COBRA Costs definition

COBRA Costs means any costs (other than any indirect costs relating to human resources management services) borne by the FE Non-Debtor Parties for compliance with COBRA under any group health plan of the FE Non-Debtor Parties related to a Debtors’ Current Employee or a Debtors’ Former Employee or a dependent of any such person.

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COBRA Costs means an amount in cash equal to the aggregate employer-side share of all premiums, administrative fees, excise taxes, penalties, assessments and any other costs that are reasonably anticipated to become due and payable, from and after the Effective Date through the latest date on which any Qualified Beneficiary (as such term is defined in Section 4980B of the Code and Sections 601-609 of ERISA) could elect or remain entitled to continuation coverage under any group health plan maintained by the Company or any person that would be treated as a single employer with the Company or part of the same “controlled group” as such Entity under Sections 414(b),(c),(m) or (o) of the Code with respect to any current or former employee (or any spouse, dependent or other qualified beneficiary thereof) whose qualifying event occurs on or prior to the Effective Date;

COBRA Costs means any costs (other than any indirect costs relating to Human Resources management services pursuant to the Amended SSA) borne by the FE Non-Debtor Parties for compliance with COBRA under any group health plan of the FE Non-Debtor Parties related to a Debtors' Current Employee or a Debtors' Former Employee or a dependent of either such person.

Examples of COBRA Costs in a sentence

• Notwithstanding the foregoing, BNED shall be obligated to reimburse B&N for the B&N COBRA Costs as provided in Section 13.01.

• Subject to the limitations of Section 4.05, Seller shall reimburse OIB Division for any administrative costs incurred by OIB Division in respect of the provision of COBRA benefits to any Transferred C Employee in excess of the premiums paid by such Transferred C Employee ("Buyer COBRA Costs") terminated after the Transition Period and during the 12 months following the Initial Closing Date.

• Notwithstanding the foregoing, SpinCo shall be obligated to reimburse HCMC for the HCMC COBRA Costs as provided in Section 12.01.

• Following the foregoing 18-month period, if the Employee secures an individual policy for health coverage for himself and, where applicable, his spouse and dependents, the Company will reimburse the Employee for the monthly cost of such coverage for the period commencing on the first day following the 18-month period and ending on the last day of the Non-Competition Period; provided that the amount of the Company’s reimbursement for any month during this period will not exceed the Monthly COBRA Costs.

• In the event Executive’s employment is terminated by the Executive for Good Reason specifically on the grounds of a Change in Control, the Company’s obligation herein to pay Executive salary continuation and COBRA Costs shall be accelerated and due and payable to Executive in full no later than 10 days following the consummation of the transaction constituting a Change in Control.