Common use of Reimbursement Account Plans Clause in Contracts

Reimbursement Account Plans. Effective as of the Closing Date ITC shall have established a health and dependent care reimbursement account plan (the “ITC Reimbursement Account Plan”) with features substantially similar to those contained in the Entergy Corporation Companies Benefits Plus Reimbursement Plan (or any successor thereto) as in effect immediately prior to the Closing Date (the “Entergy Reimbursement Account Plan”). ITC shall assume responsibility for administering under the ITC Reimbursement Account Plan all reimbursement claims of TransCo Employees with respect to the period before, on and after the Closing Date. No more than forty-five (45) days following the Closing Date (or such later time as mutually agreed by Entergy and ITC), (A) Entergy shall cause to be transferred to ITC an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of all contributions to the Entergy Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee prior to the Closing Date over the amount previously distributed to the TransCo Employees under the Entergy Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year), and (B) ITC shall cause to be transferred to Entergy an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of the amount previously distributed to the TransCo Employees under the Entergy Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year)over all contributions to the Entergy Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee prior to the Closing Date.

Reimbursement Account Plans. Effective as of the Closing Date ITC PJT HoldCo shall, or shall have caused one or more members of the PJT Group to, have established a health and dependent care reimbursement account plan (the “ITC PJT Reimbursement Account Plan”) with features substantially similar to those contained in the Entergy Corporation Companies Benefits Plus Reimbursement Blackstone Administrative Services Partnership LP Health and Welfare Plan (or any successor thereto) as in effect immediately prior to the Closing Date (the “Entergy Blackstone Reimbursement Account Plan”). ITC PJT shall assume responsibility for administering under the ITC PJT Reimbursement Account Plan all reimbursement claims of TransCo Employees with respect to PJT Personnel incurred in the period calendar year in which the Closing Date occurs, whether such claims arose before, on and after the Closing Date. No more than forty-five (45) calendar days following the Closing Date (or such later time as mutually agreed by Entergy BX and ITCPJT HoldCo), (A) Entergy BX shall, or shall cause one or more members of the Blackstone Group to, cause to be transferred to ITC PJT HoldCo, or such member of the PJT Group as PJT HoldCo designates, an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of all contributions to the Entergy Blackstone Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee PJT Personnel prior to the Closing Date over the amount previously distributed to the TransCo Employees PJT Personnel under the Entergy Blackstone Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year), and (B) ITC PJT HoldCo shall cause to be transferred to Entergy BX, or such member of the Blackstone Group as BX designates, an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of the amount previously distributed to the TransCo Employees PJT Personnel under the Entergy Blackstone Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year)over year) over all contributions to the Entergy Blackstone Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee PJT Personnel prior to the Closing Date.

Reimbursement Account Plans. (i) Effective as of the Closing Distribution Date ITC Enexus shall have established a health and dependent care reimbursement account plan (the “ITC Enexus Reimbursement Account Plan”) with features substantially similar to those contained in the Entergy Corporation Companies Benefits Plus Reimbursement Plan (or any successor thereto) as in effect maintained by Entergy for the benefit of Enexus Participants immediately prior to the Closing Distribution Date (the “Entergy Reimbursement Account Plan”). ITC Entergy shall retain the responsibility for administering under the Entergy Reimbursement Account Plan all reimbursement claims of Entergy Participants with respect to calendar year 2008 arising before, on, or after the Distribution Date. With respect to Enexus Participants, Enexus shall assume responsibility for administering under the ITC Enexus Reimbursement Account Plan all reimbursement claims of TransCo Employees Enexus Participants with respect to calendar year 2008 not yet processed as of the period Distribution Date, whether arising before, on and on, or after the Closing Distribution Date. No more than forty-five (45) days following the Closing Distribution Date (or such later time as mutually agreed by Entergy and ITCthe Parties), (A) Entergy shall cause to be transferred to ITC Enexus an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of all contributions to the Entergy Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) 2008 by or on behalf of any TransCo Employee Enexus Participant prior to the Closing Distribution Date over the amount previously distributed to the TransCo Employees Enexus Participants for 2008 under the Entergy Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year)Plan, and (B) ITC Enexus shall cause to be transferred to Entergy an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of the amount previously distributed to the TransCo Employees Enexus Participants for 2008 under the Entergy Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year)over over all contributions to the Entergy Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) 2008 by or on behalf of any TransCo Employee Enexus Participant prior to the Closing Distribution Date. (ii) Effective as of the Distribution Date, and subject to applicable collective bargaining agreements and statutory bargaining obligations, EquaGen shall have established a health and dependent care reimbursement account plan (the “EquaGen Reimbursement Account Plan”) with features substantially similar to those contained in the Entergy Reimbursement Account Plan. With respect to EquaGen Participants, EquaGen shall assume responsibility for administering under the EquaGen Reimbursement Account Plan all reimbursement claims of EquaGen Participants with respect to calendar year 2008 not yet processed as of the Distribution Date, whether arising before, on, or after the Distribution Date. No more than forty-five (45) days following the Distribution Date (or such later time as mutually agreed by the Parties), (A) Entergy shall cause to be transferred to EquaGen an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of all contributions to the Entergy Reimbursement Account Plan made with respect to calendar year 2008 by or on behalf of any EquaGen Participant prior to the Distribution Date over the amount previously distributed to the EquaGen Participants for 2008 under the Entergy Reimbursement Account Plan, and (B) EquaGen shall cause to be transferred to Entergy an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of the amount previously distributed to the EquaGen Participants for 2008 under the Entergy Reimbursement Account Plan over all contributions to the Entergy Reimbursement Account Plan made with respect to calendar year 2008 by or on behalf of any EquaGen Participant prior to the Distribution Date.

Reimbursement Account Plans. Effective as of the Closing Date ITC Separation Date, NewCo shall have established a health and dependent care reimbursement account plan (the “ITC NewCo Reimbursement Account Plan”) with features substantially similar to those contained in the Entergy Corporation Companies Benefits Plus Reimbursement PPL Flexible Spending Account Plan (or any successor thereto) as in effect immediately prior to the Closing Separation Date (the “Entergy Parent Reimbursement Account Plan”). ITC NewCo shall assume responsibility for administering under the ITC NewCo Reimbursement Account Plan all reimbursement claims of TransCo Employees Energy Supply Reimbursement Account Participants with respect to the period before, on and after the Closing Separation Date. No more than forty-five (45) days following the Closing Separation Date (or such later time as mutually agreed by Entergy Parent and ITCNewCo), (A) Entergy Parent shall cause to be transferred to ITC NewCo an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of all contributions to the Entergy Parent Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee Energy Supply Reimbursement Account Participants prior to the Closing Separation Date over the amount previously distributed to the TransCo Employees Energy Supply Reimbursement Account Participants under the Entergy Parent Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year), and (B) ITC NewCo shall cause to be transferred to Entergy Parent an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of the amount previously distributed to the TransCo Energy Supply Employees under the Entergy Parent Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year)over year) over all contributions to the Entergy Parent Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee Energy Supply Reimbursement Account Participants prior to the Closing Separation Date.

Reimbursement Account Plans. Effective as of the Closing Date ITC shall have established a health and dependent care reimbursement account plan (the “"ITC Reimbursement Account Plan”") with features substantially similar to those contained in the Entergy Corporation Companies Benefits Plus Reimbursement Plan (or any successor thereto) as in effect immediately prior to the Closing Date (the “"Entergy Reimbursement Account Plan”"). ITC shall assume responsibility for administering under the ITC Reimbursement Account Plan all reimbursement claims of TransCo Employees with respect to the period before, on and after the Closing Date. No more than forty-five (45) days following the Closing Date (or such later time as mutually agreed by Entergy and ITC), (A) Entergy shall cause to be transferred to ITC an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of all contributions to the Entergy Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee prior to the Closing Date over the amount previously distributed to the TransCo Employees under the Entergy Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year), and (B) ITC shall cause to be transferred to Entergy an amount in cash, cash-like securities or other cash equivalents equal to the excess, if any, of the amount previously distributed to the TransCo Employees under the Entergy Reimbursement Account Plan for the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year)over all contributions to the Entergy Reimbursement Account Plan made with respect to the calendar year in which the Closing occurs (and, if the transfer occurs in any calendar year before April 1, the preceding calendar year) by or on behalf of any TransCo Employee prior to the Closing Date.