Common use of MULTIEMPLOYER PLAN LIABILITY AND TERMINATION OF PENSION PLANS Clause in Contracts

MULTIEMPLOYER PLAN LIABILITY AND TERMINATION OF PENSION PLANS. The Constituent Companies will not and will not permit any ERISA Affiliate to withdraw from any Multiemployer Plan if such withdrawal could result in withdrawal liability (as described in Part 1 of Subtitle E of Title IV of ERISA) which would be reasonably likely to materially and adversely affect the properties, business, prospects or financial condition of the Parent and its Subsidiaries taken as a whole. Each Constituent Company and any ERISA Affiliate will not permit any employee benefit plan maintained by it to be terminated if such termination would result in the imposition of a Lien on any property of the Constituent Company or any ERISA Affiliate pursuant to Section 4068 of ERISA.

Appears in 2 contracts

Samples: Note Agreement (Unitog Co), Note Agreement (Unitog Co)

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MULTIEMPLOYER PLAN LIABILITY AND TERMINATION OF PENSION PLANS. The Constituent Companies Lessee will not and will not permit any ERISA Affiliate to withdraw from any Multiemployer Plan if such withdrawal could would result in withdrawal liability (as described in Part 1 of Subtitle E of Title IV of ERISA) which would that could reasonably be reasonably likely expected to materially and adversely affect have a material adverse effect on the properties, business, prospects profits or financial condition of the Parent Lessee and its Subsidiaries Restricted Subsidiaries, taken as a whole. Each Constituent Company The Lessee will not and will not permit any ERISA Affiliate will not to permit any employee benefit plan maintained by it to be terminated if such termination would in a manner which could result in the imposition of a Lien on any property Property of the Constituent Company Lessee or any ERISA Affiliate Subsidiary pursuant to Section 4068 of ERISA.

Appears in 2 contracts

Samples: Facility Lease (Crown Pacific Partners L P), Facility Lease (Crown Pacific Partners L P)

MULTIEMPLOYER PLAN LIABILITY AND TERMINATION OF PENSION PLANS. The Constituent Companies Company will not and will not permit any ERISA Affiliate to withdraw from any Multiemployer Plan if such withdrawal could would result in withdrawal liability (as described in Part 1 of Subtitle E of Title IV of ERISA) which would that could reasonably be reasonably likely expected to materially and adversely affect have a material adverse effect on the properties, business, prospects profits or financial condition of the Parent Company and its Subsidiaries Restricted Subsidiaries, taken as a whole. Each Constituent The Company will not and will not permit any ERISA Affiliate will not to permit any employee benefit plan maintained by it to be terminated if such termination would in a manner which could result in the imposition of a Lien on any property Property of the Constituent Company or any ERISA Affiliate Subsidiary pursuant to Section 4068 of ERISA.

Appears in 2 contracts

Samples: Note Purchase Agreement (Crown Pacific Partners L P), Note Purchase Agreement (Crown Pacific Partners L P)

MULTIEMPLOYER PLAN LIABILITY AND TERMINATION OF PENSION PLANS. The Constituent Companies Company will not and will not permit any ERISA Affiliate to withdraw from any Multiemployer Plan if such withdrawal could result in withdrawal liability (as described in Part 1 l of Subtitle E of Title IV W of ERISA) which would be reasonably likely to could materially and adversely affect the properties, business, prospects prospects, profits or condition (financial condition or otherwise) of the Parent and its Subsidiaries taken as a wholeCompany. Each Constituent The Company and any ERISA Affiliate will not permit any employee benefit plan maintained by it to be terminated if such termination would could result in the imposition of a Lien on any property of the Constituent Company or any ERISA Affiliate pursuant to Section 4068 of ERISA.

Appears in 1 contract

Samples: Note Agreement (Russell Corp)

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MULTIEMPLOYER PLAN LIABILITY AND TERMINATION OF PENSION PLANS. The Constituent Companies Company will not and will not permit any ERISA Affiliate Subsidiary to withdraw from any Multiemployer Plan if such withdrawal could result in withdrawal liability (as described in Part 1 of Subtitle E of Title IV of ERISA) which would be reasonably likely to could materially and adversely affect the properties, business, prospects prospects, profits or condition (financial condition or otherwise) of the Parent Company and its Subsidiaries taken as a whole. Each Constituent The Company and any ERISA Affiliate Subsidiary will not permit any employee benefit plan maintained by it to be terminated if such termination would could result in the imposition of a Lien on any property of the Constituent Company or any ERISA Affiliate Subsidiary pursuant to Section 4068 of ERISA.

Appears in 1 contract

Samples: Restatement and Exchange Agreement (Penford Corp)

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