Common use of VEBA Asset Allocations and Transfers Clause in Contracts

VEBA Asset Allocations and Transfers. The portion of the Duke Energy VEBA assets that shall be allocated to the Spectra Energy VEBA shall be determined as provided in Schedule E attached hereto. As soon as reasonably practicable after such determination, the amount of the Duke Energy VEBA assets allocated to the Spectra Energy VEBA in accordance with the preceding sentence shall be transferred (in cash or in-kind, as determined by Duke Energy in its discretion) to the Spectra Energy VEBA.

Appears in 3 contracts

Samples: Employee Matters Agreement (Spectra Energy Corp.), Employee Matters Agreement (Spectra Energy Corp.), Employee Matters Agreement (Duke Energy CORP)

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VEBA Asset Allocations and Transfers. The portion of the Duke Energy VEBA assets that shall be allocated to the Spectra Energy GasCo VEBA shall be determined as provided in Schedule E attached hereto. As soon as reasonably practicable after such determination, the amount of the Duke Energy VEBA assets allocated to the Spectra Energy GasCo VEBA in accordance with the preceding sentence shall be transferred (in cash or in-kind, as determined by Duke Energy in its discretion) to the Spectra Energy GasCo VEBA.

Appears in 1 contract

Samples: Employee Matters Agreement (Spectra Energy Corp.)

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