COBRA Obligations. Sellers will be solely responsible for any obligations for continuation coverage under Section 4980B of the Internal Revenue Code and part 6 of Subtitle B of Title I of ERISA with respect to all of the Transferred Employees and any other former employees of Sellers, including Employees on Leave.
COBRA Obligations. Notwithstanding anything in this Agreement to the contrary, Sellers shall retain all liabilities, and Buyer shall have no liability, with respect to the provision of notices, election periods and benefits pursuant to section 4980B of the Code or Part 6 of Subtitle B of Title I of ERISA (“COBRA”), to any Business Employees or any other former employees of Sellers or other individuals associated with any Business Employees or any other former employees of Sellers with respect to qualifying events occurring on or before the Closing Date or in connection with the transactions contemplated herein.
COBRA Obligations. The Selling Entities shall retain all liabilities, perform all obligations and maintain all insurance under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA") with respect to its employees and former employees of the Business and their covered dependents, whether or not such employees accept employment with Buyer.
COBRA Obligations. Within fifteen (15) business days after Closing, Seller shall take the necessary steps to assign to Buyer all insurance policies and agreements relating to Seller's group health and dental plans. If the above contracts are assigned to Buyer within such fifteen business day period, Buyer shall be solely responsible for providing any required notices under federal or state COBRA to all Seller employees (and their eligible dependents) whose employment with Seller has been terminated in connection with the contemplated transaction and who do not become Designated Employees. All eligible Seller employees (and their eligible dependents) who have terminated employment prior to Closing shall be eligible for COBRA coverage under Seller's existing medical insurance plan and , to the extent required by law, dental insurance plan; provided, however, that if Buyer assumes Seller's medical and dental plans, then Buyer will provide COBRA coverage to Seller employees (and their eligible dependents) as required by COBRA. Seller shall be responsible for satisfying obligations under Section 601 et seq. of ERISA and Section 4980B of the Code, to provide continuation coverage to or with respect to all employees and former employees of Seller in accordance with Law with respect to any "QUALIFYING EVENT" occurring before the Closing. Seller agrees to pay and be liable to Buyer for and shall assume, indemnify, defend and hold harmless Buyer from and against any and all losses, damages, liabilities, Taxes, sanctions, interest and penalties, costs and expenses (including, without limitation, disbursements and reasonable legal fees incurred in connection therewith, and any amounts or expenses required to be paid or incurred in connection with any action, suit, proceeding, claim, appeal, demand, assessment or judgement) imposed upon, incurred by, or assessed against Buyer arising by reason of or relating to any failure by Seller to comply with the continuation health care coverage requirements of Section 4980B of the Code and Sections 601 through 608 of ERISA, which failure occurred with respect to any current or prior employee of Seller or any qualified beneficiary of such employee before the Closing. Seller shall provide Buyer with copies of creditable coverage certificates provided to each Designated Employee on or prior to Closing in compliance with the Health Insurance Portability and Accountability Act of 1996, as amended.
COBRA Obligations. (a) Buyer will be solely responsible for any obligations for continuation coverage under Section 4980B of the Tax Code and part 6 of Subtitle B of Title I of ERISA with respect to Transferee Employees, provided that Seller shall be solely responsible for notifying Transferee Employees of their right to such continuation coverage in accordance with Sections 4980B(f)(6) of the Tax Code and 606(a)(4)
COBRA Obligations. Emmis will be solely responsible for any obligations for continuation coverage under section 4980B of the Code and part 6 of Subtitle B of Title I of ERISA with respect to all of the Station Employees and any other former employees of Emmis, including Employees on Leave, with respect to any “qualifying event” that occurred on or before the Closing Date or, if later, on or before the date any such Station Employee becomes an employee of Mediaco.
COBRA Obligations. Seller shall satisfy and discharge any obligations to provide health care continuation coverage as required by the Consolidated Omnibus Budget Reconciliation Act of 1985 and as described in Section 4980B of the Code and Sections 601 through 608 of ERISA and as required by any applicable state continuation of health coverage provisions (collectively, "COBRA OBLIGATIONS") to any employee of the Station whose employment is terminated prior to the Closing Date to whom Seller has on-going COBRA Obligations (and such employee's covered dependents). Buyer shall satisfy and discharge all other COBRA Obligations with respect to Transferred Employees (and such employees' covered dependents). Seller and Buyer shall reasonably cooperate in good faith to comply with their respective COBRA Obligations hereunder.
COBRA Obligations. To the extent that the Purchaser provides LGI the COBRA Notice Election pursuant to Section 5.17, Sellers shall have provided 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 have provided evidence of the foregoing to Purchaser in a form that is reasonably satisfactory to Purchaser.
COBRA Obligations. Seller shall comply with applicable statutory requirements to provide continuation coverage under Part 6 of Subtitle B of Title I of ERISA and Section 4980B of the Code (and any similar state law requirement) to (a) any former employee of Seller who, as of the Closing Date, has elected or is entitled to elect such coverage under Seller’s group health plans, and (b) any current employee of Seller (and any covered spouse or dependent of such employee) who becomes entitled to elect such coverage by virtue of the consummation of the transactions contemplated by this Agreement.
COBRA Obligations. FabriSteel will be responsible for all COBRA obligations for employees of FabriSteel (and their dependents) who have a qualifying event (as defined under COBRA) on or before the Closing Date.
