMC shall transfer to Crestline all accrued liabilities (whether vested or unvested and whether funded or unfunded) for paid time leave, if any, for Crestline Employees. After the Distribution Date, Crestline shall be responsible for the payment of such paid time leave to Crestline Employees. HMLP (in the case of Retained Employees) and Crestline (in the case of Crestline Employees) shall provide the individuals covered by this Section 2.7.1 with the same vested and unvested balances of paid time leave as was credited to such individuals by HMC on the Contribution Date (in the case of Retained Employees) and the Distribution Date (in the case of Crestline Employees). Nothing in this Section 2.7.1 shall be construed in any way to limit the right of either HMLP or Crestline to change its vacation or sick leave policies as it deems appropriate.
Division of Liabilities. Effective on the Distribution Date, PriceSmart shall assume all accrued liabilities (whether vested or unvested, and whether funded or unfunded) for vacation and sick leave in respect of all Employees as of the Distribution Date. PriceSmart shall be solely responsible for the payment to PriceSmart Employees of vacation or sick leave accrued after the Distribution Date, and PEI shall be solely responsible for the payment to Retained Employees of vacation or sick leave accrued after the Distribution Date.
Division of Liabilities. If the MRC is to be wound up and there remains any liability or debt in excess of the realised property and assets of the MRC then the liability or debt is to be met by each of the Participants in the proportions set out in Schedule 3.
Division of Liabilities. If a Project is to be wound up and there remains any liability or debt in excess of the realised property and assets of the Project, then the liability or debt is to be met by the Project Participants in the proportions referred to in the Business Case.
Division of Liabilities. If WE-ROC is to be wound up and there remains any liability or debt in excess of the realised property and assets of WE-ROC then the liability or debt is to be met by each of the Participants in the same proportions as the contributions of a particular Participant to the assets of WE-ROC bear to the total of such contributions by all Participants.
Division of Liabilities. 2.4 Any obligation or liability that is not listed herein shall be the responsibility of the party that incurred the same, and the party that incurred the same shall indemnify the other party and the property of the other party harmless from liability therefor.
