Common use of Events Relating to Plans and Benefit Arrangements Clause in Contracts

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Change: (i) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; (iii) a trustee shall be appointed to administer or liquidate any Plan; (iv) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan;

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Changeoccurs: (i) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; (iii) a trustee shall be appointed to administer or liquidate any Plan; (iv) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; and, in the case of the occurrence of(i), (ii), (iii) or (iv) above, the Agent determines in good faith that the amount of the Borrower's liability is likely to exceed 10% of its Consolidated Tangible Net Worth; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan; and, with respect to any of the events specified in (v), (vi), (vii) or (viii), the Agent determines in good faith that any such occurrence would be reasonably likely to materially and adversely affect the total enterprise represented by the Borrower and the other members of the ERISA Group;

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Change: (i) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; (iii) a trustee shall be appointed to administer or liquidate any Plan; (iv) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan;

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in events occur, involving the aggregate Borrower or any member of the ERISA Group, which event, alone or together with the occurrence of any other event under this Section 8.1.11 such event(s), would, or would reasonably be expected to, result in a substantial obligation to the Borrower or any of its Subsidiaries or otherwise result in a Material Adverse Change: (i) any Reportable Event, which Plan shall fail to satisfy the Administrative Agent determines in good faith constitutes grounds minimum funding standards of ERISA or the Internal Revenue Code for the termination any plan year or part thereof or a waiver of such standards or extension of any Plan by amortization period is sought to be granted under Section 430 of the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuingInternal Revenue Code; (ii) proceedings the Plans, considered in the aggregate, shall cease to be Adequately Funded; (iii) failure to make any contribution when due to a Multiemployer Plan; (iv) a notice of intent to terminate shall have been instituted or other action taken is reasonably expected to terminate any Plan, or a termination notice shall have been be filed with the PBGC with respect to any Plan; (iiiv) a trustee shall be appointed to administer or liquidate any Plan; (iv) Reportable Event on the basis of which the PBGC shall give notice of its intent to institute proceedings is reasonably expected to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower PBGC shall have instituted proceedings under ERISA Section 4042 to terminate or appoint a trustee to administer any other member Plan or the PBGC shall have given notice that a Plan may become the subject of the ERISA Group shall make any such proceedings; (vii) adoption of an amendment to a Plan with respect to which security is required under ERISA Section 307 of ERISA307; (viiviii) the Borrower partial or any other member complete withdrawal under ERISA Section 4062(e), 113 Table of the ERISA Group shall withdraw completely Contents from a Multiple Employer Plan or partially (ix) partial or complete withdrawal from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan;.

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Changeoccurs: (i) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; (iii) a trustee shall be appointed to administer or liquidate any Plan; (iv) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; and, in the case of the occurrence of (i), (ii), (iii) or (iv) above, the Administrative Agent determines in good faith that the amount of the Borrower's liability is likely to exceed 10% of its Consolidated Net Worth; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan; or (ix) any applicable Law is adopted, changed or interpreted by any Official Body with respect to or otherwise affecting one or more Plans, Multiemployer Plans or Benefit Arrangements and, with respect to any of the events specified in (v), (vi), (vii), (viii) or (ix), the Administrative Agent determines in good faith that any such occurrence would be reasonably likely to materially and adversely affect the total enterprise represented by the Borrower and the other members of the ERISA Group;

Events Relating to Plans and Benefit Arrangements. Any of the following (i) (i) An ERISA Event occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 respect to a Plan which has resulted or could reasonably be expected to result in liability of the Borrower under Title IV of ERISA to the Plan or the PBGC in an aggregate amount in excess of $5,000,000, (ii) Borrower or any other member of the ERISA Group fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Material Adverse Change: Multiemployer Plan in excess of $5,000,000, (iiii) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; , (iiiv) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; , (iiiv) a trustee shall be appointed to administer or liquidate any Plan; , (ivvi) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; and, in the case of the occurrence of (iii), (iv), (v) or (vi) above, the Administrative Agent determines in good faith that the amount of the Borrower’s liability is likely to exceed $5,000,000, (vii) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower or , including, but not limited to, any other member of the ERISA Group shall make any amendment to a Plan installment payments with respect to which security is required withdrawal liability under Section 307 4201 of ERISA; ERISA under a Multiemployer Plan in an aggregate amount which could reasonably be expected to result in a Material Adverse Change, (viiviii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or , (viiiix) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan, (x) the responsible actuary for any Plan or Multiemployer Plan certifies that the Plan or Multiemployer Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Section 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA, or (xi) any applicable Law is adopted, changed or interpreted by any Official Body with respect to or otherwise affecting one or more Plans, Multiemployer Plans or Benefit Arrangements and, with respect to any of the events specified in (vii), (viii), (ix), or (x) or (xi), the Administrative Agent determines in good faith that any such occurrence would be reasonably likely to materially and adversely affect the total enterprise represented by the Borrower and the other members of the ERISA Group;

Events Relating to Plans and Benefit Arrangements. Any of the following (i) An ERISA Event occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 respect to a Plan which has resulted or could reasonably be expected to result in liability of the Borrower under Title IV of ERISA to the Plan or the PBGC in an aggregate amount in excess of $5,000,000, (ii) Borrower or any other member of the ERISA Group fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Material Adverse Change: Multiemployer Plan in excess of $5,000,000, (iiii) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; , (iiiv) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; , (iiiv) a trustee shall be appointed to administer or liquidate any Plan; , (ivvi) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; and, in the case of the occurrence of (iii), (iv), (v) or (vi) above, the Administrative Agent determines in good faith that the amount of the Borrower’s liability is likely to exceed $5,000,000, (vii) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower or , including, but not limited to, any other member of the ERISA Group shall make any amendment to a Plan installment payments with respect to which security is required withdrawal liability under Section 307 4201 of ERISA; ERISA under a Multiemployer Plan in an aggregate amount which could reasonably be expected to result in a Material Adverse Change, (viiviii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or , (viiiix) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan, (x) the responsible actuary for any Plan or Multiemployer Plan certifies that the Plan or Multiemployer Plan is considered an at-risk plan or a plan in endangered or critical status within the meaning of Section 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA, or (xi) any applicable Law is adopted, changed or interpreted by any Official Body with respect to or otherwise affecting one or more Plans, Multiemployer Plans or Benefit Arrangements and, with respect to any of the events specified in (vii), (viii), (ix), or (x) or (xi), the Administrative Agent determines in good faith that any such occurrence would be reasonably likely to materially and adversely affect the total enterprise represented by the Borrower and the other members of the ERISA Group;

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Changeoccurs: (i) any i)any Reportable EventEvent with respect to a Plan, which the Administrative Agent reasonably determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings ii)proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; (iii) a iii)a trustee shall be appointed to administer or liquidate any Plan; (iv) the iv)the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; and, in the case of the occurrence of (i), (ii), (iii) or (iv) above, the Agent reasonably determines in good faith that the amount of any Loan Party's liability is likely to exceed 10% of its Consolidated Tangible Net Worth; (vv)any "accumulated funding deficiency" (as defined in Section 302 of ERISA) shall exist with respect to any Plan, or any Lien in favor of the PBGC or a Plan shall arise on the assets of the Borrower or any other member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; Group, (vi) the Borrower vi)any Loan Party or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) vii)any Loan Party or any other member of the Borrower ERISA Group shall incur any liability in connection with a withdrawal from a Multiemployer Plan; (viii)any Loan Party or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower or any other member under Section 4063 of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan; or (ix)any applicable Law is adopted, changed or interpreted by any Official Body with respect to or otherwise affecting one or more Plans, Multiemployer Plans or Benefit Arrangements and, with respect to any of the events specified in (v), (vi), (vii), (viii) or (ix), the Agent reasonably determines in good faith that any such occurrence, together with all other such events, would be reasonably likely to result in a Material Adverse Change;

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Changeoccurs: (i) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; (iii) a trustee shall be appointed to administer or liquidate any Plan; (iv) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan; or (ix) any applicable Law is adopted, changed or interpreted by any Official Body with respect to or otherwise affecting one or more Plans, Multiemployer Plans or Benefit Arrangements and, with respect to any of the events specified in (i), (ii), (iii). (iv), (v), (vi), (vii), (viii) or (ix), the Agent determines in good faith that any such occurrence would be reasonably likely to result in a Material Adverse Change;

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Changeoccurs: (i) any Reportable Event, which the Administrative Agent determines in good good-faith constitutes grounds for the termination of any Plan by the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any Plan; (iii) a trustee shall be appointed to administer or liquidate any Plan; (iv) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; and, in the case of the occurrence of (i), (ii), (iii) or (iv) above, the Agent determines in good-faith that the amount of the Borrowers' liability is likely to exceed 10% of PhyMatrix' Consolidated Net Worth; (v) the Borrower PhyMatrix, its Subsidiaries or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower PhyMatrix, its Subsidiaries or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) the Borrower PhyMatrix, its Subsidiaries or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower PhyMatrix, its Subsidiaries or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan; or (ix) any applicable Law is adopted, changed or interpreted by any Official Body with respect to or otherwise affecting one or more Plans, Multiemployer Plans or Benefit Arrangements and, with respect to any of the events specified in (v), (vi), (vii), (viii) or (ix), the Agent determines in good-faith that any such occurrence would be reasonably likely to materially and adversely affect the total enterprise represented by the Borrowers and the other members of the ERISA Group;

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in events occur, involving the aggregate Borrower or any member of the ERISA Group, which event, alone or together with the occurrence of any other event under this Section 8.1.11 such event(s), would, or would reasonably be expected to, result in a substantial obligation to the Borrower or any of its Subsidiaries or otherwise result in a Material Adverse Change: (i) any Reportable Event, which Plan shall fail to satisfy the Administrative Agent determines in good faith constitutes grounds minimum funding standards of ERISA or the Internal Revenue Code for the termination any plan year or part thereof or a waiver of such standards or extension of any Plan by amortization period is sought to be granted under section 430 of the PBGC or the appointment of a trustee to administer or liquidate any Plan, shall have occurred and be continuingInternal Revenue Code; (ii) proceedings the Plans, considered in the aggregate, shall cease to be Adequately Funded; (iii) failure to make any contribution when due to a Multiemployer Plan; (iv) a notice of intent to terminate shall have been instituted or other action taken is reasonably expected to terminate any Plan, or a termination notice shall have been be filed with the PBGC with respect to any Plan; (iiiv) a trustee shall be appointed to administer or liquidate any Plan; (iv) Reportable Event on the basis of which the PBGC shall give notice of its intent to institute proceedings is reasonably expected to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions when due to a Plan or a Multiemployer Plan; (vi) the Borrower PBGC shall have instituted proceedings under ERISA section 4042 to terminate or appoint a trustee to administer any other member Plan or the PBGC shall have given notice that a Plan may become the subject of the ERISA Group shall make any such proceedings; (vii) adoption of an amendment to a Plan with respect to which security is required under Section 307 of ERISAERISA section 307; (viiviii) the Borrower partial or any other member of the complete withdrawal under ERISA Group shall withdraw completely section 4062(e), from a Multiple Employer Plan or partially (ix) partial or complete withdrawal from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan;.

Events Relating to Plans and Benefit Arrangements. Any of the following occurs and would in the aggregate with the occurrence of any other event under this Section 8.1.11 reasonably be expected to result in a Material Adverse Changeoccurs: (i) any Reportable Event, which the Administrative Agent determines in good faith constitutes grounds for the termination of any Plan by the PBGC PBGC, or for the appointment of a trustee by the PBGC to administer or liquidate any Plan, shall have occurred and be continuing; (ii) proceedings shall have been instituted or other action taken to terminate any Plan, or a termination notice shall have been filed with respect to any PlanPlan under Section 4041 of ERISA; (iii) a trustee shall be appointed by the PBGC to administer or liquidate any Plan; (iv) the PBGC shall give notice of its intent to institute proceedings to terminate any Plan or Plans or to appoint a trustee to administer or liquidate any Plan;; and, in the case of the occurrence of (i), (ii), (iii) or (iv) above, the Administrative Agent determines in good faith that the amount of the Borrower’s or any ERISA Group member’s liability, whether alone or in conjunction with others, is likely to exceed $15,000,000; (v) the Borrower or any member of the ERISA Group shall fail to make any contributions or other payments when due to a Plan or a Multiemployer Plan; (vi) the Borrower or any other member of the ERISA Group shall make any amendment to a Plan with respect to which security is required under Section 307 of ERISA; (vii) the Borrower or any other member of the ERISA Group shall withdraw completely or partially from a Multiemployer Plan; or (viii) the Borrower or any other member of the ERISA Group shall withdraw (or shall be deemed under Section 4062(e) of ERISA to withdraw) from a Multiple Employer Plan; or (ix) any applicable Law is adopted, changed or interpreted by any Official Body with respect to or otherwise affecting one or more Plans, Multiemployer Plans or Benefit Arrangements and, with respect to any of the events specified in (v), (vi), (vii), (viii) or (ix), the Administrative Agent determines in good faith that any such occurrence would be reasonably likely to result in a Material Adverse Change;