Ultra Welfare Plan definition

Ultra Welfare Plan means any Welfare Plan sponsored or maintained by any one or more members of the Ultra Group following the Effective Time.
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Examples of Ultra Welfare Plan in a sentence

  • With respect to unpaid covered claims incurred by any Ultra Welfare Plan Participant under any Delta Welfare Plans for periods of time before the date on which such Ultra Welfare Plans are established, including claims that are self-insured and claims that are fully insured through third-party insurance, Delta shall retain and be responsible for the payment for such claims or shall cause such Delta Welfare Plans to fully perform, pay and discharge all such claims, as the case may be.

  • Coverage and benefits under the Ultra Welfare Plans shall then be provided to the Ultra Welfare Plan Participants on an uninterrupted basis, so far as is reasonably practicable, under the newly established Ultra Welfare Plans that shall contain substantially the same benefit provisions as in effect under the corresponding Delta Welfare Plans immediately prior to the Effective Time.

  • To the extent any Ultra Welfare Plan provides or constitutes a health care flexible spending account, dependent care flexible spending account, or commuter transportation spending accounts (each, a “Ultra FSA”), such Ultra Welfare Plan shall be effective as of the earlier of the Effective Time or the date on which such plan is established.

  • To the extent that any Ultra Welfare Plan provides or constitutes a health savings account (each a “Ultra HSA”), such Ultra Welfare Plan shall be effective no later than as of the Effective Time.

  • It is the intention of the Parties that all activity under an Ultra Welfare Plan Participant’s health savings account with Delta for the year in which the Distribution occurs be treated instead as activity under the corresponding Ultra HSA.

  • With respect to each Ultra Welfare Plan Participant, the Ultra Welfare Plans will use best efforts to give credit for the plan year in which the Effective Time occurs for any amount paid, number of services obtained or provider visits by such Ultra Welfare Plan Participant toward deductibles, out-of-pocket maximums, limits on number of services or visits, or other similar limitations to the extent such amounts are taken into account under the comparable Delta Welfare Plan.

  • Unless prohibited by applicable Law, the Ultra Welfare Plans will waive all limitations as to preexisting conditions, exclusions, service conditions, waiting period limitations or evidence of insurability requirements that would otherwise be applicable to the Ultra Welfare Plan Participant following the Effective Time to the extent that such Employee had previously satisfied such limitation under the corresponding Delta Welfare Plan.

  • Ultra Welfare Plan Participants shall cease to be eligible for coverage under the Delta Welfare Plans in the case of Ultra Welfare Plan Participants following the establishment and adoption of the Ultra Welfare Plans and the transfer of such participants to the Ultra Welfare Plans.

  • Ultra Welfare Plan Participants shall cease to be eligible for coverage under the Delta Welfare Plans in the case of Ultra Welfare Plan Participants following the establishment and adoption of the Ultra Welfare Plans and the transfer of US-DOCS\101492795.4 such participants to the Ultra Welfare Plans.

Related to Ultra Welfare Plan

  • Welfare Plan means a “welfare plan” as defined in Section 3(1) of ERISA.

  • Health and Welfare Plans means any plan, fund or program which was established or is maintained for the purpose of providing for its participants or their beneficiaries, through the purchase of insurance or otherwise, medical (including PPO, EPO and HDHP coverages), dental, prescription, vision, short-term disability, long-term disability, life and AD&D, employee assistance, group legal services, wellness, cafeteria (including premium payment, health flexible spending account and dependent care flexible spending account components), travel reimbursement, transportation, or other benefits in the event of sickness, accident, disability, death or unemployment, or vacation benefits, apprenticeship or other training programs or day care centers, scholarship funds, or prepaid legal services, including any such plan, fund or program as defined in Section 3(1) of ERISA.

  • Retiree Welfare Plan means, at any time, a Welfare Plan that provides for continuing coverage or benefits for any participant or any beneficiary of a participant after such participant's termination of employment, other than continuation coverage provided pursuant to Section 4980B of the IRC and at the sole expense of the participant or the beneficiary of the participant.

  • Welfare Plans shall have the meaning set forth in Section 3.2.4.

  • Health and Welfare Benefits means any form of insurance or similar benefit programs, which may include but not be limited to, medical, hospitalization, surgical, prescription drug, dental, optical, psychiatric, life, or long-term disability.