Prior Service; Deductibles Sample Clauses

Prior Service; Deductibles. To the extent not otherwise required by or resulting from the operation of Law, the Buyers shall, or shall cause the Sold Companies and the Subsidiaries to, recognize each Company Employee's service with the Sellers, any of the Sold Companies, the Subsidiaries or any of their respective Affiliates or their respective predecessors as of the Closing as service with the Buyers, the Sold Companies and the Subsidiaries, as applicable, for purposes of vesting and eligibility to participate in (but not, except as otherwise provided in Section 5.8(d) or as required under mandatory provisions of Laws relating to Non-U.S. Employees, for purposes of eligibility for early retirement and benefit accrual) the Buyers', the Sold Companies' and the Subsidiaries' employee welfare benefit plans, employee pension plans, vacation, disability, severance and other employee benefit plans or policies and any other such plans or policies in which the Company Employees will be entitled to participate in on and after the Closing Date. In addition, the Buyers shall, or shall cause the Sold Companies and the Subsidiaries to, waive any pre-existing condition limitations and eligibility waiting periods under the employee welfare benefit plans applicable to Company Employees or their respective spouses and dependents (but only to the extent such pre-existing condition limitations and eligibility waiting periods were satisfied under the Company Benefit Plans as of the Closing Date) and shall recognize (or cause to be recognized) the dollar amount of all expenses incurred by Company Employees and their respective spouses and dependents during the calendar year in which the Closing occurs for purposes of satisfying the deductibles and co-payment or out-of-pocket limitations for such calendar year under the relevant employee welfare benefit plans of the Buyers, the Sold Companies, the Subsidiaries, and any other such plans or policies in which the Company Employees will be entitled to participate in on and after the Closing Date, as applicable.
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Prior Service; Deductibles. The Buyers shall recognize each Dresser-Rand Group Employee's service with the Sellers or the Dresser-Rand Group as of the Closing Date as service with Buyers for all purposes, as applicable, in the Buyers' employee welfare benefit plans, employee pension plans, vacation, disability, severance and other employee benefit plans or policies, but only to the extent that such service was recognized by the Sellers or the Dresser-Rand Group under the Dresser-Rand Group Plans, except where such crediting would result in an unintended duplication of benefits. In addition, the Buyers shall, or shall cause the Dresser-Rand Group to, waive any pre-existing condition limitations and eligibility waiting periods under the employee benefit plans applicable to Dresser-Rand Group Employees or their respective dependents to the extent such pre-existing limitations and eligibility waiting periods were satisfied or did not exist or apply under the comparable Dresser-Rand Group Plans prior to the Closing. Buyers shall, or shall cause the Dresser-Rand Group to recognize (or cause to be recognized) the dollar amount of all expenses incurred by Dresser-Rand Group Employees and their respective dependents during the calendar year in which the Closing Date occurs for purposes of satisfying the deductibles and co-payment or out- of-pocket limitations for such calendar year under the relevant employee welfare benefit plans of the Buyers to the extent such expenses were recognized by the comparable Dresser-Rand Group Plan prior to the Closing.
Sample 1Sample 2
Prior Service; Deductibles. Buyers shall recognize each Partnership Employee's service with the Sellers or the Partnership Group as of the Closing Date as service with Buyers for all purposes, as applicable in Buyers' employee welfare benefit plans, employee pension plans as described in Section 6.6(a)(ii)(B), vacation, disability, severance and other employee benefit plans or policies, but only to the extent that such service was recognized by Sellers or the Partnership Group under the applicable Partnership Group Plans. In addition, Buyers shall, or shall cause the Partnership Group to, waive any pre-existing condition limitations and eligibility waiting periods under the employee welfare benefit plans applicable to Partnership Employees or their respective dependents and shall recognize (or cause to be recognized) the dollar amount of all expenses incurred by Partnership Employees and their respective dependents during the calendar year in which the Closing Date occurs for purposes of satisfying the deductibles and co-payment or out-of-pocket limitations for such calendar year under the relevant employee welfare benefit plans of Buyers.
Sample 1
Prior Service; Deductibles. Buyer shall recognize each Business Employee's service with Seller or any Subsidiary as of the Closing Date as service with Buyer for all purposes, including eligibility, vesting and benefit levels, as applicable in Buyer's employee welfare benefit plans, employee pension plans, vacation, disability, severance and other employee benefit plans or policies, but only to the extent that such service was recognized by Seller or any Subsidiary under the applicable Business Group Plans. In addition, Buyer shall, or shall cause the Transferred Subsidiaries to, waive any pre-existing condition limitations and eligibility waiting periods under the employee welfare benefit plans applicable to Business Employees or their respective dependents, but only to the extent that such service was recognized under such plans for such purposes. Buyer shall recognize (or cause to be recognized) the dollar amount of all expenses incurred by Business Employees and their respective dependents during the calendar year in which the Closing Date occurs for purposes of satisfying the deductibles and co-payment or out-of-pocket limitations for such calendar year under the relevant employee welfare benefit plans of Buyer.
Sample 1
Prior Service; Deductibles. The Company or the Subsidiaries shall recognize each Business Employee's service with the Company, the Subsidiaries or any Seller Affiliate or their respective predecessors as of the Closing as service with the Company, the Subsidiaries or from and after Closing any of their respective Affiliates, as applicable, for all purposes, in the employee welfare benefit plans, employee pension plans, vacation, disability, severance and other employee benefit plans, arrangements or policies of the Company or the Subsidiaries. In addition, the Company and the Subsidiaries shall not alter, amend or replace any employee welfare benefit plan, unless the same provides that it shall waive any pre-existing condition limitations and eligibility waiting periods under the employee welfare benefit plans applicable to Business Employees or their respective spouses or dependents and shall recognize (or cause to be recognized) the monetary amount of all expenses incurred by Business Employees and their respective spouses or dependents during the calendar year in which the Closing occurs for purposes of satisfying the deductibles and co-payment or out-of-pocket limitations for such calendar year under any altered, amended or replacement employee welfare benefit plans, as applicable. The Company shall treat the original date of hire with the Company, the Subsidiaries or any Seller Affiliate as the date of hire with the Company or the Subsidiaries for all employee benefit purposes.
Sample 1

Related to Prior Service; Deductibles

  • Deductibles If there is a material adverse change in the financial condition of LESSEE which LESSOR reasonably believes will not enable LESSEE to pay the deductible upon the occurrence of a partial loss of the Aircraft or an Engine, then LESSOR may require LESSEE at LESSEE's expense to lower its deductibles on the insurance maintained hereunder to a level which is available on commercially reasonable terms in the insurance market.

  • Hazard Insurance Deductible Except as a greater amount may be required by an applicable law, each Hazard Insurance deductible may not exceed FNMA or FHLMC's required deductible.

  • Customary Fringe Benefits Executive will be eligible for all customary and usual fringe benefits generally available to executives of Company subject to the terms and conditions of Company’s benefit plan documents. Company reserves the right to change or eliminate the fringe benefits on a prospective basis, at any time, effective upon notice to Executive.

  • Cash Flow Coverage The Borrower shall maintain at all times a Cash Flow Coverage of not less than one hundred twenty five percent (125%), calculated at the end of each fiscal quarter (using a rolling four quarters of Net Income).

  • Deductible No amount shall be payable under Article VII unless and until the aggregate amount of all indemnifiable Losses otherwise payable exceeds $250,000 (the “Deductible”), in which event the amount payable shall include all amounts included in the Deductible and all future amounts that become payable under Section 7.1 from time to time thereafter.

  • Flexible Spending Accounts Effective as of the Cessation Time, Chaparral shall have in place a flexible spending account plan in which Chaparral Business Employees shall maintain their existing eligibility and participation status under the flexible spending account plan maintained by TXI. Salary reduction elections made by Chaparral Business Employees under the TXI flexible spending account plan shall continue to apply with respect to the Chaparral flexible spending account plan at least through the end of the 2005 calendar year. As of the Cessation Time, Chaparral shall credit or debit (as applicable), or cause to be credited or debited, the account of each Chaparral Business Employee under the Chaparral flexible spending account plan with an amount equal to the positive or negative balance of such Chaparral Business Employee’s flexible spending accounts under the TXI flexible spending account plan immediately prior to the Cessation Time. For purposes of this Section, the balance of a Chaparral Business Employee’s flexible spending account shall be determined as the amount of the Chaparral Business Employee’s contributions for the 2005 calendar year to the account as of the Cessation Time minus the amount of his or her reimbursements for the 2005 calendar year from the account as of the Cessation Time. TXI shall pay, or cause to have paid, to Chaparral any net positive balance of the amounts credited to the flexible spending accounts of Chaparral Business Employees as of the Cessation Time, and Chaparral shall pay, or cause to have paid, to TXI any net negative balance of the amounts credited to such accounts. Any such payments shall be made as soon as administratively practicable after the Cessation Time. Chaparral shall assume and be solely responsible for (i) all claims which have been submitted by Chaparral Business Employees under the TXI flexible spending account plan but not yet paid as of the Cessation Time, and (ii) all claims submitted under the Chaparral flexible spending account plan after the Cessation Time. TXI shall provide Chaparral with copies of any records available to TXI to document the claims described in clause (i) above.

  • Welfare Plans (a) For all purposes (including purposes of vesting, eligibility to participate and level of benefits) under the employee welfare benefit plans of Buyer and its affiliates providing benefits to any Acquired Employees after the Closing (the “New Welfare Plans” ), each Acquired Employee shall subject to applicable Law and applicable tax qualification requirements be credited with his or her years of service with Knight Ridder or its affiliates, including the Acquired Companies and their Subsidiaries, before the Closing, to the same extent as such Acquired Employee was entitled, before the Closing, to credit for such service under any similar employee benefit plan in which such Acquired Employee participated or was eligible to participate immediately prior to the Closing, provided that the foregoing shall not apply to the extent that its application would result in a duplication of benefits. In addition, and without limiting the generality of the foregoing, (A) each Acquired Employee shall be immediately eligible to participate, without any waiting time, in any and all New Welfare Plans if such Acquired Employee participated immediately before the consummation of the transactions contemplated by this Agreement in a comparable type of welfare benefit plan of a Seller Entity (such plans, collectively, the “Old Plans” ), and (B) for purposes of each New Welfare Plan providing medical, dental, pharmaceutical and/or vision benefits to any Acquired Employee, Buyer, or, as applicable, an Acquired Company, shall cause all pre-existing condition exclusions and actively-at-work requirements of such New Welfare Plan to be waived for such Acquired Employee and his or her covered dependents, unless such conditions would not have been waived under the comparable plans of Knight Ridder or its affiliates, including the Acquired Companies and their Subsidiaries, in which such Acquired Employee participated immediately prior to the Closing and Buyer shall cause any eligible expenses incurred by such employee and his or her covered dependents during the portion of the plan year of the Old Plan ending on the date such employee’s participation in the corresponding New Welfare Plan begins to be taken into account under such New Welfare Plan for purposes of satisfying all deductible, coinsurance and maximum out-of-pocket requirements applicable to such employee and his or her covered dependents for the applicable plan year as if such amounts had been paid in accordance with such New Welfare Plan.

  • Reconstruction Coverage If, with respect to a PUD or Condominium Project in which a Mortgaged Property is located, there is a construction code provision that would require changes to undamaged portions of the PUD or Condominium Project's building(s) even when only part of a building is destroyed by an insured hazard, then the Servicer must ensure that each insurance policy required by this Article contains the necessary construction code endorsements to cover this exposure.

  • Sale of Products; Performance of Services (a) Each product, system, program, or other asset designed, developed, manufactured, assembled, sold, installed, repaired, licensed or otherwise made available by any of the Company or any of its subsidiaries to any person:

  • Business Travel, Lodging, etc Employer shall reimburse Executive for reasonable travel, lodging, meal and other reasonable expenses incurred by him/her in connection with his/her performance of services hereunder upon submission of evidence, satisfactory to Employer, of the incurrence and purpose of each such expense and otherwise in accordance with Employer’s business travel reimbursement policy applicable to its senior executives as in effect from time to time.

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