Common use of Retention of Sponsorship and Liabilities Clause in Contracts

Retention of Sponsorship and Liabilities. As of immediately prior to the Transition Date, Parent shall retain: (i) sponsorship of all Parent Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any "voluntary employee's beneficiary association", or any assets held as of the Transition Date with respect to such plans; (ii) all Liabilities relating to, arising out of, or resulting from health and welfare coverage or claims incurred by or on behalf of Parent Employees, Former Parent Employees, Xxxxx Xxxxxxx Employees and Former Xxxxx Xxxxxxx Employees, or their covered dependents under the Parent Health and Welfare Plans on or before the Transition Date; and (iii) except as provided in Section 4.1(c), all Liabilities relating to health and welfare coverage or claims incurred by or on behalf of Parent Employees, Former Parent Employees and Former Xxxxx Xxxxxxx Employees or their covered dependents on or after the Transition Date under the Parent Health and Welfare Plans. Except as provided in Section 4.1(c), Parent shall not assume any Liability relating to health and welfare claims incurred by or on behalf of Xxxxx Xxxxxxx Employees or their covered dependents on or after the Transition Date, and such claims shall be satisfied pursuant to Section 4.1(a). Except as provided in Section 4.1(c), a claim or Liability (1) for medical, dental, vision and/or prescription drug benefits shall be deemed to be incurred upon the rendering of health services giving rise to the obligation to pay such benefits; (2) for life insurance and accidental death and dismemberment and business travel accident insurance benefits and workers' compensation benefits shall be deemed to be incurred upon the occurrence of the event giving rise to the entitlement to such benefits; (3) for salary continuation or other disability benefits shall be deemed to be incurred upon the effective date of an individual's disability giving rise to the entitlement to such benefits; and (4) for a period of continuous hospitalization shall be deemed to be incurred on the date of admission to the hospital.

Retention of Sponsorship and Liabilities. As of immediately prior to Following the Transition Distribution Date, Parent IAC shall retain: (ia) sponsorship of all Parent IAC Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any "“voluntary employee's ’s beneficiary association", ,” or any assets held as of the Transition Distribution Date with respect to such plans;; and (iib) all Liabilities relating to, arising out of, or resulting from health and welfare coverage or claims incurred by or on behalf of Parent Employees, IAC Employees or Former Parent Employees, Xxxxx Xxxxxxx IAC Employees and Former Xxxxx Xxxxxxx Employees, or their covered dependents under the Parent IAC Health and Welfare Plans on or before the Transition Date; and (iii) except as provided in Section 4.1(c)prior to, all Liabilities relating to health and welfare coverage or claims incurred by or on behalf of Parent Employees, Former Parent Employees and Former Xxxxx Xxxxxxx Employees or their covered dependents on or after the Distribution Date. Other than as contemplated by Section 4.1 with respect to the H&W Transition Date under the Parent Health and Welfare Plans. Except as provided in Section 4.1(c)Period, Parent IAC shall not assume any Liability relating to health and welfare claims incurred by or on behalf of Xxxxx Xxxxxxx SpinCo Employees or Former SpinCo Employees or their respective covered dependents prior to, on or after the Transition Distribution Date, and such claims shall be satisfied pursuant to Section 4.1(a)4.2. Except as provided in Section 4.1(c)For purposes of Sections 4.2 and 4.3 of this Agreement, a claim or Liability (1) for medical, dental, vision and/or prescription drug benefits shall be deemed to be incurred upon the rendering of health services giving rise to the obligation to pay such benefits; (2) for life insurance and accidental death and dismemberment and business travel accident insurance benefits and workers' ’ compensation benefits shall be deemed to be incurred upon the occurrence of the event giving rise to the entitlement to such benefits; (3) for salary continuation or other disability benefits shall be deemed to be incurred upon the effective date of an individual's ’s disability giving rise to the entitlement to such benefitsbenefits under the applicable disability policy; and (4) for a period of continuous hospitalization shall be deemed to be incurred on the date of admission to the hospital.

Retention of Sponsorship and Liabilities. As Except as expressly provided in Schedule VII hereto, or as required by applicable law, as of immediately prior to the Transition DateEffective Time, Parent NCR shall retain: (i) sponsorship of all Parent NCR Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any "voluntary employee's beneficiary association", plans or any assets Assets held as of the Transition Date Effective Time with respect to such plans; (ii) all Liabilities relating to, arising out of, or resulting from health and welfare coverage or claims incurred by or on behalf of Parent NCR Employees, Former Parent NCR Employees, Xxxxx Xxxxxxx Teradata Employees and Former Xxxxx Xxxxxxx Teradata Employees, or their covered dependents under the Parent NCR Health and Welfare Plans on or before the Transition DateEffective Time; and (iii) except as provided in Section 4.1(c), all Liabilities relating to health and welfare coverage or claims incurred by or on behalf of Parent NCR Employees, Former Parent NCR Employees and Former Xxxxx Xxxxxxx Teradata Employees or their covered dependents on or after the Transition Date Effective Time under the Parent NCR Health and Welfare Plans. Except as provided in this Section 4.1(c)4.1(b) or in Schedule VII hereto, Parent or as required by applicable law, NCR shall not assume any Liability relating to health and welfare claims incurred by or on behalf of Xxxxx Xxxxxxx Teradata Employees or their covered dependents on or after the Transition DateEffective Time, and such claims shall be satisfied pursuant to Section 4.1(a). Except as provided in Section 4.1(c), a claim or Liability (1) for medical, dental, vision and/or prescription drug benefits shall be deemed to be incurred upon the rendering of health services or provision of products giving rise to the obligation to pay such benefits; (2) for life insurance and accidental death and dismemberment and business travel accident insurance benefits and workers' ’ compensation benefits shall be deemed to be incurred upon the occurrence of the event giving rise to the entitlement to such benefits; (3) for salary continuation or other disability benefits shall be deemed to be incurred upon the effective date of an individual's ’s disability giving rise to the entitlement to such benefits; and (4) for a period of continuous hospitalization shall be deemed to be incurred on the date of admission to the hospital.

Retention of Sponsorship and Liabilities. As Except as expressly provided in Schedule VII hereto, or as required by applicable law, as of immediately prior to the Transition DateEffective Time, Parent NCR shall retain: (i) sponsorship of all Parent NCR Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any "voluntary employee's beneficiary association", plans or any assets Assets held as of the Transition Date Effective Time with respect to such plans; (ii) all Liabilities relating to, arising out of, or resulting from health and welfare coverage or claims incurred by or on behalf of Parent NCR Employees, Former Parent NCR Employees, Xxxxx Xxxxxxx Teradata Employees and Former Xxxxx Xxxxxxx Teradata Employees, or their covered dependents under the Parent NCR Health and Welfare Plans on or before the Transition DateEffective Time; and (iii) except as provided in Section 4.1(c), all Liabilities relating to health and welfare coverage or claims incurred by or on behalf of Parent NCR Employees, Former Parent NCR Employees and Former Xxxxx Xxxxxxx Teradata Employees or their covered dependents on or after the Transition Date Effective Time under the Parent NCR Health and Welfare Plans. Except as provided in this Section 4.1(c)4.1(b) or in Schedule VII hereto, Parent or as required by applicable law, NCR shall not assume any Liability relating to health and welfare claims incurred by or on behalf of Xxxxx Xxxxxxx Teradata Employees or their covered dependents on or after the Transition DateEffective Time, and such claims shall be satisfied pursuant to Section 4.1(a). Except as provided in Section 4.1(c), a claim or Liability (1) for medical, dental, vision and/or prescription drug benefits shall be deemed to be incurred upon the rendering of health services or provision of products giving rise to the obligation to pay such benefits; (2) for life insurance and accidental death and dismemberment and business travel accident insurance benefits and workers' ’ compensation benefits shall be deemed to be incurred upon the occurrence of the event giving rise to the entitlement to such benefits; (3) for salary continuation or other disability benefits shall be deemed to be incurred upon the effective date of an individual's ’s disability giving rise to the entitlement to such benefits; and (4) for a period of continuous hospitalization shall be deemed to be incurred on the date of admission to the hospital.

Retention of Sponsorship and Liabilities. As of immediately prior to Following the Transition Distribution Date, Parent IAC shall retain: (ia) sponsorship of all Parent IAC Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any "“voluntary employee's ’s beneficiary association", ,” or any assets held as of the Transition Distribution Date with respect to such plans;; and (iib) all Liabilities relating to, arising out of, or resulting from health and welfare coverage or claims incurred by or on behalf of Parent Employees, IAC Employees or Former Parent Employees, Xxxxx Xxxxxxx IAC Employees and Former Xxxxx Xxxxxxx Employees, or their covered dependents under the Parent IAC Health and Welfare Plans on or before the Transition Date; and (iii) except as provided in Section 4.1(c)prior to, all Liabilities relating to health and welfare coverage or claims incurred by or on behalf of Parent Employees, Former Parent Employees and Former Xxxxx Xxxxxxx Employees or their covered dependents on or after the Distribution Date. Other than as contemplated by Section 4.1 with respect to the H&W Transition Date under the Parent Health and Welfare Plans. Except as provided in Section 4.1(c)Period, Parent IAC shall not assume any Liability relating to health and welfare claims incurred by or on behalf of Xxxxx Xxxxxxx SpinCo Employees or Former SpinCo Employees or their respective covered dependents prior to, on or after the Transition Distribution Date, and such claims shall be satisfied pursuant to Section 4.1(a)4.2. Except as provided in Section 4.1(c)For purposes of Sections 4.2 and 4.3 of this Agreement, a claim or Liability (1) for medical, dental, vision and/or prescription drug benefits shall be deemed to be incurred upon the rendering of health services giving rise to the obligation to pay such benefits; (2) for life insurance and accidental death and dismemberment and business travel accident insurance benefits and workers' compensation benefits shall be deemed to be incurred upon the occurrence of the event giving rise to the entitlement to such benefits; (3) for salary continuation or other disability benefits shall be deemed to be incurred upon the effective date of an individual's ’s disability giving rise to the entitlement to such benefitsbenefits under the applicable disability policy; and (4) for a period of continuous hospitalization shall be deemed to be incurred on the date of admission to the hospital.