Gaming DSP and MSP Clause Samples

Gaming DSP and MSP. As of the Effective Date, Hyatt shall determine the amount of liabilities under the Hyatt DSP and Hyatt MSP attributable to Gaming Employees, Grand Victoria Employees and Hyatt Terminees, including employee contributions for payroll periods commencing prior to the Effective Date, but not made as of the Effective Date. As soon as administratively practicable thereafter, Hyatt shall pay to the appropriate member of the Gaming Group an amount equal to such liabilities either directly or through a trust to trust transfer of such amounts from the rabbi trusts established under the Hyatt DSP and Hyatt MSP to the rabbi trust established by HGMI under Section 4.1. Coincident with the receipt of the transfer of such amounts, each member of the Gaming Group shall unconditionally and irrevocably assume all liabilities described in this paragraph and all responsibilities and obligations relating to, arising out of, or resulting from such liabilities with respect to the Gaming Employees, Grand Victoria Employees and Hyatt Terminees attributable to such member of the Gaming Group so that all such liabilities associated with the Hyatt Terminees, Gaming Employees and Grand Victoria Employees are assumed by the members of the Gaming Group. As of the Effective Date, the Transferred Employees shall cease all future participation in the Hyatt DSP and Hyatt MSP. Each member of the Gaming Group shall be responsible for the matching contributions due for 2004 under the Gaming DSP, Gaming MSP, Hyatt DSP and Hyatt MSP and Hyatt shall not be responsible for any portion thereof.