Common use of Canadian Benefit and Pension Plans Clause in Contracts

Canadian Benefit and Pension Plans. Permit the Canadian Borrower or any of its Subsidiaries to directly, or indirectly, (a) terminate or cause to terminate, in whole or in part, or initiate the termination of, in whole or in part, any Canadian Pension Plan so as to result in any liability to any of them which could have a Material Adverse Effect, (b) permit to exist any event or condition in respect of any Canadian Pension Plan which presents the risk of liability of the Canadian Borrower or any of its Subsidiaries which could have a Material Adverse Effect, (c) enter into any new Canadian Pension Plan or Canadian Benefit Plan or modify any such existing plans so as to increase its obligations thereunder which could result in any liability to any of them and which could have a Material Adverse Effect; (d) permit the greater of the going concern unfunded liability or the solvency deficiency under Canadian Pension Plans, but only to the extent they are permitted to remain unfunded under Requirements of Law, to exceed (in the aggregate, taking into account all Canadian Pension Plans of the Canadian Borrower and its Subsidiaries) C$5,000,000, (e) fail to make minimum required contributions to amortize any funding deficiencies under a Canadian Pension Plan within the time period set out in any Requirements of Law, (f) fail to make a required contribution under any Canadian Pension Plan or Canadian Benefit Plan which could result in the imposition of a Lien upon the assets of any of the Canadian Borrower or any of its Subsidiaries within 30 days after the date such payment becomes due, unless such payment is being contested pursuant to Section 9.3; (g) make any improper withdrawals or applications of assets of a Canadian Pension Plan or Canadian Benefit Plan or (h) accept payment of any amount from any Canadian Pension Plan.

Canadian Benefit and Pension Plans. Permit the Canadian Borrower or any of its Subsidiaries to directlyNo Loan Party shall, directly or indirectly, : (a) terminate or cause to terminate, in whole or in part, or initiate the termination of, in whole or in part, any Canadian Pension Plan so as to result in any liability to any of them Loan Party which could have a Material Adverse Effect, ; (b) permit to exist any event or condition in respect of any Canadian Pension Plan which presents the risk of liability of the Canadian Borrower or to any of its Subsidiaries Loan Party which could have a Material Adverse Effect, ; (c) enter into any new Canadian Pension Plan or Canadian Benefit Plan or modify any such existing plans so as to increase its obligations thereunder which could result in any liability to any of them Loan Party and which could have a Material Adverse Effect; ; (d) permit the greater of the going concern unfunded liability or and the solvency deficiency under each Canadian Pension PlansPlan, but only to the extent they are permitted to remain unfunded under Requirements of LawApplicable Laws, to exceed (exceed, in the aggregate, taking into account all Canadian Pension Plans of the Canadian Borrower and its Subsidiaries) C$5,000,000all Loan Parties, $300,000; (e) fail to make minimum required contributions to amortize any funding deficiencies under a Canadian Pension Plan within the time period set out in any Requirements of Law, Applicable Laws; (f) fail to make a required contribution under any Canadian Pension Plan or Canadian Benefit Plan which could result in the imposition of a Lien upon the assets of any of the Canadian Borrower or any of its Subsidiaries Loan Party within 30 days after the date such payment becomes due, unless such payment is being contested pursuant to Section 9.3; 5.2; (g) make any improper withdrawals or applications of assets of a Canadian Pension Plan or Canadian Benefit Plan or Plan; (h) accept payment of any amount from any Canadian Pension Plan; or (i) merge any Canadian Pension Plan with any other pension plan.