Welfare Plan Date definition
Examples of Welfare Plan Date in a sentence
Without limiting the generality of Section 2.06, and Section 2.07, effective as of the Welfare Plan Date, Aerospace shall, or shall cause the members of the Aerospace Group to, establish a cafeteria plan that shall provide health or dependent care flexible spending account benefits to Aerospace Employees and Former Aerospace Employees on and after the Welfare Plan Date (collectively, the “Aerospace Flex Plan”).
In the event that an Aerospace Employee or Former Aerospace Employee (or his or her eligible dependents) was receiving, or was eligible to receive, continuation health coverage pursuant to COBRA on or after the applicable Welfare Plan Date, except as provided in Section 6.02 with respect to claims incurred prior to the Distribution Date, Aerospace and the Aerospace Welfare Plans shall be responsible for all Liabilities to such employee in respect of COBRA on or after the applicable Welfare Plan Date.
The Parties shall use commercially reasonable efforts to ensure that as of the Welfare Plan Date, any health and dependent care flexible spending accounts of Aerospace Employees (whether positive or negative) (the “Transferred Account Balances”) under Automation Welfare Plans are transferred as soon as practicable after the Welfare Plan Date, from the Automation Welfare Plans to the Aerospace Flex Plan.
Such Aerospace Flex Plan shall assume responsibility as of the Welfare Plan Date for all outstanding health or dependent care claims under the corresponding Automation Welfare Plans of each Aerospace Employee as of the first day of the year in which the Distribution occurs and shall assume and agree to perform the obligations of the corresponding Automation Welfare Plans from and after the Welfare Plan Date.