Common use of Assumption/Retention of Liabilities Clause in Contracts

Assumption/Retention of Liabilities. As described in this Agreement and except as otherwise provided in the Distribution Agreement, Spinco hereby agrees, as of the dates set forth herein, to assume and to pay, perform, fulfill, and discharge, or to cause an employee benefit plan to assume, pay, perform, fulfill, and discharge, or to cause an employee benefit plan, program or arrangement to assume, pay, perform, fulfill and discharge, in accordance with their respective terms, all liabilities (regardless of when or where such liabilities arose or arise or were or are incurred) relating to Spinco Employees and Sxxxx Individuals, under or with respect to the employee benefit plans, policies, and compensation programs as set forth in Schedule III, to the extent relating to, arising out of, or resulting from future, present, or former employment with the AT Co. Group or Spinco Group. Alltel and AT Co. Group hereby agrees to retain, pay, perform, fulfill and discharge or cause an employee benefit plan, program or arrangement to retain, pay, perform, fulfill and discharge, in accordance with their respective terms, all liabilities (regardless of when or where such liabilities arose or arise or were or are incurred) relating to Alltel Wireless Employees.

Assumption/Retention of Liabilities. As described in this Agreement and except as otherwise provided in the Distribution Agreement, Spinco hereby agrees, as of the dates set forth herein, to assume and to pay, perform, fulfill, and discharge, or to cause an employee benefit plan to assume, pay, perform, fulfill, and discharge, or to cause an employee benefit plan, program or arrangement to assume, pay, perform, fulfill and discharge, in accordance with their respective terms, all liabilities (regardless of when or where such liabilities arose or arise or were or are incurred) relating to Spinco Employees and Sxxxx Xxxxx Individuals, under or with respect to the employee benefit plans, policies, and compensation programs as set forth in Schedule III, to the extent relating to, arising out of, or resulting from future, present, or former employment with the AT Co. Group or Spinco Group. Alltel and AT Co. Group hereby agrees to retain, pay, perform, fulfill and discharge or cause an employee benefit plan, program or arrangement to retain, pay, perform, fulfill and discharge, in accordance with their respective terms, all liabilities (regardless of when or where such liabilities arose or arise or were or are incurred) relating to Alltel Wireless Employees.