Disability Benefits and Leaves. Buyer will, or will cause the Companies and the Transferring Subsidiaries to, assume all liabilities with respect to Covered Persons payable under any Seller Plan providing disability benefits, whether related to a disability that occurred before or after the Cut-Off Date. Except as provided in the previous sentence, (i) Seller and the Seller Plans shall retain the liability for all long-term disability benefits payable to any Covered Person under the terms of Seller’s long-term disability plans after the Cut-Off Date with respect to any disability that occurred prior to the Cut-Off Date (but not with respect to any reoccurrence of such a disability after the Cut-Off Date), (ii) Buyer, the Companies, the Subsidiaries or a Buyer’s Plan shall assume the liability for all short-term disability benefits payable to any Retained Employee under any Seller Plan providing short-term disability benefits that are payable following the Cut-Off Date with respect to any disability that occurred prior to the Cut-Off Date (determined under the terms of the Seller Plan or personnel policy that applies to the disabled Retained Employee immediately prior to the Cut-Off Date) until the date, if any, on which the Retained Employee qualifies for long-term disability benefits under the Seller Plans, and (iii) Buyer’s Plans will govern the determination of what, if any, short-term and long-term disability benefits will be paid to any Retained Employee whose disability occurs after the Effective Time (or which reoccurs after the Effective Time). If any Retained Employee is on any form of leave of absence at the Effective Time (including any leave subject to the Family and Medical Leave Act of 1993 or comparable state law), Buyer shall reinstate, or shall cause the Companies or the Transferring Subsidiaries to reinstate, such Retained Employee to active employment upon the expiration of the leave to the extent such reinstatement is required by any applicable law or regulation or by the Companies’ and the Subsidiaries’ personnel policies and shall satisfy any other obligation with respect to such Retained Employee as required under any applicable law or regulation or the Companies’ and the Subsidiaries’ personnel policies (copies of which have been made available to Buyer) upon the expiration of such leave.
Disability Benefits and Leaves. (i) Disabilities that Occurred Prior to the Effective Time. With respect to any disability of a Transferred Employee that occurred prior to the Effective Time, Sellers' Plans shall retain the liability for all long-term disability benefits payable to any Cut-Off Date Employee under the terms of Sellers' long-term disability plans after the Effective Time (but not with respect to any reoccurrence of such a disability after the Effective Time, unless such reoccurrence would be considered a continuation of the original disability under the terms of the applicable Sellers' long-term disability plan). Buyer or a Buyer's Plan shall assume the liability for all short-term disability benefits payable to any Transferred Employee under Sellers' short-term disability plans that are payable following the Effective Time with respect to any disability that occurred prior to the Effective Time (determined under the terms of Seller's Plans or personnel policy that applies to the disabled Transferred Employee immediately prior to the Effective Time) until the date, if any, on which the Transferred Employee qualifies for benefits under the Sellers' long-term disability plans. Buyer acknowledges that liability for short-term disability benefits is not accrued on the Financial Statements.
Disability Benefits and Leaves. Seller's and/or its affiliates' benefits plans, programs and policies shall govern for all long-term and short-term disability benefits payable to any Transferred Employee under the terms of Seller's long-term and/or short-term disability plans after the relevant Closing affecting such Transferred Employee with respect to any disability that occurred prior to the relevant Closing (but not with respect to any reoccurrence of such a disability after the relevant Closing). Buyer's Plans will govern the determination of what, if any, short-term and long-term disability benefits will be paid to any Transferred Employee whose disability occurs after the relevant Closing affecting such Transferred Employee, or that reoccurs after the relevant Closing.
Disability Benefits and Leaves. Sellers’ Plans shall retain the liability for all long-term and short-term disability benefits payable to any Employee under the terms of Sellers’ long-term and/or short-term disability plans after the Closing with respect to any disability that occurred prior to the Closing (but not with respect to any reoccurrence of such a disability after the Closing). Buyer’s Plans will govern the determination of what, if any, short-term and long-term disability benefits will be paid to any Transferred Employee whose disability occurs after the Closing (or that reoccurs after the Closing).
Disability Benefits and Leaves
