Short and Long Term Disability. Effective as of the Closing Date, Buyer shall have in effect short- and long-term disability plans for the benefit of Continued Employees, the cost of which to Continued Employees shall be the same as under, and the terms of which are identical in all material respects to, Seller's applicable plans as in effect as of the Closing Date. Any and all waiting periods and pre-existing condition clauses shall be waived under Buyer's short- and long-term disability plans with respect to Continued Employees.
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Samples: Agreement (Orion Power Holdings Inc), Asset Purchase and Sale Agreement (NRG Energy Inc), Asset Purchase and Sale Agreement (Consolidated Edison Co of New York Inc)
Short and Long Term Disability. Effective as of the Closing Date, Buyer shall have in effect short- and long-term disability plans for the benefit of Continued Employees, the cost of which to Continued Employees shall be the same as under, and the terms of which are identical in all material respects to, Seller's applicable plans as in effect as of the Closing Date. Any and all waiting periods and pre-existing condition clauses shall be waived under Buyer's short- short-and long-term disability plans with respect to Continued Employees.
Appears in 2 contracts
Samples: Turbine Asset Purchase and Sale Agreement (Consolidated Edison Co of New York Inc), Asset Purchase and Sale Agreement (Marketspan Corp)
Short and Long Term Disability. Effective as of the Closing Date, Buyer shall have in effect short- short-and long-term disability plans for the benefit of Continued Employees, the cost of which to Continued Employees shall be the same as under, and the terms of which are identical in all material respects to, Seller's applicable plans as in effect as of the Closing Date. Any and all waiting periods and pre-existing condition clauses shall be waived under Buyer's short- and long-term disability plans with respect to Continued Employees.
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