Common use of Occurrence of Certain Reportable Events Clause in Contracts

Occurrence of Certain Reportable Events. If there shall occur, with respect to any pension plan maintained by the Borrower, any reportable event (within the meaning of section 4043(b) of ERISA) which the Lender shall determine in good faith constitutes a ground for the termination by the PBGC of any such plan, and if such event continues for 60 days after the Lender gives written notice to the Borrower, provided that termination of such plan or appointment of such trustee would, in the opinion of the Lender, have a materially adverse effect upon the operations, business, property, assets, financial condition or credit of the Borrower.

Appears in 4 contracts

Samples: Revolving Credit and Term Loan Agreement (Zimmerman Sign Co), Revolving Credit Loan Agreement (Thomas Group Inc), Revolving Credit Loan Agreement (Thomas Group Inc)

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Occurrence of Certain Reportable Events. If there shall occur, with respect to any pension plan maintained by the Borrowerany Obligor, any reportable event (within the meaning of section 4043(b) of ERISA) which the Lender Bank shall determine in good faith constitutes a ground for the termination by the PBGC of any such plan, and if such event continues for 60 30 days after the Lender Bank gives written notice to the BorrowerObligors, provided that termination of such plan or appointment of such trustee would, in the opinion of the LenderBank, have a materially adverse effect upon the operations, business, property, assets, financial condition or credit of the Borrowerany Obligor.

Appears in 2 contracts

Samples: Loan Agreement (Henley Healthcare Inc), Loan Agreement (Henley Healthcare Inc)

Occurrence of Certain Reportable Events. If there shall occur, with respect to any pension plan maintained by the any Borrower, any reportable event (within the meaning of section 4043(b) of ERISA) which the Lender shall determine in good faith constitutes a ground for the termination by the PBGC of any such planplans, and if such event continues for 60 days after the Lender gives written notice to the any Borrower, provided that termination of such plan or appointment of such trustee would, in the opinion of the Lender, have a materially adverse effect upon the operations, business, property, assets, financial condition or credit of the any Borrower.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Ergobilt Inc)

Occurrence of Certain Reportable Events. If there shall occur, with respect to any pension plan maintained by the BorrowerBorrower or the Guarantors, any reportable event (within the meaning of section 4043(b) of ERISA) which the Lender shall determine in good faith constitutes a ground for the termination by the PBGC of any such plan, and if such event continues for 60 days after the Lender gives written notice to the BorrowerBorrower or the Guarantors, provided that termination of such plan or appointment of such trustee would, in the opinion of the Lender, have a materially adverse effect upon the operations, business, property, assets, financial condition or credit of the BorrowerBorrower or the Guarantors.

Appears in 1 contract

Samples: Loan Agreement (Sun Coast Industries Inc /De/)

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Occurrence of Certain Reportable Events. If there shall occur, with respect to any pension plan maintained by the Borrower, any reportable event (within the meaning of section Section 4043(b) of ERISA) which the Lender shall determine in good faith constitutes a ground for the termination by the PBGC of any such plan, and if such event continues for 60 days after the Lender gives written notice to the Borrower, provided that termination of such plan or appointment of such trustee would, in the opinion of the Lender, have a materially adverse effect upon the operations, business, property, assets, financial condition or credit of the Borrower.

Appears in 1 contract

Samples: Revolving Credit Loan Agreement (Thomas Group Inc)

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