Common use of Credit for Service Clause in Contracts

Credit for Service. Purchaser shall, or shall cause its Affiliates to, credit Transferred Employees for service earned on and prior to the Closing Date with GE and its Affiliates (including the Business Subsidiaries), or any of their respective predecessors, in addition to service earned with Purchaser and its Affiliates on or after the Closing Date, (i) to the extent that service is relevant for purposes of eligibility, vesting or the calculation of vacation, sick days, severance, layoff and similar benefits (but not for purposes of defined benefit pension benefit accruals) under any retirement or other employee benefit plan, program or arrangement of Purchaser or any of its Affiliates for the benefit of the Transferred Employees on or after the Closing Date and (ii) for such additional purposes as may be required by applicable Law; provided that nothing herein shall result in a duplication of benefits with respect to the Transferred Employees.

Credit for Service. Purchaser To the extent permitted by applicable Law, Buyer shall, or shall cause its Affiliates to, credit the Transferred Employees for service earned on and prior to the Closing Date with GE Seller and its Affiliates (including the Business SubsidiariesCompany), or any of their respective predecessors, in addition to service earned with Purchaser Buyer and its Affiliates on or after the Closing Date, (i) to the extent that service is relevant for purposes of eligibility, vesting or the calculation of vacation, sick days, severance, layoff and similar benefits (but not for purposes of defined benefit pension benefit accruals) under any retirement or other employee benefit plan, program or arrangement of Purchaser Buyer or any of its Affiliates for the benefit of the Transferred Employees on or after the Closing Date and (ii) for such additional purposes as may be required by applicable Law; provided that nothing herein shall result in a duplication of benefits with respect to the Transferred Employees.

Credit for Service. Purchaser Buyer shall, or shall cause its Affiliates to, credit Transferred Business Employees for service earned on and prior to the Closing Date with GE the Seller Parties or the Transferred Companies, as applicable, and its Affiliates (including the Business Subsidiaries)their respective Affiliates, or any of their respective predecessors, in addition to service earned with Purchaser Buyer and its Affiliates or the Transferred Companies on or after the Closing Date, (i) Date to the extent that service is relevant for purposes of eligibility, vesting or the calculation of vacation, sick days, severance, layoff and and/or similar benefits (but not for purposes of defined benefit pension benefit accruals) under any retirement or other employee benefit plan, program or arrangement of Purchaser maintained by Buyer or any of its Affiliates or any Transferred Company for the benefit of the Transferred Business Employees on or after the Closing Date and (ii) for such additional purposes as may be required by applicable LawDate; provided that nothing herein shall result in a duplication of benefits or funding with respect to the Transferred Business Employees.