Common use of ERISA Obligations Clause in Contracts

ERISA Obligations. To the best knowledge of each of the Credit Parties, all Employee Plans of the Credit Parties meet the minimum funding standards of Section 302 of ERISA, where applicable, and each such Employee Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue Code of 1986 is qualified. No withdrawal liability has been incurred under any such Employee Plans and no “Reportable Event” or “Prohibited Transaction” (as such terms are defined in ERISA), has occurred with respect to any such Employee Plans, unless approved by the appropriate Governmental Authority. To the best knowledge of each of the Credit Parties, the Credit Parties have promptly paid and discharged all obligations and liabilities arising under the ERISA of a character which if unpaid or unperformed might result in the imposition of a Lien against any of its properties or assets.

Appears in 16 contracts

Samples: Senior Secured Credit Facility Agreement (Pacific Ventures Group, Inc.), Senior Secured Credit Facility Agreement (Sack Lunch Productions Inc.), Senior Secured Credit Facility Agreement (Sack Lunch Productions Inc.)

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ERISA Obligations. To the best knowledge of each of the Credit PartiesParty’s officers’ and directors’ knowledge, all Employee Plans of the each Credit Parties Party meet the minimum funding standards of Section 302 of ERISA, where applicable, and each such Employee Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue Code of 1986 is qualified. No withdrawal liability has been incurred under any such Employee Plans and no “Reportable Event” or “Prohibited Transaction” (as such terms are defined in ERISA), has occurred with respect to any such Employee Plans, unless approved by the appropriate Governmental Authoritygovernmental agencies. To the best knowledge of each of the Credit PartiesParty’s officers’ and directors’ knowledge, the each Credit Parties have Party has promptly paid and discharged all obligations and liabilities arising under the ERISA of a character which if unpaid or unperformed might result in the imposition of a Lien against any of its properties or assets.

Appears in 8 contracts

Samples: Senior Secured Credit Facility Agreement, Senior Secured Revolving Credit Facility Agreement (Cd International Enterprises, Inc.), Senior Secured Revolving Credit Facility Agreement (Encore Brands, Inc.)

ERISA Obligations. To the best knowledge of each of the Credit Parties, all Employee Plans of the Credit Parties meet the minimum funding standards of Section 302 of ERISA, where applicable, and each such Employee Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue Code of 1986 is qualified. No withdrawal liability has been incurred under any such Employee Plans and no “Reportable Event” or “Prohibited Transaction” (as such terms are defined in ERISA), has occurred with respect to any such Employee Plans, unless approved by the appropriate Governmental Authority. To the best knowledge of each of the Credit Parties, the Credit Parties have promptly paid and discharged all obligations and liabilities arising under the ERISA of a character which if unpaid or unperformed might result in the imposition of a Lien against any of its properties or assets.

Appears in 2 contracts

Samples: Senior Secured Revolving Credit Facility Agreement (SRAX, Inc.), Senior Secured Revolving Credit Facility Agreement (Intelligent Highway Solutions, Inc.)

ERISA Obligations. To the best knowledge of each of the Credit PartiesParty’s officers’ and directors’ knowledge, all Employee Plans of the each Credit Parties meet Partymeet the minimum funding standards of Section 302 of ERISA, where applicable, and each such Employee Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue Code of 1986 is qualified. No withdrawal liability has been incurred under any such Employee Plans and no “Reportable Event” or “Prohibited Transaction” (as such terms are defined in ERISA), has occurred with respect to any such Employee Plans, unless approved by the appropriate Governmental Authoritygovernmental agencies. To the best knowledge of each of the Credit PartiesParty’s officers’ and directors’knowledge, the each Credit Parties have promptly Party haspromptly paid and discharged all obligations and liabilities arising under the ERISA of a character which if unpaid or unperformed might result in the imposition of a Lien against any of its properties or assets.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Facility Agreement (Revolutionary Concepts Inc)

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ERISA Obligations. To the best knowledge of each of the Credit Parties, all Employee Plans of the Credit Parties meet the minimum funding standards of Section 302 of ERISA, where applicable, and each such Employee Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue Code of 1986 is qualified. No withdrawal liability has been incurred under any such Employee Plans and no "Reportable Event" or "Prohibited Transaction" (as such terms are defined in ERISA), has occurred with respect to any such Employee Plans, unless approved by the appropriate Governmental Authority. To the best knowledge of each of the Credit Parties, the Credit Parties have promptly paid and discharged all obligations and liabilities arising under the ERISA of a character which if unpaid or unperformed might result in the imposition of a Lien against any of its properties or assets.

Appears in 1 contract

Samples: Senior Secured Revolving Credit Facility Agreement (Artec Global Media, Inc.)

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