Applicable Distribution Date definition
Examples of Applicable Distribution Date in a sentence
The Servicer shall notify the Indenture Trustee of the applicable amounts of principal and interest to be paid on each Class of Notes not later than the Business Day following the day on which the Applicable Distribution Date is determined.
Nothing contained in this Section 2 shall confer on any ITT Employee, any Destinations Employee or any ESI Employee any right to continued employment, whether before or after the Applicable Distribution Date.
Effective as of the Applicable Distribution Date, (a) ITT Employees shall remain employees of ITT or its subsidiaries and ESI Employees shall remain employees of ESI, and (b) Destinations Employees shall remain or become (as applicable) employees of Destinations or its subsidiaries.
ITT, Destinations and ESI each will be liable for any severance pay and benefits (including salary continuation) owing, as of the Applicable Distribution Date, to ITT Individuals, Destinations Individuals and ESI Individuals, respectively.
As of the Applicable Distribution Date, ITT will retain liability for, and ESI will assume liability for, all future post-retirement medical plan and arrangement obligations attributable to ITT Employees and ESI Employees, respectively, including those ITT Employees and ESI Employees who are Retiree-Eligible.
In addition to the terms defined in the text hereof, as used in this Benefits Agreement, the following terms shall have the following meanings (applicable to both the singular and plural forms of the terms defined): Applicable Distribution Date: means (A) with respect to, respectively, ITT and ITT Individuals and Destinations and Destinations Individuals, the Destinations Distribution Date, and (B) with respect to ESI and ESI Individuals, the Earlier Distribution Date.
To the extent permitted under any applicable indemnity, health maintenance organization or stop-loss contracts, the newly established ITT and ESI health plans will waive waiting periods, pre-existing conditions to the extent waived or satisfied under the applicable ITT Health Plan, and credit deductible/copayments satisfied by ITT Employees and ESI Employees and their eligible dependents as of the Applicable Distribution Date.
Except as otherwise specifically provided herein, ITT, ESI and Destinations each will have in effect, as of the Applicable Distribution Date, benefit and compensation plans, programs, policies and arrangements for ITT Individuals, ESI Individuals and Destinations Individuals, respectively, which are comparable, in the aggregate, to those made available to such individuals immediately prior to the Applicable Distribution Date.
ITT and ESI each will be required to establish medical plans and arrangements, respectively, for ITT Employees and ESI Employees and their eligible dependents, such plans to be in effect as of the Applicable Distribution Date.
For a period of twenty-four months following the Applicable Distribution Date, ITT, Destinations and ESI agree that they will each provide severance benefits to ITT Employees, Destinations Employees and ESI Employees, respectively, on a basis no less favorable than the standard severance (without regard to any special severance paid in connection with ITT's 1997 restructuring or in the event of a change in control) in effect on the date hereof.