Examples of Xxxxxxx International Group in a sentence
All cash and cash equivalents held by a member of the Xxxxxxx Electronics Group as of the Effective Time will be a Xxxxxxx Electronics Asset and all cash and cash equivalents held by any member of the Xxxxxxx International Group as of the Effective Time will be a Xxxxxxx International Asset.
Nothing contained herein shall be construed to be an attempted assignment of or a change to any part of the ownership of the Company Policies or shall be construed to waive any right or remedy of any member of the Xxxxxxx International Group in respect thereof.
Nothing in the Exhibits or Schedules constitutes an admission of any liability or obligation of any member of the Xxxxxxx International Group or the Xxxxxxx Electronics Group or any of their respective Affiliates to any third party, nor, with respect to any third party, an admission against the interests of any member of the Xxxxxxx International Group or the Xxxxxxx Electronics Group or any of their respective Affiliates.
After the Effective Time, (i) Xxxxxxx International shall be responsible for providing any necessary WARN notice (and meeting any similar state Law notice requirements) with respect to any termination of employment of any Xxxxxxx International Group Employee and (ii) Xxxxxxx Electronics shall be responsible for providing any necessary WARN notice (and meeting any similar state Law notice requirements) with respect to any termination of employment of any Xxxxxxx Electronics Group Employee.
Xxxxxxx International will transfer and assign (or cause another member of the Xxxxxxx International Group to transfer and assign) to a member of the Xxxxxxx Electronics Group all rights to seek contribution or damages from any applicable third party (such as a third party who aggravates an injury to a worker who makes a workers’ compensation claim) with respect to any workers’ compensation claim for which Xxxxxxx Electronics is responsible pursuant to this Article X.
Xxxxxxx International (acting directly or through a member of the Xxxxxxx International Group) shall be responsible for providing all collateral required by insurance carriers or state workers’ compensation bodies in connection with workers’ compensation insurance or claims for which Liability is allocated to the Xxxxxxx International Group under this Article X.
Furthermore, unless expressly provided for in this Agreement or the Distribution Agreement or required by applicable Law, no provision in this Agreement shall be construed to create any right to accelerate vesting, distribution of benefits or entitlements to any compensation or under any Benefit Plan on the part of any Xxxxxxx International Group Employee, Former Xxxxxxx International Group Employee, Xxxxxxx Electronics Group Employee or Former Xxxxxxx Electronics Group Employee.
For the avoidance of doubt, Xxxxxxx Electronics Welfare Plan Participants shall not participate in any Xxxxxxx International Welfare Plan after the time set forth in the immediately preceding sentence, and Xxxxxxx International Group Employees and Former Xxxxxxx International Group Employees shall not participate in the Xxxxxxx Electronics Welfare Plan at any time.
Effective as of the Effective Time, the Xxxxxxx International Entity employing each Xxxxxxx International Group Employee shall have (and, to the extent it has not previously had such obligations, such Xxxxxxx International Entity shall assume) the obligations for all claims and Liabilities relating to workers’ compensation and unemployment compensation benefits for all Xxxxxxx International Group Employees and Former Xxxxxxx International Group Employees.
Xxxxxxx International shall have sole responsibility for the administration of the Xxxxxxx International SERP and the payment of benefits thereunder to or on behalf of Xxxxxxx International Group Employees, Former Xxxxxxx International Group Employees, and Former Xxxxxxx Electronics Group Employees, and no member of the Xxxxxxx Electronics Group shall have any liability or responsibility therefor.