Common use of COBRA Coverage Clause in Contracts

COBRA Coverage. Seller shall continue to provide continuation coverage required by Section 4980B of the IRC and Sections 601 to 608 of ERISA (“COBRA”) to all current and former employees of the Bay Area Business and their covered beneficiaries who are entitled to COBRA with respect to “qualifying events” (as defined in Section 4980B of the Code) which are incurred on or prior to the Closing Date but are not in connection with the transaction contemplated hereby. Buyer shall provide or cause to be provided any COBRA coverage with respect to any Business Employees and their covered beneficiaries who are entitled to COBRA coverage with respect to “qualifying events” that are incurred (i) on or prior to the Closing Date and in connection with the transaction contemplated hereby or (ii) after the Closing Date under any group health plan of Buyer or the Acquired Companies in which Acquired Employees participate.

COBRA Coverage. Seller shall continue to provide continuation coverage required by Section 4980B of the IRC and Sections 601 to 608 of ERISA (“COBRA”) to all current and former employees of the Bay Area Business and their covered beneficiaries who are entitled to COBRA with respect to “qualifying events” (as defined in Section 4980B of the Code) which are incurred on or prior to the Closing Date but are not in connection with the transaction contemplated hereby. Buyer shall provide or cause to be provided any COBRA coverage with respect to any Business Employees and their covered beneficiaries who are entitled to COBRA coverage with respect to “qualifying events” that are incurred (ia) on or prior to the Closing Date and in connection with the transaction contemplated hereby or (iib) after the Closing Date under any group health plan of Buyer or the Acquired Companies in which Acquired Employees participate.

COBRA Coverage. Seller shall continue to provide continuation coverage required by Section 4980B of the IRC and Sections 601 to 608 of ERISA (“COBRA”) to all current and former employees of the Bay Area Other Business and their covered beneficiaries who are entitled to COBRA with respect to “qualifying events” (as defined in Section 4980B of the Code) which are incurred on or prior to the Closing Date but are not in connection with the transaction contemplated hereby. Buyer shall provide or cause to be provided any COBRA coverage with respect to any Business Employees and their covered beneficiaries who are entitled to COBRA coverage with respect to “qualifying events” that are incurred (i) on or prior to the Closing Date and in connection with the transaction contemplated hereby or (ii) after the Closing Date under any group health plan of Buyer or the Acquired Companies in which Acquired Employees participate.