Pre-Existing Limitations; Service Credit. With respect to any employee benefit plan in which any employees of Company or its Subsidiaries first become eligible to participate, on or after the Effective Time (the “New Company Plans”), Purchaser shall: (A) waive all pre-existing conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to employees of Company or its Subsidiaries under any health and welfare New Company Plans in which such employees may be eligible to participate after the Effective Time, and deductibles, coinsurance or maximum out-of-pocket payments made by such employees during the applicable plan year in which such employee first participates in the applicable New Company Plan occurs shall reduce the amount of deductibles, coinsurance and maximum out-of-pocket payments under the New Company Plans; provided that, for purposes of deductibles, coinsurance and out-of-pocket payments, such employee was enrolled in comparable coverage under the Company Plans immediately prior to the effective time of coverage in the New Company Plans, and (B) recognize service of present or former employees of Company or its Subsidiaries (or otherwise credited by Company or its Subsidiaries) accrued prior to the Effective Time for purposes of eligibility to participate and vesting credit, and, solely with respect to severance pay obligations, benefit accrual, in any New Company Plan in which such employees may be eligible to participate after the Effective Time; provided, however, that in no event shall any credit be given to the extent it would result in the duplication of benefits for the same period of service.
Pre-Existing Limitations; Service Credit. With respect to any Benefit Plans in which any employees of Cigna or its Subsidiaries first become eligible to participate, on or after the Effective Time (the “New Cigna Plans”), Anthem shall use commercially reasonable efforts to: (A) waive all pre-existing conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to employees of Cigna or its Subsidiaries under any health and welfare New Cigna Plans in which such employees may be eligible to participate after the Effective Time, and deductibles, coinsurance or maximum out-of-pocket payments made by such employees during the applicable plan year in which such employee first participates in the applicable New Cigna Plan shall reduce the amount of deductibles, coinsurance and maximum out-of-pocket payments under the New Cigna Plans; provided that, for purposes of deductibles, coinsurance and out-of-pocket payments, such employee was enrolled under the Benefit Plans of Cigna immediately prior to the effective time of coverage in the New Cigna Plans, and (B) recognize service of present or former employees of Cigna or its Subsidiaries (or otherwise credited by Cigna or its Subsidiaries) accrued prior to the Effective Time for purposes of eligibility to participate and vesting credit (and levels of benefits, but not for benefit accrual purposes) in any New Cigna Plan in which such employees may be eligible to participate after the Effective Time, to the extent such service would have been taken into account under the applicable Cigna Benefit Plans; provided, however, that in no event shall any credit be given to the extent it would result in the duplication of benefits for the same period of service.
Pre-Existing Limitations; Service Credit. With respect to any Employee Benefit Plans of Buyer or its Affiliates in which the Company Employees participate after the Closing, Buyer shall, or shall cause the Company or such Affiliates to recognize all regular employee service of the Company Employees with the Company and its current and former Affiliates for purposes of eligibility to participate, vesting, form of payment and calculation of the rate of benefits (if applicable) relating to service after the Closing, but not (A) to the extent such recognition would result in duplication of benefits or (B) for purposes of benefit accrual under any defined benefit pension plan or equity plan, and only to the same extent such service would be taken into account under a comparable Employee Benefit Plan immediately prior to the Closing.
Pre-Existing Limitations; Service Credit. With respect to any Employee Benefit Plans of Buyer, the Surviving Corporation or their Affiliates in which Seller Employees participate after the Effective Time, Buyer shall, or shall cause the Surviving Corporation or such affiliates to: (i) waive all limitations as to pre-existing conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to Seller Employees to the extent such limitations were waived or otherwise satisfied under the comparable Employee Benefit Plans, and (ii) recognize all regular employee service of Seller Employees with Seller and its current and former affiliates for purposes of eligibility to participate, vesting, form of payment and calculation of the rate of benefits (if applicable) relating to service after the Effective Time, but not (A) to the extent such recognition would result in duplication of benefits or (B) for purposes of benefit accrual under any defined benefit pension plan or equity plan, and only to the same extent such service would be taken into account under a comparable Employee Benefit Plan immediately prior to the Effective Time.
Pre-Existing Limitations; Service Credit. With respect to any Benefit Plans in which any Agouron Employees first become eligible to participate, on or after the Effective Time, and which are plans that the Agouron Employees did not participate in prior to the Effective Time (the "New Agouron Plans"), Wxxxxx-Xxxxxxx shall: (A) waive all pre-existing conditions, exclusions and waiting periods with respect to participation and coverage requirements applicable to the Agouron Employees under any New Agouron Plans in which such employees may be eligible to participate after the Effective Time; provided that such Agouron Employee and covered family members were enrolled in comparable coverage under the Benefit Plans of Agouron on the Effective Time and continuously thereafter until the effective time of coverage in the New Agouron Plans, and to the extent such waiver is permissible under the insurance contracts of Wxxxxx-Xxxxxxx, and (B) recognize service of the Agouron Employees with Agouron accrued prior to the Effective Time for purposes of eligibility to participate and vesting credit in any New Agouron Plan in which such employees may be eligible to participate after the Effective Time, to the extent such service is taken into account under the applicable New Agouron Plan.
Pre-Existing Limitations; Service Credit. With respect to any benefit plans of Buyer in which the Transferred Employees participate after the Closing, Buyer shall recognize all regular employee service of the Transferred Employees with the Seller Companies for purposes of eligibility to participate, vesting, form of payment and calculation of the rate of benefits (if applicable) relating to service after the Closing, but not (A) to the extent such recognition would result in duplication of benefits or (B) for purposes of benefit accrual under any defined benefit pension plan or equity plan, and only to the same extent such service would be taken into account under a comparable Employee Benefit Plan immediately prior to the Closing.
