Common use of PBGC Intervention Clause in Contracts

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.

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 any 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 applicable Crown Pension Plan to the corresponding Constar Pension Plan in a manner acceptable to the PBGC.

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 any 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 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 applicable Crown Pension Plan to the corresponding Constar Pension Plan in a manner acceptable to the PBGC.

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 any 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 applicable Crown Pension Plan to the corresponding Constar Pension Plan in a manner acceptable to the PBGC.