No Penalties. No provision of this Agreement is to be interpreted as a penalty upon any party to this Agreement.
No Penalties. No provision of this Escrow Agreement is to be interpreted as a penalty upon any party to this Escrow Agreement.
No Penalties. No provision of this Agreement is to be interpreted as a penalty upon any party to this Agreement. The parties hereby agree that the rights of City in the event Contractor takes or fails to take certain actions pursuant to this Agreement, are reasonable, and that the parties desire such certainty with regard to such matters.
No Penalties. No provision of this Agreement is to be interpreted as a penalty upon either party to this Agreement. The parties hereby agree that the rights of City in the event Purchaser takes or fails to take certain actions pursuant to this Agreement, are reasonable.
No Penalties. No Acquired Company Employee Benefit Plans or any trusts relating thereto have engaged in any transaction in connection with which any Acquired Company or any fiduciaries of such Employee Benefit Plans or related trusts is or could be subject either to a civil penalty or other liability under Sections 502(i), 406 or 409 of ERISA or a tax imposed by Section 4975 of the Code, and no event has occurred and no condition exists with respect to Acquired Company Employee Benefit Plans that could subject any Acquired Company to any other tax or penalty under the Code or civil penalty or other liability under ERISA or other Laws.
No Penalties. Neither IRG, CNR, the Plans, nor any trustee or administrator of any of the Plans has engaged in a transaction in connection with which IRG could be subject to either a civil penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by Section 4975 of the Code. No "reportable event," as that term is defined in ERISA, will occur with respect to any of the Plans as a result of the transactions contemplated herein.
No Penalties. No event has occurred and no condition exists that would subject the Company by reason of their affiliation with any ERISA Affiliate to any (i) Tax, penalty, fine, (ii) Lien, or (iii) other liability imposed by ERISA, the Code or other applicable Laws, in each case, in respect of any employee benefit plan maintained, sponsored, contributed to, or required to be contributed to by any ERISA Affiliate (other than the Company).
No Penalties. As of the Effective Date, and provided that the Company makes each of the Required Payments in the amount and on the date set forth on Schedule A, Pxxxx agrees that, in exchange for the foregoing, no interest, late fees or penalties of any kind shall accrue on the Unpaid Fee Amount through the date on which the Unpaid Fee Amount is fully satisfied in accordance with the terms hereof. If any Required Payment or part thereof is not made when due pursuant to Schedule A (in each case, a “Shortfall”), interest shall accrue on such Shortfall at a rate of 12% per annum, compounded daily, until such payment is made. For the avoidance of doubt, such interest shall be payable in addition to the Aggregate Required Payment and payments of Shortfall amounts shall not result in any Reduction. In the case of any outstanding Shortfall, future payments shall first be applied to satisfy any Shortfall prior to being applied to the Unpaid Fee Amount.
No Penalties. No penalties shall accrue nor any deduction be made when such leave is approved by the Board or Superintendent.
No Penalties. Neither any Seller Employee Benefit Plan nor any fiduciary of any trust related to such plans has engaged in any transaction in connection with which Seller or any such fiduciary is or could be subject either to a civil penalty or other liability under ERISA or an excise tax imposed by the Code, and no event has occurred and no condition exists with respect to any Seller Employee Benefit Plan that could subject Seller to any other Tax or penalty under the Code or civil penalty or other liability under ERISA or other Laws.
