Common use of Terms of Participation in Spinco Welfare Plans Clause in Contracts

Terms of Participation in Spinco Welfare Plans. From and after the Interim Transfer Date, SpinCo has caused and shall continue to cause the SpinCo Welfare Plans to (i) waive all limitations as to preexisting conditions, exclusions, service conditions and waiting period limitations, and any evidence of insurability requirements applicable to any such Transferred Employees and SpinCo Dependents other than such limitations, exclusions, and conditions that were in effect with respect to Transferred Employees and SpinCo Dependents as of the Interim Transfer Date, in each case under and in accordance with the terms of the corresponding Parent Welfare Plans and (ii) honor any deductibles, out-of-pocket maximums and co-payments incurred by Transferred Employees and SpinCo Dependents under and in accordance with the terms of the corresponding Parent Welfare Plans in satisfying the applicable deductibles, out-of-pocket expenses or co-payments under such Parent Welfare Plans for the calendar year in which the Effective Time occurs. SpinCo has caused and shall continue to cause the SpinCo Welfare Plans to recognize and maintain all existing elections, including, but not limited to, beneficiary designations, as were in effect under the corresponding Parent Welfare Plans, unless and until changed or modified in accordance with the terms of the applicable plan or otherwise in accordance with applicable law. To the extent applicable, the provisions of this Section 6.2(b) shall also apply to SpinCo Dependents. From the Interim Transfer Date, Parent shall cooperate with SpinCo to provide any reasonably requested information regarding such administrative matters, to the extent permitted by applicable Law.

Terms of Participation in Spinco Welfare Plans. From and after the Interim Transfer Date, SpinCo has caused and shall continue to cause the SpinCo Welfare Plans to (i) waive all limitations as to preexisting conditions, exclusions, service conditions and waiting period limitations, and any evidence of insurability requirements applicable to any such Transferred Employees and SpinCo Dependents other than such limitations, exclusions, exclusions and conditions that were in effect with respect to Transferred Employees and SpinCo Dependents as of the Interim Transfer Date, in each case under and in accordance with the terms of the corresponding Parent Welfare Plans and (ii) honor any deductibles, out-of-pocket maximums and co-payments incurred by Transferred Employees and SpinCo Dependents under and in accordance with the terms of the corresponding Parent Welfare Plans in satisfying the applicable deductibles, out-of-pocket expenses or co-payments under such Parent Welfare Plans for the calendar year in which the Effective Time occurs. SpinCo has caused and shall continue to cause the SpinCo Welfare Plans to recognize and maintain all existing elections, including, but not limited to, beneficiary designations, as were in effect under the corresponding Parent Welfare Plans, unless and until changed or modified in accordance with the terms of the applicable plan or otherwise in accordance with applicable law. To the extent applicable, the provisions of this Section 6.2(b) shall also apply to SpinCo Dependents. From the Interim Transfer Date, Parent shall cooperate with SpinCo to provide any reasonably requested information regarding such administrative matters, to the extent permitted by applicable Law.