COBRA Matters. The Company agrees to provide and be fully responsible for the continuation coverage required by Section 4980B of the Code and Sections 601 through 608 of ERISA ("COBRA") for all employees and former employees of the Company and their covered beneficiaries who incurred or will incur a qualifying event prior to the Closing Date, or will incur a qualifying event as a result of the consummation of the transactions contemplated herein, and who are entitled to COBRA coverage as a result thereof.
COBRA Matters. 40 ARTICLE X SURVIVAL OF REPRESENTATIONS............................................................................40
COBRA Matters. If within two (2) days prior to the Closing Date the Purchaser provides written notice to LGI that Purchaser elects for Sellers to provide the notification described below in this Section 5.17 (such written notice by Purchaser to LGI, the “COBRA Notice Election”), Sellers shall prior to the Closing Date provide notification of the right to receive continued health benefit coverage under Sellers’ health benefit plans pursuant to Section 4980B of the Tax Code to all qualified beneficiaries (as defined in Section 4980B(g)(1)(D) of the Tax Code) who have lost coverage under Sellers’ health benefit plans as a result of the “qualifying event” defined in Tax Code Section 4980B(f)(3)(F), which qualified beneficiaries are listed on Section 8.02(m) of the Sellers’ Disclosure Schedule, and shall provide evidence of the foregoing to Purchaser in a form that is reasonably satisfactory to Purchaser.
COBRA Matters. To the extent (a) Citadel is required to provide COBRA benefits to any employee (whether current, former or future) of Sellers or the Stations who does not become an employee of Citadel and (b) the benefits or reimbursement paid to, for or on behalf of each such employee under the COBRA benefits exceeds the premiums paid by each such employee for the COBRA benefits, Sellers and Stockholders shall reimburse Citadel in an amount equal to any such excess upon written demand therefor.
COBRA Matters. For purposes of continuation coverage required by Section 4980B of the Code and Sections 601 through 608 of ERISA ("COBRA"), the Transferred Employees shall be considered to have undergone a termination of employment with Seller. It is the understanding and intention of Seller and Buyer that the health coverage to be afforded the Transferred Employees pursuant to Section 5.3(b)(ii) shall be coverage that, pursuant to ERISA, terminates any continuation coverage rights the Transferred Employees might otherwise have under COBRA as a result of termination of employment with Seller.
COBRA Matters. Schedule 6.46 sets forth the name, address, telephone number, social security number, and date of Qualifying Event (as defined in section 603 of ERISA) of each individuals covered under a group health plan that is subject to section 601 of ERISA and sponsored by LABN or LA Bank or any of their subsidiaries who have experienced a Qualifying Event since February 16, 1998, together with documentation of compliance by LABN or LA Bank, as the case may be, with applicable notice requirements.
COBRA Matters. Seller shall be responsible for providing health care continuation coverage pursuant to the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), to the extent required by COBRA, for all Transferred Employees and their covered dependents who had a "qualifying event" under COBRA prior to commencement of employment with Purchaser or one of its Affiliates, and Purchaser shall be responsible for providing health care continuation coverage pursuant to COBRA for all Transferred Employees and their dependents who had a "qualifying event" under COBRA at any time after commencement of employment with Purchaser or one of its Affiliates.
COBRA Matters. Seller shall be responsible for providing health care continuation coverage pursuant to the requirements of COBRA, to the extent required by COBRA, for all Personnel and their covered dependents who had a "qualifying event" under COBRA to and through the event of Closing. Purchaser will cause all Personnel to be offered enrollment under a health care plan after the Closing Date in accordance with the conditions set forth in Section 10.1 above.
COBRA Matters. 38 ARTICLE XSURVIVAL; NO OTHER REPRESENTATIONS......................................................................38
COBRA Matters. Promptly following the date hereof (but in no event later than February 28, 2009), Sellers shall provide notification of the right to receive continued health benefit coverage under Sellers’ health benefit plans pursuant to Section 4980B of the Tax Code to all qualified beneficiaries (as defined in Section 4980B(g)(1)(D) of the Tax Code) who have lost coverage under Sellers’ health benefit plans as a result of the “qualifying event” defined in Tax Code Section 4980B(f)(3)(F), which qualified beneficiaries are listed on Section 8.02(k) of the Sellers’ Disclosure Schedule, and shall provide evidence of the foregoing to Purchaser in a form that is reasonably satisfactory to Purchaser.
