Continuation of Certain Coverage. In any case where the Company is obligated to provide coverage under [Section 3.03(a)] or [Section 4.01(b)], the Company at its option may provide such coverage directly under its own plans, and, for the avoidance of doubt, shall provide such coverage on a basis that to the extent permitted by applicable law is, in whole or in part, taxable or nontaxable, provided, that any such coverage that can be provided on a nontaxable basis shall be so provided unless the Company determines that to do so would result in adverse tax consequences to Executive, to other current or former employees of the Company or to the Company. If in the Company’s good faith determination continued coverage under its own plans would be impracticable notwithstanding diligent effort by the Company or would result in adverse tax consequences to Executive, to other current or former employees of the Company or to the Company, the Company may instead provide Executive with cash in an amount such that Executive may obtain coverage under other insurance policies providing coverage that is at least equivalent to the coverage under the Company’s plans, including deductibles, co-payment percentages or amounts, and maximum coverage amounts. Any provision of coverage, including cash payments as herein provided, shall be accomplished in a manner that to the Company’s satisfaction either complies with Section 409A or with the requirements for exemption from [Section 409A].
Continuation of Health Coverage. You will receive information, under separate cover, regarding your rights under COBRA to a temporary extension of your group health coverage, as well as timeframes necessary for continuations, conversions and/or distribution of benefits under the Company’s benefit programs after your Termination Date and otherwise in accordance with the terms thereof.
COBRA. “COBRA” means the provisions regarding healthcare continuation coverage set forth in [Section 601] et seq. of ERISA and Section 4980B of the Code.
COBRA Premium. “COBRA Premium” means the monthly cost of providing healthcare continuation coverage for a qualified beneficiary under COBRA, as adjusted from time to time.
Healthcare Benefits. In lieu of providing Executive with any premiums or insurance coverage under any continued healthcare benefits, including the Consolidated Omnibus Budget Reconciliation Act (“COBRA”) or applicable state law, or other similar benefits, Company will pay Executive, no later than ten (10) business days following the completion of the Revocation Periods described in [Article 14], the lump sum amount of , approximating the pre-tax value of such coverage for a 12-month period (the “Healthcare Consideration”).
Healthcare Benefits. During the Term, and his eligible dependents shall be eligible to continue to participate in the Company's group health care plans as in effect from time to time, subject to ' timely payment to the Company of the full premium for such coverage in the amount determined by the Company in its discretion (the "Health Benefits"), which premium shall be paid to the Company on an annual basis no later than January 31 of each calendar year during the Term. Following the cessation of the Health Benefits coverage, and his eligible dependents shall be entitled to elect continuation coverage under the Company's group health care plans pursuant the health care continuation coverage mandated by the Consolidated Omnibus Budget Reconciliation Act of 1985 (the "COBRA Benefits").
for the period of months required by COBRA after the Date of Termination due to Executive’s death, Disability or Retirement, Executive or his dependents shall have the right to elect continuation of healthcare coverage under the Company’s group plan (if allowed by the plan) in accordance with COBRA, provided Executive or his dependents shall pay the entire cost of such coverage; and
Coverage Ratio. The Parent will not permit the ratio, determined as of the end of each fiscal quarter of the Parent, for the then most recently ended four fiscal quarters of # Consolidated EBITDA to # Consolidated Interest Expense (the “Interest Coverage Ratio”), to be less than 2.50 to 1.00. As of the date of this Agreement, pursuant to [Section 9.9], the minimum Interest Coverage Ratio shall be 3.00 to 1.00 in accordance with [Section 7.12(a)] of the Bank Credit Agreement. For purposes of clarification, so long as any of the Notes are outstanding, for purposes of this [Section 10.7(a)], the minimum Interest Coverage Ratio shall not be lower than 2.50 to 1.00.
Medical Coverage. In addition, the Company shall provide the Executive with medical, dental and vision insurance benefits (which may also cover, if applicable, the Executive’s spouse and eligible dependents) for three hundred sixty-five (365) days from the date of the Executive’s termination of employment or until such time as the Executive is eligible for group health coverage under another employer’s plan, whichever occurs first. In order to trigger the Company’s obligation to provide health care continuation benefits, the Executive must elect continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), upon such eligibility. The Company’s obligation shall be satisfied solely through the payment of the Executive’s COBRA premiums during the 365-day period, but only to the extent that such premiums exceed the amount that would otherwise have been payable by the Executive for coverage of the Executive and the Executive’s eligible dependents that were covered by the Company’s medical, dental, and vision insurance programs at the time of the Executive’s termination of employment had the Executive continued to be employed by the Company.
has no insurance or general liability policies maintained by on its properties and assets.
Other Coverage. Landlord may require other types of insurance coverage and/or increase the insurance limits set forth above if Landlord determines such increase is required to protect adequately the parties named as insureds or additional insureds under such insurance.
COBRA Coverage. Purchaser shall be responsible for perpetuating the group health plan continuation coverages pursuant to Code section 4980B and ERISA [sections 601 through 609] for all current and former Business Employees and their spouses and dependents, regardless of termination date. Purchaser shall indemnify and hold Sellers harmless for any Liability to Sellers incur at any time after the Closing Date under the provisions of Code section 4980B or ERISA [sections 601 through 609] with respect to all current and former Business Employees and their dependents or spouses.
Medical Coverage. Employee may elect to extend Employee’s medical coverage (but not dental coverage) at the active premium rates as described in the document entitled “Information About Your Immediate Medical and Dental Options” (the “Medical Information Document”). Employee must make such election in accordance with the requirements set forth in the Medical Information Document.
Coverage Requirement;. The sum of the Net Investment, plus the Required Reserves does not exceed the Net Pool Balance.
Medical Coverage. Smathers shall have the option to convert and continue medical and dental insurance for himself and his eligible dependents after the Termination Date, as may be required or authorized by law under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”). The Company shall pay the cost of Smathers’ premiums to continue medical coverage pursuant to COBRA, at the same or reasonably equivalent medical coverage for Smathers (and, if applicable, Smathers’ eligible dependents) as in effect immediately prior to the Termination Date, for a period of six months, commencing on the Termination Date.
You may use your Health Benefits Payment in whatever way you choose. In other words, you do not have to use your Health Benefits Payment to help pay for COBRA continuation coverage. If you do decide to cover yourself and eligible dependents, if any, on a COBRA continuation coverage basis, then you must apply for and pay for such coverage yourself. It will not be provided to you automatically.
Section # Medical and Prescription Coverage. If the Severed Employee is eligible for continuing group coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Employer shall provide a lump sum taxable payment to the Employee equal to the cost (including the Employer and Employee portion) of such continuation coverage for the period the Severed Employee is eligible to receive Base Salary continuation payments pursuant to [Schedule A], reduced by applicable taxes. This payment will be made no later than two and one-half (2 ½) months following the Date of Termination.
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