Common use of Multiemployer Plan Withdrawal Liability Clause in Contracts

Multiemployer Plan Withdrawal Liability. The General Partner, the --------------------------------------- Borrower or any other member of the Controlled Group shall have been notified by the sponsor of a Multiemployer Plan that it has incurred withdrawal liability to such Multiemployer Plan in an amount which, when aggregated with all other amounts required to be paid to Multiemployer Plans by the General Partner, the Borrower or any other member of the Controlled Group as withdrawal liability (determined as of the date of such notification), exceeds $1,000,000 or requires payments exceeding $250,000 per annum.

Appears in 2 contracts

Samples: Revolving Credit Agreement (National Golf Properties Inc), Credit Agreement (National Golf Properties Inc)

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Multiemployer Plan Withdrawal Liability. The General Partner, the --------------------------------------- Borrower CWEI or any other member of the Controlled Group shall have been notified by the sponsor of a Multiemployer Plan that it has incurred withdrawal liability to such Multiemployer Plan in an amount which, when aggregated with all other amounts required to be paid to Multiemployer Plans by the General Partner, the Borrower any Credit Party or any other member of the Controlled Group as withdrawal liability (determined as of the date of such notification), exceeds $1,000,000 750,000 or requires payments exceeding $250,000 1,000,000 per annum.

Appears in 1 contract

Samples: Credit Agreement (Clayton Williams Energy Inc /De)

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Multiemployer Plan Withdrawal Liability. The General Partner, the --------------------------------------- Borrower or any other member of the Controlled Group shall have been notified by the sponsor of a Multiemployer Plan that it has incurred withdrawal liability to such Multiemployer Plan in an amount which, when aggregated with all other amounts required to be paid to Multiemployer Plans by the General Partner, the Borrower or any other member of the Controlled Group as withdrawal liability (determined as of the date of such notification), exceeds $1,000,000 750,000 or requires payments exceeding $250,000 1,500,000 per annum.

Appears in 1 contract

Samples: Senior Term Second Lien Secured Credit Agreement (Quest Resource Corp)

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