Canadian Employee Benefits. (i) Except as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, any overtime pay, vacation pay, premiums for unemployment insurance, health and welfare insurance premiums, accrued wages, salaries and commissions, severance pay and employee benefit plan payments have been fully paid by each Canadian Loan Party or, in the case of accrued unpaid overtime pay or accrued unpaid vacation pay for Canadian Employees, has been accurately accounted for in the books and records of each Canadian Loan Party or has been reported pursuant to the collateral reporting obligation pursuant to Section 5.2.
(ii) Except as disclosed on Schedule 4.11(b), no Canadian Guarantor has, maintains, administers or contributes to any Canadian Defined Benefit Plan or has any liability in respect of any Canadian Defined Benefit Plan.
(iii) Schedule 4.11(b) lists all the Canadian Pension Plans applicable to the Canadian Employees of each Canadian Loan Party in respect of employment in Canada and which are currently maintained or sponsored by each Canadian Loan Party or to which each Canadian Loan Party contributes or has an obligation to contribute.
(iv) Except as could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect, no improvements to any Canadian Pension Plan or any Canadian Employee Plan have been promised, except such improvements as are described in the collective bargaining agreements listed in Schedule 4.11(b), and no amendments or improvements to a Canadian Pension Plan or Canadian Employee Plan will be made or promised by any Canadian Loan Party unless made or promised in the ordinary course of business and consistent with past practices.
(v) Except as disclosed in Schedule 4.11(b), no Canadian Loan Party provides benefits to retired Canadian Employees or to beneficiaries or dependents of retired Canadian Employees.
(vi) All funding obligations regarding the Canadian Pension Plans and the Canadian Employee Plans (including current service contributions and special payments, as applicable) have been satisfied, there are no outstanding defaults or violations by any party to any Canadian Pension Plan and any Canadian Employee Plan and no taxes, penalties or fees are owing or exigible under any of the Canadian Employee Plans, except which could not reasonably be expected to result in a Material Adverse Effect. To the best knowledge of each Canadian Loan Party, no fact or circumstance e...
Canadian Employee Benefits. (a) Except as could not reasonably be expected to have a Material Adverse Effect, each Canadian Credit Party has complied in all material respects with all applicable laws regarding each Plan (including, where applicable, the Income Tax Act (Canada)); and each Plan is, and has been, maintained and administered in substantial compliance with its terms, applicable collective bargaining agreements, and all applicable laws (including, where applicable, the Income Tax Act (Canada)).
(b) There exists no material outstanding liability of any Canadian Credit Party with respect to any Plan that has been terminated.
(c) Full payment when due has been made of all amounts which any Canadian Credit Party is required under the terms of each Plan or applicable law to have paid as contributions to such Plan (excluding any nonpayment involving an amount that is not material), and except with respect to the Plans set out on Schedule 5.10, no funding deficiency, whether or not waived, resulting from the action or inaction of any Canadian Credit Party exists with respect to any Plan which is a registered pension plan.
(d) Each Plan relating to a Canadian Credit Party is funded, on a going concern basis, in accordance with its terms, all regulatory and administrative requirements and applicable law, except to the extent any failure to do so could not reasonably be expected to have a Material Adverse Effect. Any assessments owed to the Pension Benefits Guarantee Fund established under the Pension Benefits Act (Ontario), or other assessments or payments required under similar legislation in any other jurisdiction, have been paid when due.
Canadian Employee Benefits. (a) Except as could not reasonably be expected to have a Material Adverse Effect (1) each Canadian Credit Party has complied in all material respects with all applicable laws regarding each Plan (including, where applicable, the Employment Pension Plans Act (Alberta) and the Income Tax Act (Canada)); or (2) each Plan is, and has been, maintained and administered in substantial compliance with its terms, applicable collective bargaining agreements, and all applicable laws (including, where applicable, the Employment Pension Plans Act (Alberta) and the Income Tax Act (Canada)).
(b) There exists no material outstanding liability of any Canadian Credit Party with respect to any Plan that has been terminated.
(c) Except for the funding deficiency in the Prudential Steel, Ltd. Hourly Plan which deficiency was $2,158,000 at December 31, 2001, full payment when due has been made of all amounts which any Canadian Credit Party is required under the terms of each Plan or applicable law to have paid as contributions to such Plan (excluding any nonpayment involving an amount that is not material), and no accumulated funding deficiency, whether or not waived, resulting from the action or inaction of any Canadian Credit Party exists with respect to any Plan.
(d) Each Plan relating to a Canadian Credit Party is fully funded, on a going concern basis, in accordance with its terms and regulatory requirements as outlined by the Employment Pension Plans Act (Alberta), administrative requirements of the Superintendent of Pensions of Alberta and the most recent actuarial report filed with the Superintendent of Pensions of Alberta in respect of such Plan, as and to the extent applicable, except to the extent any failure to do so could not reasonably be expected to have a Material Adverse Effect.
(e) No Canadian Credit Party sponsors, maintains or contributes to, or has at any time sponsored, maintained or contributed to any "specified multi-employer plan" (as defined in the Employment Pension Plans Act (Alberta).
Canadian Employee Benefits. (a) Cause the Canadian Pension Plans to be duly registered under the Income Tax Act (Canada) and any other applicable laws which require registration and cause such Canadian Pension Plans to be administered in accordance with the Income Tax Act (Canada) and such other applicable law and maintain such registered status.
(b) Cause each Loan Party and its Subsidiaries to perform its obligations (including fiduciary, funding, investment and administration obligations) required to be performed in connection with the Canadian Pension Plans and cause the funding agreements therefor to be performed on a timely basis.
(c) Cause all contributions or premiums required to be made or paid by the Loan Parties and their Subsidiaries to the Canadian Pension Plans to be made or paid on a timely basis in accordance with the terms of such plans and all applicable laws.
Canadian Employee Benefits. Borrower will not, and will not permit any of its Subsidiaries to:
(a) establish, maintain, sponsor, administer, contribute to, participate in or assume or incur any liability in respect of any Canadian Defined Benefit Plan or amalgamate with any Person if such Person, sponsors, administers, contributes to, participates in or has any liability in respect of, any Canadian Defined Benefit Plan other than a Canadian Multi-Employer Plan, unless a Canadian Priority Payables Reserve for unremitted and due pension plan contributions or wind-up deficiency amounts has been established.
(b) terminate any Canadian Pension Plan in a manner, or take any other action with respect to any Canadian Pension Plan, which would reasonably be expected to result in a Material Adverse Effect, or
(c) fail to make full payment when due of any amounts, under the provisions of any Canadian Pension Plan, any agreement relating thereto or applicable law if such failure would reasonably be expected to result in a Material Adverse Effect.
Canadian Employee Benefits. The Borrower will not, or will not permit any of its Restricted Subsidiaries to:
(a) establish, maintain, sponsor, administer, contribute to, participate in or assume or incur any liability in respect of any Canadian Defined Benefit Plan or amalgamate with any Person if such Person, sponsors, administers, contributes to, participates in or has any liability in respect of, any Canadian Defined Benefit Plan other than a Canadian Multi-Employer Plan,
(b) terminate any Canadian Pension Plan in a manner, or take any other action with respect to any Canadian Pension Plan, which would reasonably be expected to result in a Material Adverse Effect, or
(c) fail to make full payment when due of any amounts, under the provisions of any Canadian Pension Plan, any agreement relating thereto or applicable law if such failure would reasonably be expected to result in a Material Adverse Effect.
Canadian Employee Benefits. (a) Cause the Canadian Pension Plans to be duly registered under the Income Tax Act (Canada) and any other applicable laws which require registration and cause such Canadian Pension Plans to be administered in accordance with the Income Tax Act (Canada) and such other applicable law and maintain such registered status.
(b) To the extent authorized by the Chapter 11 Cases or the CCAA Recognition Proceedings, cause each Loan Party and its Subsidiaries to perform its obligations (including fiduciary, funding, investment and administration obligations) required to be performed in connection with the Canadian Pension Plans and cause the funding agreements therefor to be performed on a timely basis.
(c) Cause all contributions or premiums required to be made or paid by the Loan Parties and their Subsidiaries to the Canadian Pension Plans to be made or paid on a timely basis in accordance with the terms of such plans and all applicable laws.
Canadian Employee Benefits. Incur any material liability or obligation under the Canadian Employee Benefit Laws or establish any pension plan, deferred compensation plan, retirement income plan, stock option or stock purchase plan, profit sharing plan, bonus plan or policy, employee group insurance plan, program, policy or practice, formal or informal, with respect to their respective employees in Canada, that in any such case, is equivalent or substantially equivalent to a "defined benefit plan" (as defined in Section 3(35) of ERISA).
Canadian Employee Benefits. (a) Section 4.25(a) of the Disclosure Schedule contains a complete list of all Canadian employee benefit plans, programs, agreements, personnel policies, commitments or arrangements (whether or not in writing) maintained by, contributed to, or binding upon the Company or any of its Subsidiaries that cover current and former employees of the Company or any of its Subsidiaries, including all retirement, pension, profit sharing, deferred compensation, severance pay, healthcare, dental, disability, life insurance, stock option, stock bonus and stock purchase benefit plans (collectively referred to in this Section 4.25(a) as the “Canadian Plans”). Copies of all written Canadian Plans and, to the extent applicable and in existence, related trust agreements, summary plan descriptions, actuarial reports and Canada Revenue Agency determination letters have been provided to Buyer Group or made available in the Data Room. Neither the Company nor the Subsidiaries maintain, sponsor, participate or contribute to any benefit pension plan with respect to such employees.
(b) Each Canadian Plan has been maintained, operated and administered in all material respects in accordance with its terms and all applicable Laws.
(c) The Company and its Subsidiaries have complied in all material respects with all of the terms of the pension and other employee compensation and benefit obligations of Company and its Subsidiaries, as the case may be, including the provisions of any collective agreements, funding and investment contracts or obligations applicable thereto, arising under or relating to Canadian Plans and all Canadian Plans maintained by, contributed to or binding upon the Company or any of its Subsidiaries are in good standing with such regulatory authorities as may be applicable and neither the Company nor any of its Subsidiaries have received from any such regulatory authority any written notice of non-compliance or failure to be in good standing with respect to any such Canadian Plan, including notice of any pending or threatened administrative or other proceeding against or involving a Canadian Plan.
(d) There is no litigation or administrative or other proceeding pending or, or to the Knowledge of Seller, threatened against, or involving, a Canadian Plan which if resolved adversely, individually or in the aggregate, are or. would reasonably be expected to be material and adverse to the Company or any of its Subsidiaries.
(e) All reports and descriptions with respect to ...
Canadian Employee Benefits. Except as could not reasonably be expected to have a Material Adverse Effect (1) each Canadian Credit Party has complied in all material respects with all applicable laws regarding each Plan (including, where applicable, the Employment Pension Plans Act (Alberta) and the Income Tax Act (Canada)); or (2) each Plan is, and has been, maintained and administered in substantial compliance with its terms, applicable collective bargaining agreements, and all applicable laws (including, where applicable, the Employment Pension Plans Act (Alberta) and the Income Tax Act (Canada)).
