Employee Benefit Plan Liability. As of the Closing Date and as of each Transfer Date, as applicable, (A) neither Bluegreen nor any of its Commonly Controlled Affiliates has or have incurred any “accumulated funding deficiency” (as such term is defined under ERISA and the Code for such years), whether or not waived, with respect to any Employee Pension Benefit Plan (as defined below) that either individually or in the aggregate could Cause a Material Adverse Effect (as defined below), and, to Bluegreen’s Knowledge, no event has occurred or circumstance exists that may result in any accumulated funding deficiency of any such plan that either individually or in the aggregate could Cause a Material Adverse Effect; (B) neither Bluegreen nor any of its Commonly Controlled Affiliates has any unpaid “minimum required contribution” (as such term is defined under ERISA and the Code) with respect to any Employee Pension Benefit Plan, whether or not such unpaid minimum required contribution is waived, that either individually or in the aggregate could Cause a Material Adverse Effect, and, to Bluegreen’s Knowledge for any such year, no event has occurred or circumstance exists that resulted or may result in any unpaid minimum required contribution as of the last day of the current plan year of any such plan that either individually or in the aggregate could Cause a Material Adverse Effect; (C) Bluegreen and each of its Commonly Controlled Affiliates have no outstanding liability for any undisputed contribution required under any Bluegreen Multiemployer Plan (as defined below) that either individually or in the aggregate could Cause a Material Adverse Effect; and (D) Bluegreen and each of its Commonly Controlled Affiliates have no outstanding liability for any disputed contribution required under any Bluegreen Multiemployer Plan that either individually or in the aggregate could Cause a Material Adverse Effect. As of the Closing Date and as of each Transfer Date, as applicable, to Bluegreen’s Knowledge (1) neither Bluegreen nor any of its Commonly Controlled Affiliates has incurred any Withdrawal Liability (as defined below) that either individually or in the aggregate could Cause a Material 10
Employee Benefit Plan Liability. As of the Amendment Closing Date and each Funding Date and Transfer Date, as applicable, (i) no “accumulated funding deficiency” (as such term is defined under ERISA and the Code), whether or not waived, exists with respect to any “employee pension benefit plan” (as such term is defined under ERISA) sponsored, maintained or contributed to by the Depositor or any of its Affiliates with respect to any plan year beginning prior to January 1, 2011, and, to the Depositor’s knowledge, no event has occurred or circumstance exists that may result in an accumulated funding deficiency as of the last day of any plan year beginning prior to January 1, 2011; (ii) no unpaid “minimum required contribution” (as such term is defined under ERISA and the Code), whether or not such funding deficiency is waived, exists with respect to any employee pension benefit plan sponsored, maintained or contributed to by the Depositor or any of its Affiliates with respect to any plan year beginning after December 31, 2010, and, to the Depositor’s knowledge, no event has occurred or circumstance exists that may result in an unpaid minimum required contribution as of the last day of the plan year beginning after December 31, 2010 of any such plan; (iii) the Depositor and each of its Affiliates has made all contributions required under each multiemployer plan (as such term is defined under ERISA) to which the Depositor or any of its Affiliates contributes or in which the Depositor or any of its Affiliates participates (a “Depositor Multiemployer Plan”); and (iv) neither the Depositor nor any of its Affiliates has withdrawn from any Depositor Multiemployer Plan with respect to which there is any outstanding liability and, to the Depositor’s knowledge, no event has occurred or circumstance exists that presents a risk of the occurrence of any withdrawal from, or the partition, termination, reorganization or insolvency of, any Depositor Multiemployer Plan that could result in any liability to the Depositor.
Employee Benefit Plan Liability. As of the Closing Date and each Funding Date, as applicable, (i) no "accumulated funding deficiency" (as such term is defined under ERISA and the Code), whether or not waived, exists with respect to any "employee pension benefit plan" (as such term is defined under ERISA) sponsored, maintained or contributed to by the Seller or any of its Affiliates, and, to the Seller's Knowledge, no event has occurred or circumstance exists that may result in an accumulated funding deficiency as of the last day of the current plan year of any such plan; (ii) the Seller and each of its Affiliates has made all contributions required under each multiemployer plan (as such term is defined under ERISA) (a "Multiemployer Plan") to which the Seller or any of its Affiliates contributes or in which the Seller or any of its Affiliates participates (a "Seller Multiemployer Plan"); and (iii) neither the Seller nor any of its Affiliates has withdrawn from any Multiemployer Plan with respect to which there is any outstanding liability and, to the Seller's Knowledge, no event has occurred or circumstance exists that presents a risk of the occurrence of any withdrawal from, or the partition, termination, reorganization or insolvency of, any Seller Multiemployer Plan that could result in any liability to the Seller.
Employee Benefit Plan Liability. As of the Closing Date and as of each Transfer Date, as applicable, (A) neither the Depositor nor any of its Commonly Controlled Affiliates has or have incurred any “accumulated funding 8
Employee Benefit Plan Liability. As of the Closing Date and as of each Transfer Date, as applicable, (A) neither the Depositor nor any of its Commonly Controlled Affiliates has or have incurred any “accumulated funding deficiency” (as such term is defined under ERISA and the Code for such year), whether or not waived, with respect to any Employee Pension Benefit Plan (as defined below) that either individually or in the aggregate could Cause a Material Adverse Effect (as defined below), and, to the Depositor’s Knowledge, no event has occurred or circumstance exists that may result in any accumulated funding deficiency of any such plan that either individually or in the aggregate could Cause a Material Adverse Effect; (B) neither the Depositor nor any of its Commonly 8
Employee Benefit Plan Liability. As of the Closing Date and as of each Transfer Date, as applicable, (A) neither Bluegreen nor any of its Commonly Controlled Affiliates has or have incurred any “accumulated funding deficiency” (as such term is defined 7
Employee Benefit Plan Liability. As of the Closing Date and as of each Transfer Date, as applicable, (A) with respect to plan years beginning before January 1, 2008, neither the Depositor nor any of its Commonly Controlled Affiliates incurred any “accumulated funding deficiency” (as such term was defined under ERISA and the Code for such year), whether or not waived, with respect to any Employee Pension Benefit Plan (as defined below) that either individually or in the aggregate could Cause a Material Adverse Effect (as defined
Employee Benefit Plan Liability. As of the Closing Date and as of each Transfer Date, as applicable, (A) no “accumulated funding deficiency” (as such term is defined under ERISA and the Code), whether or not waived, exists with respect to any “employee pension benefit plan” (as such term is defined under ERISA) sponsored, maintained or contributed to by Bluegreen or any of its Affiliates, and, to Bluegreen’s Knowledge, no event has occurred or circumstance exists that may result in an accumulated funding deficiency as of the last day of the current plan year of any such plan; (B) Bluegreen and each of its Affiliates has made all contributions required under each multiemployer plan (as such term is defined under ERISA) (a “Multiemployer Plan”) to which Bluegreen or any of its Affiliates contributes or in which Bluegreen or any of its Affiliates participates (a “Bluegreen Multiemployer Plan”); and (C) neither Bluegreen nor any of its Affiliates has withdrawn from any Multiemployer Plan with respect to which there is any outstanding liability and, to Bluegreen’s Knowledge, no event has occurred or circumstance exists that presents a risk of the occurrence of any withdrawal from, or the partition, termination, reorganization or insolvency of, any Bluegreen Multiemployer Plan that could result in any liability to Bluegreen.
Employee Benefit Plan Liability. As of the Closing Date and as of each Funding Date, as applicable, (A), neither the Depositor nor any of its Commonly Controlled Affiliates has or has incurred any “accumulated funding deficiency” (as such term is defined under ERISA and the Code), whether or not waived, with respect to any
Employee Benefit Plan Liability. Prompt written notice in the event that the undersigned or any ERISA Affiliate shall receive a demand letter from the PBGC notifying the undersigned or any ERISA Affiliate of any final decision finding liability and the date by which such liability must be paid, together with a copy of such letter and a certificate of the president or chief financial officer of the undersigned setting forth the action which the undersigned or any ERISA Affiliate proposes to take with respect thereto.
