Common use of Seller’s Plans Clause in Contracts

Seller’s Plans. Seller shall remain solely responsible for liabilities for any claims incurred under the health insurance plans of Seller and its Affiliates by any Transitioning Employees and his or her eligible dependents through the end of the month in which the Closing occurs, and, if the Closing occurs in November 2013, Seller shall continue, through December 31, 2013, to provide health insurance under the health insurance plans of Seller and its Affiliates to the Transitioning Employees and their eligible dependents and, no later than five Business Days following receipt of a written invoice therefor, Purchaser shall reimburse Seller for 102% of the December 2013 health insurance premiums corresponding to such Transitioning Employees. From and after the Closing, Seller shall remain solely responsible for liabilities for claims of the Transitioning Employees and their eligible dependents incurred prior to the Closing under those plans that are disability, accident or life insurance plans, and Purchaser shall be solely responsible for all such liabilities for claims incurred by any Transitioning Employee or his or her eligible dependents after the Closing, except as noted in the immediately preceding sentence. If (i) the Closing occurs in a month other than November, 2013, then from and after the first day of the month following the month in which the Closing occurs, Purchaser shall be solely responsible for all liabilities for any claims incurred under the health insurance plans of Purchaser and its Affiliates incurred by any Transitioning Employee or his or her eligible dependents on or after the first day of the month following the month in which the Closing occurs. If Closing occurs in November 2013, then, from and after January 1, 2014, Purchaser shall be solely responsible for all liabilities for any claims incurred under the health insurance plans of Purchaser and its Affiliates incurred by any Transitioning Employee or his or her eligible dependents on or after January 1, 2014. For the purposes of this Section 17.3, a claim for health benefits shall be deemed to have been incurred when the services that are the subject of such claim are rendered and a claim for disability, accident or life insurance shall be deemed to have been incurred when the last event giving rise to such claim occurs. This Section 17.3(a) shall not be construed to require Purchaser to provide health, disability, accident or life insurance plans that are the same or similar to plans that Seller currently provides to the Timberland Employees.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Plum Creek Timber Co Inc), Limited Liability Company Agreement (MEADWESTVACO Corp)

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Seller’s Plans. Seller shall remain solely responsible provide Buyer with necessary base "design build" drawings, specifications, and CAD diskettes (to the extent available) for liabilities the Buildings no later than July 1, 1998 ("Seller's Plans"). Seller's Plans shall be substantially in accordance with the plans described on Schedule 1 (which have been approved by Buyer), together with and including the specifications described for the Improvements in Paragraph 2 of this Work Letter, but shall specifically exclude any claims incurred under improvements to the health insurance plans of Seller and its Affiliates by any Transitioning Employees and his or her eligible dependents through the end interior of the month Building, or items noted in which Paragraph 3 as specific exclusions from the Closing occursImprovements. Seller shall have the right to change Seller's Plans after submission to Buyer as needed to satisfy any requirements of the City of Sunnyvale; provided, and, if the Closing occurs in November 2013however, Seller shall continueprovide Buyer prior written notice of any such changes and notice of meetings with the City of Sunnyvale to be attended by Buyer, through December 31, 2013, which Seller shall be entitled to provide health insurance under the health insurance plans of Seller and its Affiliates attend. Any additional time required to accommodate Buyer's involvement in such meetings shall constitute a Buyer Delay pursuant to Section 7 below to the Transitioning Employees and their eligible dependents andextent it actually delays construction. Excepting changes required by the City of Sunnyvale, no later than five Business Days following receipt of a written invoice therefor, Purchaser shall reimburse Seller for 102% of the December 2013 health insurance premiums corresponding to such Transitioning Employees. From and after the Closing, any changes in Seller's Plans initiated by Seller shall remain solely responsible for liabilities for claims be subject to Buyer's review and approval, which shall not be unreasonably withheld, conditioned or delayed. Buyer must notify Seller in writing of any disapproval with respect to any submitted plans and specification within three (3) business days, unless the Transitioning Employees revisions include new detailed mechanical, electrical and their eligible dependents incurred prior plumbing drawings or substantial revisions thereto, in which case, Buyer shall have five (5) business days to notify Seller in writing of any disapproval or unless the plans and specifications are the final complete set of plans and specifications which Seller intends to submit to the Closing under those plans that are disabilityapplicable authorities to obtain its building permit and other applicable governmental licenses, accident or life insurance plansin which case Buyer shall have seven (7) business days to notify Seller in writing of any disapproval. Any written notice containing Buyer's disapproval, and Purchaser shall be solely responsible also include the specific reasons for all such liabilities for claims incurred by any Transitioning Employee or his or her eligible dependents after the Closing, except as noted in the immediately preceding sentencedisapproval. If (i) Buyer fails to notify Seller of any disapproval within the Closing occurs in a month other than Novemberapplicable time periods provided above, 2013, then from and after the first day of the month following the month in which the Closing occurs, Purchaser shall be solely responsible for all liabilities for any claims incurred under the health insurance plans of Purchaser and its Affiliates incurred by any Transitioning Employee or his or her eligible dependents on or after the first day of the month following the month in which the Closing occurs. If Closing occurs in November 2013, then, from and after January 1, 2014, Purchaser shall be solely responsible for all liabilities for any claims incurred under the health insurance plans of Purchaser and its Affiliates incurred by any Transitioning Employee or his or her eligible dependents on or after January 1, 2014. For the purposes of this Section 17.3, a claim for health benefits Buyer shall be deemed to have been incurred when approved the services that are the subject of such claim are rendered submitted revised plans and a claim for disability, accident or life insurance shall be deemed to have been incurred when the last event giving rise to such claim occurs. This Section 17.3(a) shall not be construed to require Purchaser to provide health, disability, accident or life insurance plans that are the same or similar to plans that Seller currently provides to the Timberland Employeesspecifications.

Appears in 2 contracts

Samples: Agreement of Purchase and Sale, Agreement of Purchase and Sale (Network Appliance Inc)

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Seller’s Plans. Seller shall remain solely responsible provide Buyer with necessary base "design build" drawings, specifications, and CAD diskettes (to the extent available) for liabilities the Buildings no later than July 1, 1998 ("Seller's Plans"). Seller's Plans shall be substantially in accordance with the plans described on Schedule 1 (which have been approved by Buyer), together with and including the specifications described for the Improvements in Paragraph 2 of this Work Letter, but shall specifically exclude any claims incurred under improvements to the health insurance plans of Seller and its Affiliates by any Transitioning Employees and his or her eligible dependents through the end interior of the month Building, or items noted in which Paragraph 3 as specific exclusions from the Closing occursImprovements. Seller shall have the right to change Seller's Plans after submission to Buyer as needed to satisfy any requirements of the City of Sunnyvale; provided, and, if the Closing occurs in November 2013however, Seller shall continueprovide Buyer prior written notice of any such changes and notice of meetings with the City of Sunnyvale to be attended by Buyer, through December 31, 2013, which Seller shall be entitled to provide health insurance under the health insurance plans of Seller and its Affiliates attend. Any additional time required to accommodate Xxxxx's involvement in such meetings shall constitute a Buyer Delay pursuant to Section 7 below to the Transitioning Employees and their eligible dependents andextent it actually delays construction. Excepting changes required by the City of Sunnyvale, no later than five Business Days following receipt of a written invoice therefor, Purchaser shall reimburse Seller for 102% of the December 2013 health insurance premiums corresponding to such Transitioning Employees. From and after the Closing, any changes in Seller's Plans initiated by Seller shall remain solely responsible for liabilities for claims be subject to Buyer's review and approval, which shall not be unreasonably withheld, conditioned or delayed. Buyer must notify Seller in writing of any disapproval with respect to any submitted plans and specification within three (3) business days, unless the Transitioning Employees revisions include new detailed mechanical, electrical and their eligible dependents incurred prior plumbing drawings or substantial revisions thereto, in which case, Buyer shall have five (5) business days to notify Seller in writing of any disapproval or unless the plans and specifications are the final complete set of plans and specifications which Seller intends to submit to the Closing under those plans that are disabilityapplicable authorities to obtain its building permit and other applicable governmental licenses, accident or life insurance plansin which case Buyer shall have seven (7) business days to notify Seller in writing of any disapproval. Any written notice containing Xxxxx's disapproval, and Purchaser shall be solely responsible also include the specific reasons for all such liabilities for claims incurred by any Transitioning Employee or his or her eligible dependents after the Closing, except as noted in the immediately preceding sentencedisapproval. If (i) Buyer fails to notify Seller of any disapproval within the Closing occurs in a month other than Novemberapplicable time periods provided above, 2013, then from and after the first day of the month following the month in which the Closing occurs, Purchaser shall be solely responsible for all liabilities for any claims incurred under the health insurance plans of Purchaser and its Affiliates incurred by any Transitioning Employee or his or her eligible dependents on or after the first day of the month following the month in which the Closing occurs. If Closing occurs in November 2013, then, from and after January 1, 2014, Purchaser shall be solely responsible for all liabilities for any claims incurred under the health insurance plans of Purchaser and its Affiliates incurred by any Transitioning Employee or his or her eligible dependents on or after January 1, 2014. For the purposes of this Section 17.3, a claim for health benefits Buyer shall be deemed to have been incurred when approved the services that are the subject of such claim are rendered submitted revised plans and a claim for disability, accident or life insurance shall be deemed to have been incurred when the last event giving rise to such claim occurs. This Section 17.3(a) shall not be construed to require Purchaser to provide health, disability, accident or life insurance plans that are the same or similar to plans that Seller currently provides to the Timberland Employeesspecifications.

Appears in 1 contract

Samples: Agreement of Purchase and Sale

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