Examples of Seller Flexible Spending Account Plan in a sentence
From and after the Closing Date, for purposes of the account balances of the Seller flexible spending account plan maintained in the United States with respect to Transferred Employees and their dependents (the “Seller Flexible Spending Account Plan”), which Liabilities shall be Retained Liabilities, Seller shall treat Transferred Employees who made elections under the Seller Flexible Spending Account Plan for the plan year in which the Closing Date occurs as if they are terminated employees.
In connection with such transfer, the Purchaser shall deem that such employees’ deferral elections made under the Seller Flexible Spending Account Plan for the plan year in which the Closing Date occurs shall continue in effect under the Purchaser Flexible Spending Account Plan for the remainder of the plan year in which the Closing Date occurs.
In connection with such transfer, Purchaser shall deem that such employees’ deferral elections made under 41 the Seller Flexible Spending Account Plan for the plan year in which the Closing Date occurs shall continue in effect under the Purchaser Flexible Spending Account Plan for the remainder of the plan year in which the Closing Date occurs.
Unless otherwise required by applicable Law, Seller shall be liable for all Liabilities, account balances and claims for reimbursement made under the Seller Flexible Spending Account Plan and Purchaser shall be liable for all Liabilities, account balances and claims for reimbursement made under the Purchaser Flexible Spending Account Plan.
Notwithstanding anything herein to the contrary, other than as a result of (i) direct rollovers from the Business 401(k) Plan to the Purchaser 401(k) Plan or (ii) transfers from the Seller Flexible Spending Account Plan to the Purchaser Flexible Spending Account Plan, there shall be no transfer of assets from any Business Benefit Plan to any employee benefit plan or arrangement maintained by Purchaser or its subsidiaries.