Common use of Canadian Plans Clause in Contracts

Canadian Plans. Each Canadian Plan is, and has been, established, registered, qualified, administered and invested, in compliance with the terms thereof and all Applicable Law; and no Credit Party has received, within the last seven years, any notice from any Person questioning or challenging such compliance (other than in respect of any claim related solely to that Person), and no Credit Party has knowledge of any such notice from any Person questioning or challenging such compliance beyond the last seven years. All obligations under a Canadian Plan (whether pursuant to the terms thereof or Applicable Law) have been satisfied, and there are no outstanding defaults or violations thereunder by any Credit Party or any Subsidiary of any Credit Party nor does any Credit Party or any Subsidiary of any Credit Party have knowledge of any default or violation by any other party to any Canadian Plan. All contributions or premiums required to be paid to or in respect of each Canadian Plan have been paid in a timely fashion in accordance with the terms thereof and all Applicable Law, and no taxes, penalties or fees are owing or exigible under any Canadian Plan. There is no proceeding, action, suit or claim (other than routine claims for benefits) pending or threatened involving any Canadian Plan or its assets, and no facts exist which could reasonably be expected to give rise to any such proceeding, action, suit or claim (other than routine claims for benefits). No event has occurred respecting any Canadian Plan which would entitle any Person (without the consent of the Borrower) to wind-up or terminate any Canadian Plan, in whole or in part, or which could, reasonably be expected to adversely affect the tax status thereof. There are no going concern unfunded actuarial liabilities, past service unfunded liabilities or solvency deficiencies respecting any Canadian Plan. Any prior withdrawals or transfers of assets from any Canadian Plan have complied with the terms of the relevant Canadian Plan, any funding arrangement in respect of the Canadian Plan (including all predecessor documents thereto) and any Applicable Law or regulatory requirement.

Canadian Plans. Each (i) Except as disclosed in the financial statements required to be provided pursuant to this Agreement or as otherwise disclosed in writing from time to time to the Administrative Agent and to the extent that a Material Adverse Change would not occur as a result of the continuation of benefits during any actual, notional or deemed notice period after termination of employment of employees without cause, no Loan Party has any liability or contingent liability under a Canadian Welfare Plan to provide for benefits after termination of employment or retirement. (ii) Except to the extent that a Material Adverse Change would not occur as a result thereof: (a) each Canadian Employee Plan is, and has been, established, registered, qualified, administered and invested, invested in compliance in all respects with the terms thereof and all Applicable Law; applicable Laws, (b) all employer and no Credit Party has receivedemployee payments, within the last seven years, any notice from any Person questioning or challenging such compliance (other than in respect of any claim related solely to that Person), contributions and no Credit Party has knowledge of any such notice from any Person questioning or challenging such compliance beyond the last seven years. All obligations under a Canadian Plan (whether pursuant to the terms thereof or Applicable Law) have been satisfied, and there are no outstanding defaults or violations thereunder by any Credit Party or any Subsidiary of any Credit Party nor does any Credit Party or any Subsidiary of any Credit Party have knowledge of any default or violation by any other party to any Canadian Plan. All contributions or premiums required to be remitted or paid to or in respect of each Canadian Employee Plan and Canadian Statutory Plan have been remitted or paid in a timely fashion to or in respect of the Canadian Employee Plan or the Canadian Statutory Plan in accordance with the terms thereof and all Applicable Law, applicable Laws and no taxesLoan Party has applied to extend the period for funding, penalties (c) there is no claim by any governmental authority in Canada or fees are owing or exigible under by any Person pending or, to the knowledge of a Loan Party, threatened in respect of any Canadian Plan. There is no proceeding, action, suit or claim Employee Plan (other than routine claims for payment of benefits), (d) pending no event has occurred that has given rise to or threatened involving any Canadian Plan or its assets, and no facts exist which could reasonably be expected to give rise to any such proceeding, action, suit or claim (liability of a Loan Party under any Canadian Employee Plan other than routine claims for benefits). No those disclosed in the financial statements required to be provided pursuant to this Agreement; (e) with respect to any Canadian Pension Plan that is registered under any applicable Laws, no event has occurred respecting any and no condition exists that has resulted or could reasonably be expected to result in that Canadian Pension Plan which would having its registration revoked, or entitle any Person (without the consent of the Borrowerother than a Loan Party) to wind-terminate or wind up or terminate any that Canadian Plan, Pension Plan (in whole or in part), or which couldresult in that Canadian Pension Plan being placed under the administration of any governmental authority, reasonably or result in a Loan Party being required to pay any taxes or penalties under any applicable Laws; (f) no changes have occurred in respect of the funding or financial condition of any Canadian Pension Plan since the date of its most recent financial statements, accounting statements, actuarial reports and other materials required to be expected provided pursuant to adversely affect the tax status thereof. There are no this Agreement; and (g) each Canadian Pension Plan is fully funded, on a going concern unfunded actuarial liabilitiesbasis and a solvency basis, past service unfunded liabilities or solvency deficiencies respecting any Canadian Plan. Any prior withdrawals or transfers of assets from any Canadian Plan have complied in accordance with the terms of the relevant Canadian Pension Plan and the requirements of applicable Laws. (iii) Except to the extent a Material Adverse Change would not occur as a result thereof, during the last twelve (12) consecutive months, (a) no steps have been taken by a Loan Party or a governmental authority in Canada to terminate or wind up a Canadian Pension Plan (wholly or in part) that could result in a Loan Party being required to make additional contributions to the Canadian Pension Plan, and (b) no condition exists and no event has occurred with respect to any funding arrangement Canadian Pension Plan or Canadian Statutory Plan that might result in respect an increase in the amount of liability of a Loan Party over, or the incurrence by a Loan Party of any liability in addition to, the liability of the Canadian Plan (including all predecessor documents thereto) and Loan Party prior to the existence of such condition or the occurrence of such event, or that might result in any Applicable Law fine or regulatory requirementpenalty.

Canadian Plans. Each Canadian Plan is, and has been, established, registered, qualified, administered and invested, in compliance with (i) the terms thereof thereof, (ii) applicable pension benefits standards legislation and all Applicable Lawthe Income Tax Act (Canada); and no Credit Party Obligor has received, within in the last seven (7) years, any notice from any Person questioning or challenging such compliance (other than in respect of any claim related solely to that Person), and no Credit Party Obligor has knowledge of any such notice from any Person questioning or challenging such compliance beyond the last seven (7) years. All obligations under a Canadian Plan (whether pursuant to the terms thereof or Applicable Law) have been satisfied, and there are no outstanding defaults or violations thereunder by any Credit Party or any Subsidiary of any Credit Party Obligor nor does any Credit Party or Obligor have any Subsidiary of any Credit Party have knowledge of any default or violation by any other party to any Canadian Plan. All contributions or premiums required to be paid to or in respect of each Canadian Plan have been paid in a timely fashion in accordance with the terms thereof and all Applicable Law, and no taxes, penalties or fees are owing or exigible under any Canadian Plan. There is no proceeding, action, suit or claim (other than routine claims for benefits) pending or threatened involving any Canadian Plan or its assets, and no facts exist which could reasonably be expected to give rise to any such proceeding, action, suit or claim (other than routine claims for benefits). No event has occurred respecting any Canadian Plan which would entitle any Person (without the consent of the Borrowerrelevant Obligor) to wind-up or terminate any Canadian Plan, in whole or in part, or which could, could reasonably be expected to adversely affect the tax status thereof. There are no going concern unfunded actuarial liabilities, past service unfunded liabilities or solvency deficiencies respecting any Canadian Plan. Any prior withdrawals or transfers of assets from any No Canadian Plan have complied with is a multi-employer pension plan within the terms meaning of the relevant Canadian Plan, any funding arrangement in respect of the Canadian Plan (including all predecessor documents thereto) and any Applicable Law or regulatory requirementapplicable pension benefits standards legislation.