Examples of CVC Group in a sentence
No provision of this Agreement or the Distribution Agreement shall be construed to create any right, or accelerate entitlement, to any compensation or benefit whatsoever on the part of any CVC Employee or MSG Employee or other future, present, or former employee of any member of the CVC Group or MSG Group under any CVC Plan or MSG Plan or otherwise.
The Parties hereto agree that neither the Distribution nor any transfers of employment directly from the CVC Group to the MSG Group or directly from the MSG Group to the CVC Group that occur before the Effective Date shall constitute a COBRA “qualifying event” for purposes of COBRA.
MSG shall credit each MSG Participant with the amount of accrued but unused vacation time, sick time and other time-off benefits as such MSG Participant had with the CVC Group as of the Distribution Date or as of an employee’s transfer date for a CVC Employee who becomes a MSG Employee prior to December 31, 2010.
CVC acknowledges and agrees that, except as otherwise provided herein, it shall have full responsibility with respect to any Liabilities and the payment or performance of any obligations arising out of or relating to any employment, consulting, non-competition, retention or other compensatory arrangement previously provided by any member of the CVC Group or MSG Group to any CVC Participant.
Notwithstanding the above, MSG shall not be required to credit any MSG Participant and CVC shall not be required to credit any CVC Participant with any accrual to the extent that a benefit attributable to such accrual is provided by the CVC Group or MSG Group, respectively.
MSG acknowledges and agrees that, except as otherwise provided herein, it shall have full responsibility with respect to any Liabilities and the payment or performance of any obligations arising out of or relating to any employment, consulting, non-competition, retention or other compensatory arrangement previously provided by any member of the CVC Group or MSG Group to any MSG Participant.
The Parties acknowledge and agree that the transactions contemplated by the Distribution Agreement will not constitute a termination of employment of any MSG Participant for purposes of any policy, plan, program or agreement of CVC or MSG or any member of the CVC Group or MSG Group that provides for the payment of severance, separation pay, salary continuation or similar benefits in the event of a termination of employment.
All Liabilities retained or assumed by or allocated to CVC or the CVC Group pursuant to this Agreement shall be deemed to be “Cablevision Liabilities” (as defined in the Distribution Agreement) for purposes of Article III of the Distribution Agreement, and all Liabilities retained or assumed by or allocated to MSG or the MSG Group pursuant to this Agreement shall be deemed to be “MSG Liabilities” (as defined in the Distribution Agreement) for purposes of Article III of the Distribution Agreement.
Notwithstanding the above, AMC shall not be required to credit any AMC Participant and CVC shall not be required to credit any CVC Participant with any accrual to the extent that a benefit attributable to such vacation time, sick time or other time-off benefit is paid out by the CVC Group or AMC Group, respectively.
The Parties acknowledge and agree that the transactions contemplated by the Distribution Agreement will not constitute a termination of employment of any AMC Participant for purposes of any policy, plan, program or agreement of CVC or AMC or any member of the CVC Group or AMC Group that provides for the payment of severance, separation pay, salary continuation or similar benefits in the event of a termination of employment.