Common use of ERISA Information and Compliance Clause in Contracts

ERISA Information and Compliance. Borrower will promptly furnish to the Banks immediately upon becoming aware of the occurrence of any "reportable event", as such term is defined in Section 4043 of ERISA, or of any "prohibited transaction", as such term is defined in Section 4975 of the Internal Revenue Code of 1954, as amended, in connection with any Plan or any trust created thereunder, a written notice specifying the nature thereof, what action Borrower is taking or proposes to take with respect thereto, and, when known, any action taken by the Internal Revenue Service with respect thereto.

Appears in 3 contracts

Samples: Loan Agreement (Clayton Williams Energy Inc /De), Loan Agreement (Clayton Williams Energy Inc /De), Loan Agreement (Clayton Williams Energy Inc /De)

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ERISA Information and Compliance. The Borrower will promptly furnish to the Banks Bank immediately upon becoming aware of the occurrence of any "reportable event", as such term is defined in Section 4043 of ERISA, or of any "prohibited transaction", as such term is defined in Section 4975 of the Internal Revenue Code of 1954, as amended, in connection with any Plan or any trust created thereunder, a written notice signed by the chief financial officer of Borrower specifying the nature thereof, what action Borrower is are taking or proposes to take with respect thereto, and, when known, any action taken by the Internal Revenue Service with respect thereto.

Appears in 1 contract

Samples: Credit Agreement (Panhandle Oil & Gas Inc)

ERISA Information and Compliance. Borrower will promptly furnish to the Banks immediately upon becoming aware of the occurrence of any "reportable event", as such term is defined in Section 4043 of ERISA, or of any "prohibited transaction", as such term is defined in Section 4975 of the Internal Revenue Code of 1954, as amended, in connection with any Plan or any trust created thereunder, a written notice specifying the nature thereof, what action Borrower is taking or proposes to take with respect thereto, and, when known, any action taken by the Internal Revenue Service with respect thereto.

Appears in 1 contract

Samples: Loan Agreement (Clayton Williams Energy Inc /De)

ERISA Information and Compliance. The Borrower will promptly furnish to the Banks Bank immediately upon becoming aware of the occurrence of any "reportable event", as such term is defined in Section 4043 of ERISA, or of any "prohibited transaction", as such term is defined in Section 4975 of the Internal Revenue Code of 1954, as amended, in connection with any Plan or any trust created thereunder, a written notice signed or the chief financial officer of Borrower specifying the nature thereof, what action Borrower is taking or proposes to take with respect thereto, and, when known, any action taken by the Internal Revenue Service with respect thereto.

Appears in 1 contract

Samples: Loan Agreement (Maynard Oil Co)

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ERISA Information and Compliance. Borrower will promptly furnish to the Banks Bank immediately upon becoming aware of the occurrence of any "reportable event", ," as such term is defined in Section 4043 of ERISA, or of any "prohibited transaction", as such term is defined in Section 4975 of the Internal Revenue Code of 1954, as amended, in connection with any Plan or any trust hug created thereunder, a written notice signed by the President or the chief financial officer of the Borrower, specifying the nature thereof, what action Borrower is taking or proposes to take with respect thereto, and, when known, any action taken by the Internal Revenue Service with respect thereto.

Appears in 1 contract

Samples: Loan Agreement (Panhandle Royalty Co)

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