Common use of Arrearages and Employment Disputes Clause in Contracts

Arrearages and Employment Disputes. Except as disclosed in the Miracle Industries Disclosure Letter, neither Miracle Industries nor Hydro-Spray or Indy Ventures is liable for any arrearage of wages, any accrued or vested vacation pay or any tax or penalty for failure to comply with any Applicable Law relating to employment or labor above the level accrued for or reserved against on the June 30, 1997 balance sheet included in the Miracle Industries Financial Statements, and there is no controversy pending, threatened or in prospect between Miracle Industries or Hydro-Spray or Indy Ventures and any of their respective Employees nor is there any basis for any such controversy. There is no unfair labor practice charge or complaint currently pending against Miracle Industries or Hydro-Spray or Indy Ventures with respect to or relating to any of their respective Employees before the National Labor Relations Board or any other agency having jurisdiction over such matters and no charges or complaints are currently pending against Miracle Industries or Hydro-Spray or Indy Ventures before the Equal Employment Opportunity Commission or any state or local agency having responsibility for the prevention of unlawful employment practices. There are no actions, suits or claims pending, including proceedings before the IRS, the DOL or the PBGC, with respect to any Employee Benefit Plan, Benefit Arrangement or any administrator or fiduciary thereof, other than benefit claims arising in the normal course of operation of such Employee Benefit Plans or Benefit Arrangements, and, to the knowledge of the management of Miracle Industries, no Employee Benefit Plan or Benefit Arrangement is under audit or investigation by any Governmental Authority.

Arrearages and Employment Disputes. Except as disclosed in the Miracle Industries WE JAC Disclosure Letter, neither Miracle Industries WE JAC nor Hydro-Spray or Indy Ventures any of its Subsidiaries is liable for any arrearage of wages, any accrued or vested vacation pay or any tax or penalty for failure to comply with any Applicable Law relating to employment or labor above the level accrued for or reserved against on the June 30, 1997 balance sheet included in the Miracle Industries WE JAC Financial Statements, and there is no controversy pending, threatened or in prospect between Miracle Industries WE JAC or Hydro-Spray or Indy Ventures any of its Subsidiaries and any of their respective Employees nor is there the management of WE JAC aware of any basis for any such controversy. There is no unfair labor practice charge or complaint currently pending against Miracle Industries WE JAC or Hydro-Spray or Indy Ventures any of its Subsidiaries with respect to or relating to any of their respective Employees before the National Labor Relations Board or any other agency having jurisdiction over such matters and no charges or complaints are currently pending against Miracle Industries WE JAC or Hydro-Spray or Indy Ventures any of its Subsidiaries before the Equal Employment Opportunity Commission or any state or local agency having responsibility for the prevention of unlawful employment practices. There are no actions, suits or claims pending, including proceedings before the IRS, the DOL or the PBGC, with respect to any Employee Benefit Plan, Benefit Arrangement or any administrator or fiduciary thereof, other than benefit claims arising in the normal course of operation of such Employee Benefit Plans or Benefit Arrangements, and, to the knowledge of the management of Miracle IndustriesWE JAC, no Employee Benefit Plan or Benefit Arrangement is under audit or investigation by any Governmental Authority.

Arrearages and Employment Disputes. Except as disclosed in Neither ITS PLC nor any of the Miracle Industries Disclosure Letter, neither Miracle Industries nor Hydro-Spray or Indy Ventures ITS Subsidiaries is liable for any arrearage of wages, any accrued or vested vacation pay or any tax or penalty for failure to comply with any Applicable Law relating to employment or labor above the level accrued for or reserved against on the June 30, 1997 balance sheet included in the Miracle Industries Financial StatementsITS Balance Sheet, and there is no controversy pending, threatened or in prospect between Miracle Industries ITS PLC or Hydro-Spray or Indy Ventures any of the ITS Subsidiaries and any of their respective Employees nor is there the management of ITS PLC aware of any basis for any such controversy. There is no unfair labor practice charge or complaint currently pending against Miracle Industries ITS PLC or Hydro-Spray or Indy Ventures any of the ITS Subsidiaries with respect to or relating to any of their respective Employees before the National Labor Relations Board or any other agency having jurisdiction over such matters and no charges or complaints are currently pending against Miracle Industries ITS PLC or Hydro-Spray or Indy Ventures any of the ITS Subsidiaries before the Equal Employment Opportunity Commission or any state or local agency having responsibility for the prevention of unlawful employment practices. There are no actions, suits or claims pending, including proceedings before the IRS, the DOL or the PBGC, with respect to any Employee Benefit Plan, Benefit Arrangement or any administrator or fiduciary thereof, other than benefit claims arising in the normal course of operation of such Employee Benefit Plans or Benefit Arrangements, and, to the knowledge of the management of Miracle IndustriesITS PLC, no Employee Benefit Plan or Benefit Arrangement is under audit or investigation by any Governmental Authority.