ERISA Defaults. If, with respect to any Plan, (i) there has occurred a Reportable Event being considered by the PBGC which may reasonably result in any material liability to the PBGC with respect to any Plan, (ii) a Plan has been terminated, (iii) a trustee has been appointed by a United States District Court to administer a Plan, (iv) a PBGC or any other person has instituted proceedings to terminate a Plan or to appoint a trustee to administer any such Plan, (v) any Loan Party or any Affiliate has withdrawn, completely or partially, from any Plan, (vi) any Loan Party or any Affiliate has incurred secondary liability for withdrawal liability payments under any Plan or (vii) a Plan has failed to meet the minimum funding standards established under the Code or ERISA.
ERISA Defaults. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of any Loan Party or any Subsidiary under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $250,000, (ii) the existence of any Lien under Section 430(k) or Section 6321 of the Code or Section 303(k) or Section 4068 of ERISA on any assets of a Loan Party, or (iii) a Loan Party or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $250,000.
ERISA Defaults. The Notes will automatically become due and payable on the occurrence an insolvency or bankruptcy event of default, or on the election of the Required Holders during the continuance of any other Event of Default. If:
(a) because of a change in law, any applicable regulator ceases to use a Liability Management Rating system as a means of determining compliance with abandonment and reclamation policies in any one or more of the applicable Material Jurisdiction,
(b) the method of calculation of any such Liability Management Rating changes in any material manner in any one or more of the applicable material jurisdiction(s), or
(c) the threshold for which (i) license transfers of regulated properties permitted under a licensee liability regime in any one or more of the applicable material jurisdiction(s) changes or
ERISA Defaults. Section 11(j) of the Existing Note Purchase Agreement is hereby amended by deleting the reference to “$15,000,000” therein and inserting “$60,000,000” in lieu thereof.
ERISA Defaults. If, with respect to any Plan, (i) there has occurred a Reportable Event reported to or which should be reported to the PBGC which may reasonably result in any material liability to the PBGC with respect to any Plan, (ii) a Plan has been terminated with insufficient assets to satisfy the requirements of Section 4041(b) or ERISA, (iii) a trustee has been appointed by a United States District Court to administer a Plan, (iv) the PBGC or any other Person has instituted proceedings to terminate a Plan or to appoint a trustee to administer any such Plan, (v) any Loan Party or any Affiliate has withdrawn, completely or partially, from any Plan, (vi) any Loan Party or any Affiliate has incurred secondary liability for withdrawal liability payments under any Plan or (vii) a Plan has failed to meet the minimum funding standards established under the Code or ERISA and such event is not being contested by such Loan Party in compliance with Section 7.11, if the result of any or all thereof is that one or more Loan Parties incurs a liability or liabilities in excess of $500,000 in the aggregate or a Material Adverse Effect.
ERISA Defaults. (A) If any of the following events occurs:
(1) any Plan shall fail to satisfy the minimum funding standards required for any Plan year or part thereof under Section 412 of the Code or Section 302 of ERISA or an application may reasonably be expected to be or has been made for a waiver of modification of the minimum funding standard (including any required installment payments) or an extension of any amortization period under Section 412 of the Code or Section 303 or 304 of ERISA with respect to a Plan or Section 303 or 304 of ERISA with respect to a Plan,
(2) an ERISA Event with respect to any Plan has occurred,
(3) a contributing sponsor (as defined in Section 4001(a)(13) of ERISA) of a Plan subject to Title IV of ERISA is subject to the advance reporting requirement of PBGC Regulation Section 4043.61 (without regard to subparagraph (b)(1) thereof), and an event described in subsection .62, .63, .64, .65, .66, .67 or .68 of PBGC Regulation Section 4043 is reasonably expected to occur with respect to such Plan within the following 30 days,
(4) a Plan has been or may be terminated, reorganized, partitioned or declared insolvent under Title IV of ERISA,
(5) any Obligor or any ERISA Affiliate has incurred or is likely to incur any liability to or on account of an employee benefit plan under Section 409 of ERISA,
(6) any Obligor or any ERISA Affiliate has incurred or is reasonably likely to incur any material increase in liability (including any indirect, contingent or secondary liability) to or on account of the imposition of Withdrawal Liability by a Multiemployer Plan, the determination that a Multiemployer Plan is, or is expected to be, in reorganization within the meaning of Title IV of ERISA, or the termination of a Multiemployer Plan with the meaning of Title IV of ERISA, 148 150 (7) any contribution with respect to a Plan or Foreign Pension Plan has not been timely made, or
ERISA Defaults. There shall exist any Unfunded Liabilities under any Single Employer Plan or any Reportable Event shall occur in connection with any Plan.
ERISA Defaults. An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably be expected to result in liability of any Loan Party or any Subsidiary under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of $250,000, (ii) the existence of any Lien under Section 430(k) or Section 6321 of the Code or Section 303(k) or Section 4068 of ERISA on any assets of a Loan Party, or (iii) a Loan Party or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of $250,000. (s) Material Product Recall Defaults. Any product recall or similar event to remove any drugs or other products sold by any Loan Party from the market occurs, in each case to the extent such product recall results in a Material Adverse Effect. (t)
ERISA Defaults. If, with respect to any Plan, (i) there has --------------- occurred a Reportable Event being considered by the PBGC which may reasonably result in any material liability to the PBGC with respect to any Plan; (ii) a Plan has been terminated; (iii) a trustee has been appointed by a United States District Court to administer a Plan; (iv) a PBGC or any other person has instituted proceedings to terminate a Plan or to appoint a trustee to administer any such Plan; (v) either Telscape, the Borrower, any Significant Subsidiary, or any Affiliate has withdrawn, completely or partially, from any Plan; (vi) either Telscape, the Borrower, any Significant Subsidiary, or any Affiliate has incurred secondary liability for withdrawal liability payments under any Plan; or (vii) a Plan has failed to meet the minimum funding standards established under the Code or ERISA;
ERISA Defaults. The occurrence of any "ERISA Default", as that term is defined in Section 1 of Appendix II (ERISA Matters).
