Common use of Transfer of Account Balances Clause in Contracts

Transfer of Account Balances. As soon as practicable after the Distribution Date, Baxter shall cause the trustee of the Baxter IIP to transfer from the trust(s) which forms a part of the Baxter IIP to the trust(s) which forms a part of the Baxalta IIP amounts equal to the account balances of the Transferred Employees (including account balances in respect of beneficiaries and alternate payees established in relation to such individuals) under the Baxter IIP, determined as of the date of the transfer. Such transfers shall be made in cash, Baxter Common Shares, shares of Baxalta Common Stock, promissory notes evidencing outstanding loans and other Assets (including common shares of Xxxxxxx Lifesciences or Cardinal Health, Inc.) or any combination thereof in cash or in kind, as instructed by the Baxter IIP or the investment committee thereof. Baxalta shall cause the transferred amounts to be allocated among the Transferred Employees’ (and beneficiaries’ and/or alternate payees’, as applicable) Baxalta IIP accounts and to be allocated to the same investment funds as the accounts were allocated under the Baxter IIP to the extent that such investment funds are available under the Baxalta IIP and, to the extent such investment funds are not available, in the manner determined by the fiduciaries of the Baxalta IIP. Any Asset and Liability transfers pursuant to this Section 3.02 shall comply in all respects with Code Sections 414(l) and 411(d)(6).

Transfer of Account Balances. As soon as practicable after the Distribution Date, Baxter Abbott shall cause the trustee of the Baxter IIP Abbott SRP to transfer from the trust(s) which forms a part of the Baxter IIP Abbott SRP to the trust(s) which forms a part of the Baxalta IIP AbbVie Savings Plan amounts equal to the account balances of the Transferred Employees and the AbbVie LTD Participants (including account balances in respect of beneficiaries and alternate payees established in relation to such individuals) under the Baxter IIPAbbott SRP, determined as of the date of the transfer. Such transfers shall be made in cash, Baxter Abbott Common Shares, shares of Baxalta AbbVie Common Stock, promissory notes evidencing outstanding loans and other Assets (including common shares of Xxxxxxx Lifesciences or Cardinal Health, Inc.) or any combination thereof in cash or in kind, as instructed by the Baxter IIP or the investment committee thereofAbbott SRP Investment Committee. Baxalta AbbVie shall cause the transferred amounts to be allocated among the Transferred Employees’ and AbbVie LTD Participants’ (and beneficiaries’ and/or alternate payees’, as applicable) Baxalta IIP AbbVie Savings Plan accounts and to be allocated to such investment funds in the same investment funds as the accounts manner in which those amounts were allocated under the Baxter IIP to the extent that such investment funds are available under the Baxalta IIP and, to the extent such investment funds are not available, in the manner determined by the fiduciaries of the Baxalta IIPAbbott SRP. Any Asset and Liability transfers pursuant to this Section 3.02 3.03 shall comply in all respects with Code Sections 414(l) and 411(d)(6).