Common use of ERISA Actions Clause in Contracts

ERISA Actions. Notify the Lender promptly in writing in the event Borrower knows or has reason to know that any termination event (a reportable event as defined in Section 4043(b) of ERISA) or any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or for the appointment of a trustee to administer any plan has occurred.

ERISA Actions. Notify the Lender Bank promptly in writing in the event Borrower knows or has reason to know that any termination event (a reportable event as defined in Section 4043(b) of ERISA) or any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or for the appointment of a trustee to administer any plan has occurred.