Common use of Group Insurance Policies Clause in Contracts

Group Insurance Policies. (i) This Section 5.2(b) applies to group insurance policies not subject to allocation or transfer pursuant to the foregoing provisions of this Article V ("Group Insurance Policies"). (ii) ATI shall use its Reasonable Efforts to amend each Group Insurance Policy in existence as of the date of this Agreement for the provision or administration of benefits under the ATI Health and Welfare Plans to permit Teledyne Technologies to participate in the terms and conditions of such policy from Immediately After the Distribution Date until December 31, 2000. ATI shall use its Reasonable Efforts to cause all Group Insurance Policies into which ATI enters or which ATI renews after the date of this Agreement but before the Close of the Distribution Date to allow Teledyne Technologies to participate in the terms and conditions thereof effective Immediately After the Distribution Date on the same basis as ATI. (iii) Teledyne Technologies' participation in the terms and conditions of each such Group Insurance Policy shall be effectuated by obligating the insurance company that issued such insurance policy to ATI to issue one or more separate policies to Teledyne Technologies. Such terms and conditions shall include the financial and termination provisions, performance standards and target claims. Teledyne Technologies hereby unconditionally and irrevocably authorizes ATI to act on its behalf to extend to Teledyne Technologies the terms and conditions of such Group Insurance Policies. Teledyne Technologies shall fully cooperate with ATI in such efforts, and Teledyne Technologies shall not perform any act, including discussing any alternative arrangements with third parties, that would prejudice ATI's efforts.