Common use of Accrued Entitlements Clause in Contracts

Accrued Entitlements. Each Affected Employee shall cease to participate in the employee benefit plans, programs and arrangements of Seller immediately prior to the Effective Time applicable to such Affected Employee. Neither Purchaser nor its Affiliates shall have any liability for, and Seller shall be solely liable and responsible for, (i) compensation, if any, payable to or for the benefit of any person prior to such time, if any, as such person becomes an Affected Employee, and subject to Section 7.5(b), in the case of each Affected Employee, all compensation with respect to periods prior to the Effective Time, and (ii) liabilities, if any, incurred under any employee benefit plan, program or arrangement of Seller or its Affiliates by any person who does not become an Affected Employee, and, in the case of each Affected Employee, and subject to Section 7.5(b) all liabilities incurred under any employee benefit plan, program or arrangement of Seller or its Affiliates that is incurred prior to the Effective Time. For purposes of the foregoing, the following liabilities shall be deemed to be incurred as follows: (A) in the case of life insurance, accidental death and dismemberment insurance or business travel accident insurance, when the death or accident giving rise to the claim occurs; (B) in the case of disability benefits, when the individual becomes entitled to benefits under the terms of the applicable disability plan of Seller or Purchaser as the case may be; and (C) in the case of health, dental and/or prescription drug benefits, when the services, materials or supplies for which coverage is claimed are provided or sold. Without limiting the foregoing, Purchaser and its Affiliates shall have no liability for, and Seller shall be solely liable and responsible for, the severance or similar separation pay benefits, if any, with respect to any person who does not become an Affected Employee.

Accrued Entitlements. Each Affected Employee shall cease to participate in the employee benefit plans, programs and arrangements of Seller immediately prior to the Effective Time applicable to such Affected Employee. Neither Purchaser nor its Affiliates shall have any liability for, and Seller shall be solely liable and responsible for, (i) compensation, if any, payable to or for the benefit of any person prior to such time, if any, as such person becomes an Affected Employee, and subject to Section 7.5(b), in the case of each Affected Employee, all compensation with respect to periods prior to the Effective Time, and (ii) liabilities, if any, incurred under any employee benefit plan, program or arrangement of Seller or its Affiliates by any person who does not become an Affected Employee, and, in the case of each Affected Employee, and subject to Section 7.5(b) all liabilities incurred under any employee benefit plan, program or arrangement of Seller or its Affiliates that is incurred prior to the Effective Time. For purposes of the foregoing, the following liabilities shall be deemed to be incurred as follows: : (A) in the case of life insurance, accidental death and dismemberment insurance or business travel accident insurance, when the death or accident giving rise to the claim occurs; (B) in the case of disability benefits, when the individual becomes entitled to benefits under the terms of the applicable disability plan of Seller or Purchaser as the case may be; and (C) in the case of health, dental and/or prescription drug benefits, when the services, materials or supplies for which coverage is claimed are provided or sold. Without limiting the foregoing, Purchaser and its Affiliates shall have no liability for, and Seller shall be solely liable and responsible for, the severance or similar separation pay benefits, if any, with respect to any person who does not become an Affected Employee.