Common use of ERISA; Pension Plans Clause in Contracts

ERISA; Pension Plans. (1) Any Loan Party fails to make full payment when due of all amounts which, under the provisions of any employee benefit plans or any applicable provisions of the Internal Revenue Code as amended from time to time ("IRC"), any Loan Party is required to pay as contributions thereto and such failure results in a Material Adverse Effect; or (2) an accumulated funding deficiency in excess of $500,000 occurs or exists, whether or not waived, with respect to any employee benefit plans, for which Borrower is liable; or (3) any employee benefit plans lose their status as a qualified plan under the IRC which results in a Material Adverse Effect; or

ERISA; Pension Plans. (1) Any Loan Party Borrower or any of its Affiliates fails to make full payment when due of all amounts which, under the provisions of any employee benefit plans or any applicable provisions of the Internal Revenue Code as amended from time to time ("IRC"), any Loan Party such Person is required to pay as contributions thereto and such failure results in or is likely to result in a Material Adverse Effect; or (2) an accumulated funding deficiency in excess of $500,000 25,000 occurs or existsexists in relation to the minimum funding requirements of the IRC, whether or not waived, with respect to any such employee benefit plans, for which Borrower is liable; or (3) any employee benefit plans lose their plan loses its status as a qualified plan under the IRC which results in or could reasonably be expected to result in a Material Adverse Effect; or