Common use of Allocation and Assumption of Liabilities Clause in Contracts

Allocation and Assumption of Liabilities. 3Com shall determine the amount of Assets under the 3Com Sabbatical Plan and related trust as of the Distribution Date (or such other date that Palm establishes the Palm Sabbatical Plan) attributable to Palm. As soon as administratively practicable thereafter, 3Com shall pay to Palm or to the trustee of the Palm Sabbatical Plan, as Palm specifies, an amount equal to Palm's Assets under the 3Com Sabbatical Plan, if any.

Appears in 1 contract

Sources: Employee Matters Agreement (Palm Inc)

Allocation and Assumption of Liabilities. 3Com shall determine ---------------------------------------- the amount of Assets under the 3Com Sabbatical Plan and related trust as of the Distribution Date (or such other date that Palm establishes the Palm Sabbatical Plan) attributable to Palm. As soon as administratively practicable thereafter, 3Com shall pay to Palm or to the trustee of the Palm Sabbatical Plan, as Palm specifies, an amount equal to Palm's Assets under the 3Com Sabbatical Plan, if any.

Appears in 1 contract

Sources: Employee Matters Agreement (Palm Inc)