COBRA Liability definition

COBRA Liability means all Liabilities arising under COBRA (i) in respect of any Business Employee (or any beneficiary or dependent thereof) who does not become a Transitioned Employee, and (ii) arising on or prior to the Closing Date, with respect to any Transitioned Employee (or any beneficiary or dependent thereof).
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COBRA Liability means any Liability arising under COBRA in respect of any current or former employee, director, officer or consultant providing services to or for the benefit of Seller or is Affiliates (or any beneficiary or dependent of the foregoing), in any case, who does not become a Transferred Employee.
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COBRA Liability means all Liabilities arising under COBRA (i) in respect of any Business Employee (or any beneficiary or dependent thereof) who does not become a Transitioned Employee, and (ii)arising on or prior to the Closing Date, with respect to any Transitioned Employee (or any beneficiary or dependent thereof).
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Examples of COBRA Liability in a sentence

  • Sellers will have no COBRA Liability to such current and former employees after the Closing Date, except with respect to any violations of Law that occurred prior to the Closing Date.

  • An amount equal to the maximum potential COBRA Liability ($50,000) shall be withheld from the Purchase Price referred to in Section 2.2.1 above and shall be placed in escrow pursuant to Section 6.7 above and expended or released as provided therein.

  • The Stockholders agree that they and each of them will be responsible for the amount, if any, by which Reimbursement Costs (as defined herein) exceed Health Premiums (as defined herein); provided, however, that in no event shall the aggregate liability expressed by the foregoing formula exceed the sum of Fifty Thousand Dollars ($50,000) (the "COBRA Liability").

  • The exclusive remedy for COBRA Liability is as set forth in Section 7.03(c).

  • The experimental setup has been described in details previously11, 23.

  • Further, we will delve into other pertinent and complex regulations to give participants a fundamental understanding on how to navigate and apply these regulations compliantly within their organization.This session focuses on the intent and purpose behind, Wage and Hour, ADAAA and FMLA and will cover the basic interpretations and practical applications of the law.

  • For avoidance of doubt, the Buyer will not have any COBRA Liability or obligations to provide or administer COBRA to any Company Employee and their dependents for qualifying events that occur before the Closing Date.


More Definitions of COBRA Liability

COBRA Liability means all Liabilities arising on or prior to the Closing Date under Section 4980B of the Code or Section 601 et seq. of ERISA with respect to any current or former employees of any Seller and/or any beneficiaries or dependents thereof.
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Related to COBRA Liability

  • COBRA Coverage means continuation coverage required under Section 4980B of the Code and Part 6 of Title I of ERISA.

  • COBRA means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.

  • COBRA Continuation Coverage means the health care benefit continuation coverage mandated by the Consolidated Omnibus Budget Reconciliation Act and similar provisions of state law.

  • COBRA Period means the period beginning on the Date of Termination and ending on the first anniversary thereof.

  • COBRA continuation provision means any of the following:

  • COBRA Continuation Period means the continuation period for medical and dental insurance to be provided under the terms of this Agreement which shall commence on the first day of the calendar month following the month in which the date of termination falls and generally shall continue for an 18 month period.

  • High Deductible Health Plan means a Health Plan as defined by 26 USC § 223(c)(2)(A) that also is a Qualified Health Plan.

  • Dependents means dependents as defined in the Internal Revenue Code and as claimed in the taxpayer's federal income tax return for the taxable year or which the taxpayer would have been permitted to claim had the taxpayer filed a federal income tax return.

  • Welfare Benefits means the types of benefits described in Section 3(1) of ERISA (whether or not covered by ERISA).

  • Welfare Plan means a “welfare plan” as defined in Section 3(1) of ERISA.

  • BRRD Liability means a liability in respect of which the relevant Write Down and Conversion Powers in the applicable Bail-in Legislation may be exercised.

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.

  • Health Plans means any and all individual and family health and hospitalization insurance and/or self-insurance plans, medical reimbursement plans, prescription drug plans, dental plans and other health and/or wellness plans.

  • Retiree Health Plan means an "employee welfare benefit plan" within the meaning of Section 3(1) of ERISA that provides benefits to individuals after termination of their employment, other than as required by Section 601 of ERISA.

  • Excluded Liability means any liability that is excluded under the Bail-In Legislation from the scope of any Bail-In Action including, without limitation, any liability excluded pursuant to Article 44 of the Bank Recovery and Resolution Directive.

  • SpinCo Liabilities shall have the meaning set forth in Section 2.3(a).

  • Third Party Liability means both of the following:

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • Retiree means any person who has begun accruing a retirement

  • Controlled Group Liability means any and all liabilities (i) under Title IV of ERISA, (ii) under Section 302 of ERISA, (iii) under Sections 412 and 4971 of the Code, (iv) as a result of a failure to comply with the continuation coverage requirements of Section 601 et seq. of ERISA and Section 4980B of the Code, and (v) under corresponding or similar provisions of foreign laws or regulations.

  • Welfare Plans shall have the meaning set forth in Section 3.2.4.

  • Welfare Benefit Plan means each welfare benefit plan maintained or contributed to by the Company, including, but not limited to a plan that provides health (including medical and dental), life, accident or disability benefits or insurance, or similar coverage, in which Executive was participating at the time of the Change in Control.

  • Health benefit plan means a policy, contract, certificate or agreement offered or issued by a health carrier to provide, deliver, arrange for, pay for or reimburse any of the costs of health care services.

  • Group health benefit plan means any health care plan, subscription contract, evidence of

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Indemnifiable Damages shall have the meaning set forth in Section 9.1 herein.