Rollover of Account Balances. As soon as practicable after the Effective Time, UTC, Carrier and Otis shall take any and all actions as may be required to permit each Carrier Group Employee and Otis Group Employee to elect to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 402(c)(4) of the Code if applicable) in cash in an amount equal to the entire eligible rollover distribution distributable to such Carrier Group Employee and Otis Group Employee from the UTC Savings Plans to Carrier Savings Plan and Otis Savings Plans, respectively.
Rollover of Account Balances. As soon as practicable after the Distribution Date, Pluto and Spinco shall take any and all actions as may be required to permit each Spinco Employee to elect to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 402(c)(4) of the Code) in cash or loan notes in an amount equal to the entire eligible rollover distribution distributable to such Spinco Employee from the Pluto Savings Plan to Spinco Savings Plan.
Rollover of Account Balances. Varex Employees shall be eligible to participate in the Varex 401(k) Plan as of no later than the Effective Time to the extent that they were eligible to participate in the Parent 401(k) Plan as of immediately prior to the Effective Time. As soon as reasonably practicable following the Distribution Date, Varex shall permit each Varex Employee to make contributions of “eligible rollover distributions” (within the meaning of Section 401(a)(31) of the Code) in the form of cash (or, in the case of loans, notes) in an amount equal to the full account balance distributable to such Varex Employee from the Parent 401(k) Plan to the Varex 401(k) Plan.
Rollover of Account Balances. As soon as practical after the Effective Time, Encompass and Enhabit shall take any and all actions as may be required to permit each Enhabit Group Employee who has an account balance in the Encompass 401(k) Plan to elect to make rollover contributions of “eligible rollover distributions” (within the meaning of Section 402(c)(4) of the Code if applicable) in an amount equal to the entire eligible rollover distribution distributable to such Enhabit Group Employee from the Encompass 401(k) Plan to the Enhabit 401(k) Plan. Such transfer shall be made in cash.
Rollover of Account Balances. As soon as practicable after the Distribution Date, Spinco shall take any and all actions as may be required to permit each Spinco Employee to elect to make rollover contributions in cash or loan notes in an amount equal to the entire eligible rollover distribution distributable to such Spinco Employee from the Puerto Rico Savings Plan to a plan designated by Spinco and permitted pursuant to the terms of the Puerto Rico Savings Plan or applicable Law.
Rollover of Account Balances. In accordance with the terms of the applicable plan, each Transferred Employee shall be eligible to participate in a defined contribution plan intended to qualify under Sections 401(a) and 401(k) of the Code sponsored or maintained by Comcast or its Affiliates (the “Comcast 401(k) Plan”). Comcast or its Affiliates shall take all actions reasonably necessary to permit, beginning as soon as reasonably practical following the Closing Date, each Transferred Employee who has received an eligible rollover distribution (as defined in Section 402(c)(4) of the Code) from the Insight 401(k) Plan to roll over the distribution to an account in the Comcast 401(k) Plan; provided that any Transferred Employee with less than six months of service with Insight or any of its Affiliates immediately prior to the Closing Date will only become a participant in the Comcast 401(k) Plan after completing six months of combined continuous service with Insight or any of its Affiliates and Comcast and any of its Affiliates (without duplication). To the extent that the rollover of loans is permitted under the Insight 401(k) Plan, rollovers of outstanding loans under such plan will be permitted, but only to the extent that the terms of the loans comply with the terms and conditions of the Comcast 401(k)
