Common use of ERISA; Pension Plans Clause in Contracts

ERISA; Pension Plans. (1) 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 IRC, any 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 $25,000 occurs or exists in relation to the minimum funding requirements of the IRC, whether or not waived, with respect to any such employee benefit plans; or (3) any employee benefit 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

ERISA; Pension Plans. (1) Borrower Holdings or any of its Subsidiaries 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 IRC, any 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 $25,000 750,000 occurs or exists in relation to the minimum funding requirements of the IRCexists, whether or not waived, with respect to any such employee benefit plans; or (3) any employee benefit 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 EffectEffect and any such failure, deficiency or loss continues for more than twenty (20) consecutive days; or

ERISA; Pension Plans. (1) Borrower or any of its Affiliates Parent 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 such Person Borrower or Parent 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 $25,000 5,000,000 occurs or exists in relation to the minimum funding requirements of the IRCexists, whether or not waived, with respect to any such employee benefit plans; or (3) any employee benefit plan loses its plans lose their status as a qualified plan under the IRC which results in or could reasonably be expected to would result in a Material Adverse Effect; or