Examples of Excluded Plans in a sentence
Notwithstanding the foregoing, for a period of six months following the Distribution Date, Sedco Forex shall provide severance benefits for each Sedco Forex Employee that are not less than the employer-provided severance benefits applicable to such employee immediately prior to the Distribution Date, excluding benefits under the Excluded Plans.
Except as provided by applicable Law, Sellers shall be solely responsible and shall retain all Liabilities with respect to the Excluded Plans.
The Sellers will use commercially reasonable efforts to transfer all documents, data, records and information relating to the Excluded Plans that prior to the Closing were maintained or sponsored by the Companies or the Transferred Subsidiaries to the Seller or one of its Affiliates prior to the Closing.
As of the Closing Date, the Companies and the Subsidiaries shall cease to be participating employers under the Excluded Plans, and Parent, to the extent permitted by applicable Laws, shall take, or cause to be taken, all such actions as may be necessary to effectuate such cessation of participation.
Except as provided by applicable Law, Seller shall be solely responsible and shall retain all Liabilities with respect to the Excluded Plans.