Common use of Group Insurance Policies Clause in Contracts

Group Insurance Policies. (i) This Section 4.4(b) applies to group insurance policies not subject to allocation or transfer pursuant to the foregoing provisions of this Article IV ("Group Insurance Policies"). (ii) Parent and ElderCare shall use their reasonable best efforts to amend each Group Insurance Policy in existence as of the date of this Agreement that is applicable to ElderCare Individuals for the provision or administration of benefits under the Parent Health and Welfare Plans to permit ElderCare to participate in the terms and conditions of such policy from Immediately after the Distribution Date through the Transition Date. Parent and ElderCare shall use their reasonable best efforts to cause all Group Insurance Policies that are applicable to ElderCare Individuals entered into or renewed after the date of this Agreement but before the Close of the Distribution Date to allow ElderCare to participate in the terms and conditions thereof effective Immediately after the Distribution Date on the same basis as Parent. (iii) ElderCare's 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 Parent to issue one or more separate policies to ElderCare. Such terms and conditions shall include, without limitation, the financial and termination provisions, performance standards and target claims.