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. 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. 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. 10.14
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. Upon Executive’s performance of all covenants, agreements, and obligations in the Agreement and his separation from service on May 31, 2021, Company agrees to make a lump sum payment to Executive in an amount equal to eighteen (18) months of medical COBRA premiums (the “COBRA Continuation Payment”). Such amount shall be calculated based upon the effective COBRA rates for Executive’s medical coverage at the time of his separation from service and shall be paid within fifteen (15) days of Executive’s separation from service. The COBRA Continuation Payment will be subject to Federal Income Tax withholding, Medicare and Social Security tax withholdings (subject to the federal social security maximum), and any other deductions as may be required by law. Following the Separation Date, Executive will be eligible for continued coverage under the Company’s health plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”) in accordance with the terms of applicable law.
COBRA Matters. The Drilex Parties shall make available to Xxxx, at Xxxx'x expense, health insurance continuation coverage to the extent required under Part 6 Title I of the Employee Retirement Income Security Act of 1974, as amended (COBRA).
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.
COBRA Matters. (1) None of the Sellers’ former employees are currently receiving benefits under COBRA.
