Seller’s Cafeteria definition

Seller’s Cafeteria. Plan”) shall participate in Buyer’s Cafeteria Plan effective as of the Closing Date. During the period from the Closing Date until the last day of the plan year of Seller’s Cafeteria Plan that commenced immediately prior to the Closing Date, Buyer shall continue, or shall cause to be continued, the salary reduction elections made by the Cafeteria Plan Participants as in effect as of the Closing Date, and each Cafeteria Plan Participant shall be entitled to reimbursement from such participant’s flexible spending reimbursement accounts under Buyer’s Cafeteria Plan on the same terms and conditions as would have been applicable to such participant had such participant continued to be employed by Seller during such period. As soon as practicable following the Closing Date, Seller shall cause to be transferred from Seller’s Cafeteria Plan to Buyer’s Cafeteria Plan the excess, if any, of the aggregate accumulated contributions to the flexible spending reimbursement accounts made by Cafeteria Plan Participants prior to the Closing during the year in which the Closing occurs over the aggregate reimbursement payouts paid to the Cafeteria Plan Participants for such year from such accounts. From and after the Closing, Buyer shall assume, or cause to be assumed, and be solely responsible for all unreimbursed claims made by the Cafeteria Plan Participants under Seller’s Cafeteria Plan that were incurred for the plan year of Seller’s Cafeteria Plan that commenced prior to the Closing, or that are incurred anytime thereafter.
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Seller’s Cafeteria. Plan has the meaning set forth in Section 6.03(i).
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Examples of Seller’s Cafeteria in a sentence

  • From and after the Closing, Buyer shall assume, or cause to be assumed, and be solely responsible for all unreimbursed claims made by the Cafeteria Plan Participants under Seller’s Cafeteria Plan that were incurred for the plan year of Seller’s Cafeteria Plan that commenced prior to the Closing, or that are incurred anytime thereafter.

  • As soon as practicable following the Closing Date, Seller shall cause to be transferred from Seller’s Cafeteria Plan to Buyer’s Cafeteria Plan the excess, if any, of the aggregate accumulated contributions to the flexible spending reimbursement accounts made by Cafeteria Plan Participants prior to the Closing during the year in which the Closing occurs over the aggregate reimbursement payouts paid to the Cafeteria Plan Participants for such year from such accounts.

  • Reimbursements made to participants under the Seller’s Cafeteria Plan from January 1, 2010 until the Closing Date will be carried forward.

  • Seller will transfer to Buyer an amount equal to participant contributions to the Seller’s Cafeteria Plan from January 1, 2010 until the Closing Date, less participant reimbursements during such period, as soon as administratively feasible after Closing.

  • On and after the Closing Date, Buyer shall assume and be solely responsible for all claims for reimbursement by Active Transferred Employees under the flexible spending reimbursement accounts of Seller’s Cafeteria Plan, whether incurred prior to, on or after the Closing Date, that have not been paid in full as of the Closing Date.

  • The Purchaser shall cause Purchaser’s Cafeteria Plan to accept a spin-off of the flexible spending reimbursement accounts from Seller’s Health Care Spending Account Plan (“Seller’s Cafeteria Plan”) and shall honor and continue through the end of the calendar year in which the Closing Date occurs the elections made by each U.S. Transferred Employee under the Seller’s Cafeteria Plan in respect of the flexible spending reimbursement accounts that are in effect as of the Closing Date.

  • Beginning on the first pay date on and after the Closing Date and ending on the last pay date on or before the last day of the plan year that includes the Closing Date, Buyer will make deductions from each Continuing Employee paycheck in accordance with that Continuing Employee’s election under the Seller’s Cafeteria Plan.

  • Purchaser shall, or shall cause its Affiliates to, cause Purchaser’s Cafeteria Plan to accept a spin-off of the flexible spending reimbursement accounts from Seller’s Cafeteria Plan and shall honor and continue through the end of the calendar year in which the Closing Date occurs the elections made by each Transferred Employee under the Seller’s Cafeteria Plan in respect of the flexible spending reimbursement accounts that are in effect immediately prior to the Closing Date.

  • Reimbursements made to participants under Seller’s Cafeteria Plan from the first day of the plan year until the Closing Date will be carried forward.

  • Participant health flexible spending arrangement elections made prior to the Closing Date under the Seller’s Cafeteria Plan will continue to be effective on and after the Closing Date for the plan year that includes the Closing Date.

Related to Seller’s Cafeteria

  • Seller Use means fuel used for gas compression, LPG plants and LNG plants, other gas needed by Seller's facilities to furnish the requirements of Buyers, together with unaccounted for gas. This gas shall be considered Included In Priority of Service Category 1. Other vital uses of Seller, such as flame stabilization requirements, will be met as long as such uses do not jeopardize service to its firm service Buyers.

  • Seller 401(k) Plan has the meaning set forth in Section 6(e) below.

  • Seller Plans has the meaning set forth in Section 3.13(a).

  • Sellers has the meaning set forth in the preamble.

  • Retained Contracts shall have the meaning set forth in Section 1.2(i).