Events Relating to Plans Clause Samples
The "Events Relating to Plans" clause defines how certain occurrences or changes affecting benefit or retirement plans are handled under the agreement. It typically outlines the parties' obligations if there are amendments, terminations, or other significant events involving employee benefit plans, such as mergers, plan discontinuations, or regulatory changes. This clause ensures that both parties are aware of their responsibilities and the procedures to follow in the event of such changes, thereby minimizing confusion and allocating risk related to plan administration or compliance.
Events Relating to Plans. An event or condition specified in Section 8.3.4.5 shall occur with respect to any Plan and, as a result of such event or condition, together with all other such events or conditions, Borrower or any ERISA Affiliate shall incur a liability to a Plan or the PBGC (or both) which would result in a Material Adverse Change;
Events Relating to Plans. An ERISA Event shall occur with respect to any Plan and, as a result of such ERISA Event, together with all other ERISA Events, any member of the ERISA Group shall incur a liability to a Plan or the PBGC (or both) which would result in a Material Adverse Change;