Consolidated Omnibus Budget Reconciliation Act definition

Consolidated Omnibus Budget Reconciliation Act or "COBRA" means continuation coverage as administered under 42 U.S.C. Secs. 300bb-1 through 300bb-8.
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Consolidated Omnibus Budget Reconciliation Act means the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended.
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Consolidated Omnibus Budget Reconciliation Act or "COBRA" means the federal law administered by a governmental plan under Title XXII of the Public Health Service (PHS) Act, 42 U.S.C. 300bb-1 through 300bb-8.
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Examples of Consolidated Omnibus Budget Reconciliation Act in a sentence

  • If you are subject to an Involuntary Termination and you elect to continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) following your Separation, then the Company will pay your full monthly premium under COBRA for the 12 months following your Separation (12 months if the Involuntary Termination is in connection with a Change in Control).

  • If Employee wishes to continue healthcare insurance benefits coverage beyond such date at his own expense, Employee must timely elect such coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”).

  • Following the Initial Transition Date, Executive shall have the option to continue medical, dental and/or vision insurance coverage under the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).

  • If Executive timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company shall pay the full amount of Executive’s COBRA premiums on behalf of Executive for Executive’s continued coverage under the Company’s health, dental and vision plans, including coverage for Executive’s eligible dependents, for nine (9) months following the last date on which Executive was eligible for such coverage as an active employee of the Company.

  • In lieu of providing Executive with any premiums or insurance coverage under any continued healthcare benefits, including the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or applicable state law, or other similar benefits, Company will pay Executive, no later than ten (10) business days following the expiration of the Revocation Period, the lump sum amount of Fifty-Seven Thousand dollars ($57,000), approximating the value of such coverage for a 12-month period (the “Healthcare Consideration”).

  • In the event Executive elects to continue Company group medical, dental and/or vision benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), following termination, the Company will continue to contribute toward the cost of such coverage for up to eighteen (18) months as if Executive were an active employee unless doing so violates applicable law or is inconsistent with the coverage arrangement.

  • Pursuant to the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), Employer will provide Executive with written notice of the right to elect to continue health coverage, effective on the first day after the Separation Date.

  • The Company shall pay the premium payments for COBRA coverage in an amount equal to the Company-paid portion for such benefits as of immediately prior to the Separation Date for a period of up to the first twelve (12) full calendar months following the Separation Date, provided Employee timely elects and pays the employee’s portion for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), within the time period prescribed pursuant to COBRA.

  • No Employee Benefit Plan provides or promises, or at any time provided or promised, retiree health, life insurance, or other retiree welfare benefits except as may be required by the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, or similar state law.

  • If Executive timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company shall pay the full amount of Executive’s COBRA premiums on behalf of Executive for Executive’s continued coverage under the Company’s health, dental and vision plans, including coverage for Executive’s eligible dependents, for twelve (12) months following the last date on which Executive was eligible for such coverage as an active employee of the Company.


More Definitions of Consolidated Omnibus Budget Reconciliation Act

Consolidated Omnibus Budget Reconciliation Act of 1985 or COBRA ” coverage provided under a right of continuation pursuant to federal law.
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Consolidated Omnibus Budget Reconciliation Act of 1986, as amended.
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Consolidated Omnibus Budget Reconciliation Act. ("COBRA") or any collective bargaining agreement. The Sellers, however, do not assume any liability relating in any way to the Company's employees, former employees, officers or directors hired after the Closing, including liability under any employee benefit plans sponsored by the Buyer or arising under the WARN Act, COBRA or any collective bargaining agreement to which the Buyer is a party to the extent any such liability arises from the Buyer's acts or omissions after the Closing Date. The Sellers shall indemnify the Buyers with respect to WARN Act liabilities arising as a result of the transactions contemplated by this Agreement as provided in SECTION 10.
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Related to Consolidated Omnibus Budget Reconciliation Act

  • Consolidated refers to the consolidation of accounts in accordance with GAAP.

  • Health Insurance Portability and Accountability Act means the Health Insurance Portability and Accountability Act of 1996, Pub. L. No. 104-191, 110 Stat. 1936, as amended.

  • Consolidated Total Debt to Consolidated EBITDA Ratio means, as of any date of determination, the ratio of (a) Consolidated Total Debt as of the last day of the relevant Test Period to (b) Consolidated EBITDA for such Test Period.

  • Budget year means the financial year of the municipality for which an annual budget is to be approved in terms of section 16(1) of the MFMA;

  • Consolidated Cash Balance means, at any time, the aggregate amount of cash and cash equivalents, marketable securities, treasury bonds and bills, certificates of deposit, investments in money market funds and commercial paper, in each case held by the Parent and its Consolidated Subsidiaries.

  • Consolidated Net Income (Loss) of any Person means, for any period, the Consolidated net income (or loss) of such Person and its Subsidiaries for such period on a Consolidated basis as determined in accordance with GAAP, adjusted, to the extent included in calculating such net income (or loss), by excluding, without duplication, (i) all extraordinary gains or losses (exclusive of all fees and expenses relating thereto), (ii) the portion of net income (or loss) of such Person and its Subsidiaries on a Consolidated basis allocable to minority interests in unconsolidated Persons to the extent that cash dividends or distributions have not actually been received by such Person or one of its Subsidiaries, (iii) net income (or loss) of any Person combined with such Person or any of its Subsidiaries on a “pooling of interests” basis attributable to any period prior to the date of combination, (iv) any gain or loss, net of taxes, realized upon the termination of any employee pension benefit plan, (v) net gains (or losses) (except for all fees and expenses relating thereto) in respect of dispositions of assets other than in the ordinary course of business, (vi) the net income of any Subsidiary to the extent that the declaration of dividends or similar distributions by that Subsidiary of that income is not at the time permitted, directly or indirectly, by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its stockholders, (vii) any gain arising from the acquisition of any securities, or the extinguishment, under GAAP, of any Indebtedness of such Person, (viii) transaction costs charged in connection with the Refinancing, or (ix) amortization of intangible assets of such Person and its Subsidiaries on a consolidated basis under GAAP.

  • Consolidated Plan means the plan prepared in accordance with 24 CFR Part 91, which describes needs, resources, priorities and proposed activities to be undertaken with respect to certain HUD programs, including the HOME Program.

  • Consolidated Capitalization means the sum obtained by adding (i) Consolidated Shareholders' Equity, (ii) Consolidated Indebtedness for money borrowed (exclusive of any thereof which is due and payable within one year of the date such sum is determined) and, without duplication, (iii) any preference or preferred stock of the Company or any Consolidated Subsidiary which is subject to mandatory redemption or sinking fund provisions.

  • Consolidated Depreciation Expense means, for any period, the depreciation expense of Holdings and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Consolidated Return means a Tax Return filed with respect to Federal Income Taxes for the Consolidated Group.

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

  • Consolidated federal income tax return means a consolidated return filed for federal income tax purposes pursuant to section 1501 of the Internal Revenue Code.

  • Consolidated federal taxable income means the consolidated taxable income of an affiliated group of corporations, as computed for the purposes of filing a consolidated federal income tax return, before consideration of net operating losses or special deductions. "Consolidated federal taxable income" does not include income or loss of an incumbent local exchange carrier that is excluded from the affiliated group under division (A)(1) of this section.

  • Consolidated Cash Interest Charges means, for any period, for the Borrower and its Restricted Subsidiaries on a consolidated basis, that portion of Consolidated Interest Charges that is either paid or required to be paid in cash during such period, but excluding prepayment or similar premiums paid in connection with any prepayment, repurchase or redemption of Consolidated Funded Indebtedness.

  • Consolidated Liabilities means the sum of (i) all liabilities that, in accordance with GAAP, should be classified as liabilities on a consolidated balance sheet of Borrower and its Consolidated Subsidiaries and the Guarantors, and (ii) to the extent not included in clause (i) of this definition, all Redeemable Preferred Stock.

  • Consolidated Depreciation and Amortization Expense means with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Budget unit means the unit for which the ANB of a district is calculated separately pursuant to 20-9-311.

  • Consolidated Capitalization Ratio on the last day of any fiscal quarter, the ratio of (a) Consolidated Total Indebtedness to (b) Consolidated Capital.

  • Consolidated Rental Expense means, for any period, the total rental expense for operating leases of the Borrower and its Consolidated Subsidiaries, determined on a consolidated basis for such period; provided that Consolidated Rental Expense shall not be reduced by any rental income.