Common use of ERISA Plan Clause in Contracts

ERISA Plan. If Borrower or any Guarantor has in effect, or hereafter institutes (with Lender's consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 Sxxx. 000, 00 X.X.X.X. xx. 1001 et seq. (1975), as amended from time to time ("ERISA"), then the following warranty and covenants shall be applicable during such period as any such plan (the "Plan") shall be in effect: (a) Borrower hereby warrants that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (b) Borrower hereby covenants that throughout the existence of the Plan, Borrower's contributions under the Plan will meet the minimum funding standards required by ERISA and Borrower will not institute a distress termination of the Plan, (c) Borrower hereby covenants that the Plan's annual financial and actuarial statements and the Plan's annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender within thirty (30) days of the preparation thereof, and (d) Borrower covenants that it will send to Lender a copy of any notice of a reportable event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or Guarantor. No new Plan shall be instituted by Borrower or any Guarantor unless Lender shall have given its written consent thereto.

ERISA Plan. If Borrower or any Guarantor has in effect, or hereafter institutes (with Lender's consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 SxxxStat. 000829, 00 X.X.X.X. xx29 U.S.C.A. ss. 1001 et seq1000 xx xxx. (19750000), as amended xx xxxnded from time to time ("ERISA"), then the following warranty and covenants shall be applicable during such period as any such plan (the "Plan") shall be in effect: (a) Borrower hereby warrants that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (b) Borrower hereby covenants that throughout the existence of the Plan, Borrower's contributions under the Plan will meet the minimum funding standards required by ERISA and Borrower will not institute a distress termination of the Plan, (c) Borrower hereby covenants that the Plan's annual financial and actuarial statements and the Plan's annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender within thirty (30) days of the preparation thereof, upon Lender's request and (d) Borrower covenants that it will send to Lender a copy of any notice of a reportable event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or Guarantor. No new Plan shall be instituted by Borrower or any Guarantor unless Lender shall have given its written consent thereto, which consent shall not be unreasonably withheld.

ERISA Plan. If Borrower or any Guarantor has in effect, or hereafter institutes (with Lender's consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 SxxxStat. 000829, 00 X.X.X.X. xx29 U.S.C.A. ss. 1001 et seq. (1975), as amended from time to time xxxx xx xxxx ("ERISAXXXXX"), then the following warranty and covenants shall be applicable during such period as any such plan (the "Plan") shall be in effect: (a) Borrower hereby warrants that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (b) Borrower hereby covenants that throughout the existence of the Plan, Borrower's contributions under the Plan will meet the minimum funding standards required by ERISA and Borrower will not institute a distress termination of the Plan, (c) Borrower hereby covenants that the Plan's annual financial and actuarial statements and the Plan's annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender within thirty (30) days of the preparation thereof, and (d) Borrower covenants that it will send to Lender a copy of any notice of a reportable event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 6.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or GuarantorBorrower. No new Plan shall be instituted by Borrower or any Guarantor unless Lender shall have given its written consent thereto.

ERISA Plan. If Borrower or any Guarantor has in effect, or hereafter institutes (with Lender's consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 Sxxx00 Xxxx. 000, 00 X.X.X.X. xx. § 1001 et seq. (1975), as amended from time to time ("ERISA"), then the following warranty and covenants shall be applicable during such period as any such plan (the a "Plan") shall be in effect: (ai) Borrower hereby warrants that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (bii) Borrower hereby covenants that throughout the existence of the Plan, Borrower's contributions under the Plan will meet the minimum funding standards required by ERISA and Borrower will not institute a distress termination of the Plan, (ciii) Borrower hereby covenants that the Plan's annual financial and actuarial statements and the Plan's annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender within thirty (30) days of the preparation thereof, and (div) Borrower covenants that it will send to Lender a copy of any notice of a reportable event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or Guarantor. No new Plan shall be instituted by Borrower or any Guarantor unless Lender shall have given its written consent thereto.

ERISA Plan. If Borrower or any Guarantor has in effect, or hereafter institutes (with Lender's consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 SxxxStat. 000829, 00 X.X.X.X. xx29 U.S.C.A. ss. 1001 et seq. (1975), as amended from time to time xxxx xx xxxx ("ERISAXXXXX"), then the following warranty and covenants shall be applicable during such period as any such plan (the "Plan") shall be in effect: (a) Borrower hereby warrants that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (b) Borrower hereby covenants that throughout the existence of the Plan, Borrower's contributions under the Plan will meet the minimum funding standards required by ERISA and Borrower will not institute a distress termination of the Plan, (c) Borrower hereby covenants that the Plan's annual financial and actuarial statements and the Plan's annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender within thirty (30) days of the preparation thereof, and (d) Borrower covenants that it will send to Lender a copy of any notice of a reportable event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or Guarantor. No new Plan shall be instituted by Borrower or any Guarantor unless Lender shall have given its written consent thereto.

ERISA Plan. If Borrower PhyCor or any Guarantor has in effect, or hereafter institutes (with LenderIssuer's consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 SxxxStat. 000829, 00 X.X.X.X. xx29 U.S.C.A. ss. 1001 et seq. (1975), as amended from time to time xxxx xx xxxx ("ERISAXXXXX"), then the following warranty and covenants shall be applicable during such period as any such plan (the "Plan") shall be in effect: (ai) Borrower PhyCor and Guarantors hereby warrants warrant that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (bii) Borrower PhyCor and Guarantors hereby covenants covenant that throughout the existence of the Plan, Borrower's their respective contributions under the Plan will meet the minimum funding standards required by ERISA and Borrower PhyCor and Guarantors will not institute a distress termination of the Plan, (ciii) Borrower PhyCor and Guarantors hereby covenants covenant that the Plan's annual financial and actuarial statements and the Plan's annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender Issuer within thirty (30) days of the preparation thereof, and (div) Borrower covenants PhyCor and PhyCor and Guarantors covenant that it or they will send to Lender Issuer a copy of any notice of a reportable event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or Guarantor. No new Plan shall be instituted by Borrower PhyCor or any Guarantor Guarantors unless Lender Issuer shall have given its written consent thereto.

ERISA Plan. If Borrower or any Guarantor has in effect, or hereafter institutes (with Lender's ’s consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 Sxxx00 Xxxx. 000, 00 X.X.X.X. xx. § 1001 et seq. (1975), as amended from time to time ("“ERISA"”), then the following warranty and covenants shall be applicable during such period as any such plan (the "a “Plan"”) shall be in effect: (ai) Borrower hereby warrants that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (bii) Borrower hereby covenants that throughout the existence of the Plan, Borrower's ’s contributions under the Plan will meet the minimum funding standards required by ERISA and Borrower will not institute a distress termination of the Plan, (ciii) Borrower hereby covenants that the Plan's ’s annual financial and actuarial statements and the Plan's ’s annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender within thirty (30) days of the preparation thereof, and (div) Borrower covenants that upon Lender’s request it will send to Lender a copy of any notice of a reportable event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or Guarantor. No new Plan shall be instituted by Borrower or any Guarantor unless Lender shall have given its written consent thereto.

ERISA Plan. If Borrower or any Guarantor Debtor has in effect, or hereafter institutes ---------- (with LenderSecured Party's consent, as hereinafter provided), a pension plan that is subject to the requirements of Title IV of the Employee Retirement Income Security Act of 1974, Pub. L. No. 93-406, September 2, 1974, 88 Sxxx00 Xxxx. 000, 00 X.X.X.X. xx. (S) 1001 et seq. (1975), as amended from time to time ("ERISA"), then the following warranty and covenants shall be applicable during such period as any such plan (the "Plan") shall be in effect: (ai) Borrower the Debtors hereby warrants warrant that no fact that might constitute grounds for the involuntary termination of the Plan, or for the appointment by the appropriate United States District Court of a trustee to administer the Plan, exists at the time of execution of this Agreement, (bii) Borrower the Debtors hereby covenants covenant that throughout the existence of the Plan, Borrower's the contributions of the Debtors under the Plan will meet the minimum funding standards required by ERISA and Borrower the Debtors will not institute a distress termination of the Plan, (ciii) Borrower the Debtors hereby covenants covenant that the Plan's annual financial and actuarial statements and the Plan's annual Form 5500 information return will be timely filed with the Internal Revenue Service and a copy delivered to Lender Secured Party within thirty (30) days of the preparation thereof, and (div) Borrower covenants the Debtors covenant that it they will send to Lender Secured Party a copy of any notice of a reportable event any Reportable Event (as defined in ERISA) required by ERISA to be filed with the Labor Department or the Pension Benefit Guaranty Corporation, at the time that such notice is so filed. Notwithstanding anything herein to the contrary, Borrower shall not be deemed to be in breach of this Agreement with regard to any breach of a warranty or covenant contained in this Section 8.12 which would not have a material adverse effect on the business operations or financial condition of such Borrower or Guarantor. No new Plan shall be instituted by Borrower or the any Guarantor Debtor unless Lender Secured Party shall have given its written consent thereto.