Common use of U.S. COBRA and HIPAA Clause in Contracts

U.S. COBRA and HIPAA. The KAR Group shall continue to be responsible for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the KAR Welfare Plans with respect to any KAR Group Employees and any Former KAR Group Employees (and their covered dependents) who incur a qualifying event under COBRA before, as of, or after the Effective Time. Effective as of the Effective Time, the SpinCo Group shall assume responsibility for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the SpinCo Welfare Plans with respect to any SpinCo Group Employees or Former SpinCo Group Employees (and their covered dependents) who incur a qualifying event or loss of coverage under the KAR Welfare Plans and/or the SpinCo Welfare Plans before, as of, or after the Effective Time. The Parties agree that the consummation of the transactions contemplated by the Separation and Distribution Agreement shall not constitute a COBRA qualifying event for any purpose of COBRA.

U.S. COBRA and HIPAA. The KAR AWI Group shall continue to be responsible for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the KAR AWI Welfare Plans with respect to any KAR AWI Group Employees and any Former KAR AWI Group Employees (and their covered dependents) who incur a qualifying event under COBRA before, as of, or after the Effective Time. Effective as of the Effective Time, the SpinCo AFI Group shall assume responsibility for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the SpinCo AFI Welfare Plans with respect to any SpinCo AFI Group Employees or Former SpinCo AFI Group Employees (and their covered dependents) who incur a qualifying event or loss of coverage under the KAR AWI Welfare Plans and/or the SpinCo AFI Welfare Plans before, as of, or after the Effective Time. The Parties agree that the consummation of the transactions contemplated by the Separation and Distribution Agreement shall not constitute a COBRA qualifying event for any purpose of COBRA.

U.S. COBRA and HIPAA. The KAR NCR Group shall continue to be responsible for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, COBRA and the corresponding provisions of the KAR NCR Welfare Plans with respect to any KAR NCR Group Employees (and their covered dependents) and any Former KAR NCR Group Employees (and their covered dependents) who incur a qualifying event under COBRA before, as of, or after the Effective TimeDistribution. Effective as of the Effective TimeJanuary 1, 2024, the SpinCo ATMCo Group shall assume responsibility for complying with, and providing coverage pursuant to, the health care continuation requirements of COBRA, the certificate of creditable coverage requirements of HIPAA, and the corresponding provisions of the SpinCo ATMCo Welfare Plans with respect to any SpinCo ATMCo Group Employees or Former SpinCo ATMCo Group Employees (and their covered dependents) who incur a qualifying event or loss of coverage under the KAR NCR Welfare Plans and/or the SpinCo ATMCo Welfare Plans before, as of, or after the Effective TimeDistribution. The Parties agree that the consummation of the transactions contemplated by the Separation and Distribution Agreement SDA shall not constitute a COBRA qualifying event for any purpose of COBRA.