Common use of Service by post Clause in Contracts

Service by post. Closing Company Employees with the Company shall be recognized under the Buyer Welfare Plans, and any other employee benefit plans maintained by the Buyer for the benefit of Post-Closing Company Employees, for all purposes, including but not limited to participation, coverage, vesting and level of benefits, as applicable. The Buyer shall waive or cause its insurance carriers to waive all limitations as to preexisting conditions, if any, with respect to participation and coverage requirements applicable to Post-Closing Company Employees under the Buyer Welfare Plans except to the extent that such limitations (i) prevented any person from participating in any Parent Employee Benefit Plan immediately prior to the Closing Date and (ii) remain allowable following the passage of the Health Insurance Portability and Accountability Act.