Common use of Retention of Sponsorship and Liabilities Clause in Contracts

Retention of Sponsorship and Liabilities. Following the Mandatory Exchange Effective Time, IAC shall retain: (a) sponsorship of all IAC Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any assets held as of the Mandatory Exchange Effective Time with respect to such plans; and (b) all Liabilities under the IAC Health and Welfare Plans, subject to the obligations of Match described in Section 4.1. IAC shall not assume any Liability under any Match Health and Welfare Plan, and all such claims shall be satisfied pursuant to Section 4.2(a).

Retention of Sponsorship and Liabilities. Following the Mandatory Exchange Effective Time, IAC shall retain: (a) sponsorship of all IAC Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any assets held as of the Mandatory Exchange Effective Time with respect to such plans; and (b) all Liabilities under the IAC Health and Welfare Plans, subject to the obligations of Match described in Section 4.1. IAC shall not assume any Liability under any Match Health and Welfare Plan, and all such claims shall be satisfied pursuant to Section 4.2(a).

Retention of Sponsorship and Liabilities. Following the Mandatory Exchange Effective Time, IAC shall retain: (a) sponsorship of all IAC Health and Welfare Plans and any trust or other funding arrangement established or maintained with respect to such plans, including any assets held as of the Mandatory Exchange Effective Time with respect to such plans; and (b) all Liabilities under the IAC Health and Welfare Plans, subject to the obligations of Match SpinCo described in Section 4.1. IAC shall not assume any Liability under any Match SpinCo Health and Welfare Plan, and all such claims shall be satisfied pursuant to Section 4.2(a).