Common use of ERISA Information and Compliance Clause in Contracts

ERISA Information and Compliance. The Borrowers will promptly furnish to the Agent 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 Borrowers specifying the nature thereof, what action Borrowers 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 7 contracts

Samples: Credit Agreement (Canaan Energy Corp), Credit Agreement (3tec Energy Corp), Credit Agreement (Continental Resources Inc)

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ERISA Information and Compliance. The Borrowers Each Borrower and Guarantor will promptly furnish to the Agent 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 19541986, as amended, in connection with any Plan or any trust created thereunder, a written notice signed by the President or chief financial officer of Borrowers each Borrower specifying the nature thereof, what action Borrowers are such party 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 2 contracts

Samples: Credit Agreement (Parallel Petroleum Corp), Credit Agreement (Parallel Petroleum Corp)

ERISA Information and Compliance. The Borrowers will Borrower shall promptly furnish to the Subordinated Agent 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 19541986, as amended, in connection with any Plan or any trust created thereunder, a written notice signed by the president or the chief financial officer of Borrowers the Borrower, specifying the nature thereof, what action Borrowers are the 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 2 contracts

Samples: Subordinated Loan Agreement (Sierra Well Service Inc), Subordinated Loan Agreement (Basic Energy Services Inc)

ERISA Information and Compliance. The Borrowers will promptly -------------------------------- furnish to the Agent 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 Borrowers specifying the nature thereof, what action Borrowers are such 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 2 contracts

Samples: Loan Agreement (Gothic Energy Corp), Loan Agreement (Gothic Energy Corp)

ERISA Information and Compliance. The Borrowers will promptly furnish to the Agent 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 the Borrowers specifying the nature thereof, what action the Borrowers are taking or proposes propose 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 (Delta Petroleum Corp/Co)

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ERISA Information and Compliance. The Borrowers will promptly -------------------------------- furnish to the Agent 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 Borrowers specifying the nature thereof, what action Borrowers 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 (3tec Energy Corp)

ERISA Information and Compliance. The Borrowers Borrower will promptly furnish to the Agent 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 Borrowers Borrower specifying the nature thereof, what action Borrowers are 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: Credit Agreement (Southwest Royalties Holdings Inc)

ERISA Information and Compliance. The Borrowers will promptly furnish to the Agent 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 President or the chief financial officer of Borrowers such Borrower, specifying the nature thereof, what action Borrowers are such 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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