PBGC Intervention Sample Clauses

PBGC Intervention. Notwithstanding any provision of this Agreement to the contrary, in the event that at any time the Pension Benefit Guaranty Corporation (PBGC) or any other Governmental Authority asserts that the Offering may provide justification for the PBGC to seek termination of the Crown Pension Plan or Constar Pension Plan under ERISA or otherwise asserts that the Offering may increase unreasonably the long-run loss to the PBGC (within the meaning of ERISA section 4042(a)(4)) with respect to any Crown Pension Plan or Constar Pension Plan, Crown may, in its sole discretion: (i) Enter into negotiations with the PBGC to resolve these issues and, upon satisfactorily resolving such issues, Constar shall fully comply with the terms of any agreement entered into by Crown with the PBGC; or (ii) Transfer all assets and liabilities with respect to some or all of the Active Constar Employees and/or Former Constar Employees and their respective alternate payees arising prior to the Closing Date under the Crown Pension Plan to the Constar Pension Plan in a manner acceptable to the PBGC.
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PBGC Intervention. In the event that at any time the Pension Benefit ----------------- Guaranty Corporation ("PBGC") or any other Governmental Authority asserts that the Distribution may provide justification for the PBGC to seek termination of the Pension Plan pursuant to ERISA section 4042 or otherwise asserts that the transaction may increase unreasonably the long-run loss to the PBGC (within the meaning of ERISA section 4042(a)(4)) with respect to the Pension Plan, IREX shall negotiate in good faith with the PBGC to resolve these issues and shall hold SPI harmless from any Liabilities related to the resolution of such issues.
Sample 1
PBGC Intervention. Notwithstanding any provision of this Agreement to the contrary, in the event that at any time the Pension Benefit Guaranty Corporation (PBGC) or any other Governmental Authority asserts that the Distribution may provide justification for the PBGC to seek termination of any CSC Pension Plan or Vlasic Pension Plan pursuant to ERISA section 4042 or otherwise asserts that the Distribution may increase unreasonably the long-run loss to the PBGC (within the meaning of ERISA section 4042(a)(4)) with respect to any CSC Pension Plan or Vlasic Pension Plan, CSC may, in its sole discretion: (i) Retain all assets and Vlasic Liabilities with respect to Active Vlasic Employees and their respective alternate payees arising prior to the Distribution Date under the applicable CSC Pension Plan and require Vlasic to provide equivalent benefits under plans maintained by it with an offset for any benefits continued to be provided under the applicable CSC Pension Plan; (ii) Enter into negotiations with the PBGC to resolve these issues and, upon satisfactorily resolving such issues, Vlasic shall fully comply with the terms of this Section 3.2(e); or (iii) Reach such other agreement as may be satisfactory to CSC and Vlasic. In any case and notwithstanding any other provision of this Agreement, Vlasic shall be fully responsible and liable for any obligation to, agreement with, or undertaking (on behalf of or relating to any Vlasic Pension Plan) to the PBGC and shall hold CSC free from and fully indemnify it against any such obligation, agreement, or undertaking. If CSC retains any Vlasic Liabilities with respect to any Active Vlasic Employee and their respective alternate payees under any CSC Pension Plan, Vlasic shall fully reimburse CSC for the reasonable administrative expenses relating to any such liabilities.
Sample 1

Related to PBGC Intervention

  • Intervention If the Commission finds deficiencies in the School's performance or legal compliance, the Commission and the School shall follow the Intervention Protocol attached as Exhibit D. Intervention may be initiated when the Commission finds that the School has failed to: (a) Comply with applicable laws, rules, policies, or procedures; (b) Comply with the terms and conditions of this Contract; or (c) Meet performance expectations as set forth in the Performance Frameworks. Failure to invoke the Intervention Protocol shall not be (i) construed as a waiver or relinquishment of any requirement under applicable laws, rules, policies, procedures, contractual terms and conditions, or performance expectations; or (ii) deemed a necessary precedent to non-renewal or revocation.

  • Interventions 1. Door to balloon time 2. Door to needle time 3. No interventions b. Discharge status 1. Home

  • Regulatory Intervention In the event that there is any change to any applicable statutes, enactments, acts of legislatures or parliament, laws, ordinances, orders, rules, by-laws or regulations of any government or statutory authority in India including but not limited to the Ministry of Information and Broadcasting and The Telecom Regulatory Authority or any final un-appealable order of any competent court or tribunal, etc, which would have a material adverse effect on either of the Parties, then the affected Party may request that the Parties consult as soon as reasonably practicable with a view to negotiating in good faith an amendment to this Agreement including but not limited to the Subscription Fee payable hereunder. Such amendment shall take effect from the date of such change. In the event the Parties are unable to agree on an amendment within thirty (30) days of the date of the request by the affected Party, then either Party may approach TDSAT for appropriate resolution of the dispute.

  • Complaints Investigation The employee who complains of harassment under the provisions of the Human Rights Code must first comply with the Employer’s harassment policy procedures before filing a grievance or human rights complaint.

  • Site Investigation Developer has made a careful investigation of the Site and is familiar with the requirements of the Contract Documents and has accepted the readily observable, existing conditions of the Site.

  • COMPETENT SUPERVISORY AUTHORITY Identify the competent supervisory authority/ies in accordance with Clause 13

  • Assistance in Proceedings Seller will cooperate with Buyer and its counsel in the contest or defense of, and make available its personnel and provide any testimony and access to its books and Records in connection with, any Proceeding involving or relating to (a) any Contemplated Transaction or (b) any action, activity, circumstance, condition, conduct, event, fact, failure to act, incident, occurrence, plan, practice, situation, status or transaction on or before the Closing Date involving Seller or the Business.

  • Administrative Proceedings With a view to administering in a consistent, impartial, and reasonable manner all measures of general application affecting matters covered by this Agreement, each Party shall ensure, in its administrative proceedings applying measures to particular persons, goods, or services of the other Party in specific cases, that: (a) wherever possible, persons of the other Party that are directly affected by a proceeding are provided with reasonable notice, in accordance with the Party's procedures, when a proceeding is initiated, including a description of the nature of the proceeding, a statement of the legal authority under which the proceeding is initiated, and a general description of any issues in controversy; (b) such persons are afforded a reasonable opportunity to present facts and arguments in support of their positions prior to any final administrative action, when time, the nature of the proceeding, and the public interest permit; and (c) its procedures are in accordance with its law.

  • NEW YORK STATE VENDOR RESPONSIBILITY The Contractor shall at all times during the Contract term remain responsible. The Contractor agrees, if requested by the Commissioner of OGS or her designee, to present evidence of its continuing legal authority to do business in New York State, integrity, experience, ability, prior performance, and organizational and financial capacity. The Commissioner of OGS or his or her designee, in his or her sole discretion, reserves the right to suspend any or all activities under this Contract, at any time, when he or she discovers information that calls into question the responsibility of the Contractor. In the event of such suspension, the Contractor will be given written notice outlining the particulars of such suspension. Upon issuance of such notice, the Contractor must comply with the terms of the suspension order. Contract activity may resume at such time as the Commissioner of OGS or his or her designee issues a written notice authorizing a resumption of performance under the Contract. The Contractor agrees that if it is found by the State that the Contractor’s responses to the Questionnaire were intentionally false or intentionally incomplete, on such finding, the Commissioner may terminate the Contract. Upon written notice to the Contractor, and a reasonable opportunity to be heard with appropriate OGS officials or staff, the Contract may be terminated by the Commissioner of OGS or his or her designee at the Contractor’s expense where the Contractor is determined by the Commissioner of OGS or his or her designee to be non-responsible. In such event, the Commissioner of OGS or his or her designee may complete the contractual requirements in any manner he or she may deem advisable and pursue available legal or equitable remedies for breach. In no case shall such termination of the Contract by the State be deemed a breach thereof, nor shall the State be liable for any damages for lost profits or otherwise, which may be sustained by the Contractor as a result of such termination.

  • CENTRAL GRIEVANCE PROCESS The following process pertains exclusively to grievances on central matters that have been referred to the central process. In accordance with the School Boards Collective Bargaining Act central matters may also be grieved locally, in which case local grievance processes will apply.

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