Common use of ERISA and Foreign Plans Clause in Contracts

ERISA and Foreign Plans. The Company shall (i) permit any Benefit Plan to fail to satisfy the “minimum funding standard” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived, (ii) fail, or permit any Controlled Group member to fail, to pay any required minimum required contribution or required installment under Section 430(j) of the Code on or before the due date for such contribution or installment, or (iii) permit a Termination Event to occur, except where such transactions, events, circumstances, or failures could not, individually or in the aggregate, reasonably be expected to result in liability to the Company or any of its Subsidiaries having a Material Adverse Effect.

Appears in 2 contracts

Samples: Credit Agreement (Meritor Inc), Credit Agreement (Meritor Inc)

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ERISA and Foreign Plans. The Company shall (i) permit any Benefit Plan to fail to satisfy the “minimum funding standard” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived, (ii) fail, or permit any Controlled Group member to fail, to pay any required minimum required contribution or required installment under Section 430(j) of the Code on or before the due date for such contribution or installmentinstallment , or (iii) permit a Termination Event to occur, except where such transactions, events, circumstances, or failures could not, individually or in the aggregate, reasonably be expected to result in liability to the Company or any of its Subsidiaries having a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Meritor Inc)

ERISA and Foreign Plans. The Company shall (i) permit to exist any Benefit Plan to fail to satisfy the “minimum accumulated funding standard” deficiency (as defined in Section Sections 302 of ERISA and 412 of the Code or Section 302 of ERISACode), with respect to any Benefit Plan, whether or not waived, (ii) fail, or permit any Controlled Group member to fail, to pay any required minimum installment or any other payment required contribution or required installment under Section 430(j) 412 of the Code on or before the due date for such contribution installment or installmentother payment, or (iii) permit a Termination Event to occur, except where such transactions, events, circumstances, or failures could not, individually or in the aggregate, reasonably be expected to result in liability to the Company or any of its Subsidiaries having a Material Adverse Effect. A Default shall be deemed “continuing” until cured or until waived in writing in accordance with Section 9.3.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

ERISA and Foreign Plans. The Company shall (i) permit to exist any Benefit Plan to fail to satisfy the “minimum accumulated funding standard” deficiency (as defined in Section Sections 302 of ERISA and 412 of the Code or Section 302 of ERISACode), with respect to any Benefit Plan, whether or not waived, (ii) fail, or permit any Controlled Group member to fail, to pay any required minimum installment or any other payment required contribution or required installment under Section 430(j) 412 of the Code on or before the due date for such contribution installment or installmentother payment, or (iii) permit a Termination Event to occur, except where such transactions, events, circumstances, or failures could not, individually or in the aggregate, reasonably be expected to result in liability to the Company or any of its Subsidiaries having a Material Adverse Effect.. (O)

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

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ERISA and Foreign Plans. The Company shall (i) permit to exist any Benefit Plan to fail to satisfy the “minimum accumulated funding standard” deficiency (as defined in Section Sections 302 of ERISA and 412 of the Code or Section 302 of ERISACode), with respect to any Benefit Plan, whether or not waived, (ii) fail, or permit any Controlled Group member to fail, to pay any required minimum installment or any other payment required contribution or required installment under Section 430(j) 412 of the Code on or before the due date for such contribution installment or installmentother payment, or (iii) permit a Termination Event to occur, except where such transactions, events, circumstances, or failures could not, individually or in the aggregate, reasonably be expected to result in liability to the Company or any of its Subsidiaries having a Material Adverse Effect.

Appears in 1 contract

Samples: Credit Agreement (Arvinmeritor Inc)

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