Examples of Spinco Companies in a sentence
The Spinco Companies also assume as Assumed Liabilities all liabilities and obligations of the Parent Companies, with respect to each Spinco Business Employee and Former Spinco Business Employee, arising under any workers’ compensation laws relating to accidents or occupational diseases that occurred on, before or after the Distribution Date.
Spinco shall cause the applicable Spinco Companies to perform each Spinco PO in accordance with the respective specifications or scope of work set forth, or to be set forth, as the case may be, in the applicable Spinco Order under the Shared Contract (Parent Companies) with respect thereto and in accordance with the terms and conditions and at the same prices applicable to such Spinco PO.
With respect to the Shared Contracts (Spinco Companies), from and after the date of this Agreement and during the term of such Shared Contracts (Spinco Companies), Spinco shall provide Parent, in writing, the following: (i) any draft task order request for proposal (“TO RFP”), (ii) any customer-announced intent to release a draft TO RFP, (iii) any draft TO RFP release dates and (iv) any final TO RFP under such Shared Contracts (Spinco Companies).
Without limiting the foregoing, the Receiving Party shall not use or disclose any pricing data or information of an Originating Party in any Bid or proposal, other than in connection with proposals submitted under a Shared Contract (Spinco Companies) in accordance with this Agreement.
The Spinco Companies will assume all and any employment related liabilities and obligations under Applicable Law and in accordance with Section 2.02(c) hereof.
Upon the expiration of each Shared Contract (Spinco Companies), either Party may bid on any replacement vehicle or recompete procurement.
The employment by the Parent Companies of each such Spinco Business Employee shall be transferred to the employment of the Spinco Companies such that the employment of each such individual shall be considered continuous and uninterrupted employment under Applicable Law.
Prior to the date of this Agreement, the Parent Business has submitted quotations, bids or proposals for work under the Shared Contracts (Spinco Companies) (“Parent Bids”).
The Spinco Companies hereby assume as Assumed Liabilities all of the liabilities and obligations of the Parent Companies under such plans under Part 6 of Title I of ERISA and Section 4980B of the Code (“COBRA”) in effect on the Distribution Date with respect to Spinco Business Employees and, in the case of COBRA obligations incurred under a plan that is sponsored or maintained by a Spinco Company, Former Spinco Business Employees, and their respective qualified beneficiaries.
Without limiting the generality of the foregoing, for the six month period beginning on the Distribution Date, the Spinco Companies shall maintain in effect the severance and layoff plans applicable to the Spinco Business Employees immediately before the Distribution Date.