Common use of Transferred Non Clause in Contracts

Transferred Non. Union Employees shall be eligible to commence participation in welfare benefit plans of Buyer or its Affiliates as may be made available by Buyer (the "Replacement Welfare Plans"). Buyer shall (i) waive all limitations as to pre-existing condition exclusions and waiting periods with respect to the Transferred Non-Union Employees under the Replacement Welfare Plans, other than, but only to the extent of, limitations or waiting periods that were in effect with respect to such employees under the welfare plans maintained by Seller, Genco, GPUN or GPUS or their Affiliates and that have not been satisfied as of the Closing Date, and (ii) provide each Transferred Non-Union Employee with credit for any co-payments and deductibles paid prior to the Closing Date in satisfying any deductible or out-of-pocket requirements under the Replacement Welfare Plans (on a pro-rata basis in the event of a difference in plan years).

Appears in 2 contracts

Samples: Purchase and Sale Agreement (Pennsylvania Electric Co), Purchase and Sale Agreement (Pennsylvania Electric Co)

AutoNDA by SimpleDocs

Transferred Non. Union Employees shall be eligible to commence participation in welfare benefit plans of Buyer or 53 its Affiliates as may be made available by Buyer (the "Replacement Welfare Plans"). Buyer shall (i) waive all limitations as to pre-existing condition exclusions and waiting periods with respect to the Transferred Non-Union Employees under the Replacement Welfare Plans, other than, but only to the extent of, limitations or waiting periods that were in effect with respect to such employees under the welfare plans maintained by Seller, Genco, GPUN or GPUS or their Affiliates and that have not been satisfied as of the Closing Date, and (ii) provide each Transferred Non-Union Employee with credit for any co-payments and deductibles paid prior to the Closing Date in satisfying any deductible or out-of-pocket requirements under the Replacement Welfare Plans (on a pro-rata basis in the event of a difference in plan years).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pennsylvania Electric Co)

AutoNDA by SimpleDocs

Transferred Non. Union Employees shall be eligible to commence participation in welfare benefit plans of Buyer or its Affiliates as may be made available by Buyer (the "Replacement Welfare Plans"). Buyer shall (i) waive all limitations as to pre-existing condition exclusions and waiting periods with respect to the Transferred Non-Union Employees under the Replacement Welfare Plans, other than, but only to the extent of, limitations or waiting periods that were in effect with respect to such employees under the welfare plans maintained by SellerSellers, Genco, GPUN or GPUS or their Affiliates and that have not been satisfied as of the Closing Date, and (ii) provide each Transferred Non-Union Employee with credit for any co-payments copayments and deductibles paid prior to the Closing Date in satisfying any deductible or out-of-pocket requirements under the Replacement Welfare Plans (on a pro-rata basis in the event of a difference in plan years).

Appears in 1 contract

Samples: Purchase and Sale Agreement (Pennsylvania Electric Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!