Pension Funding. The Borrower has not incurred any accumulated funding deficiency within the meaning of ERISA or incurred any liability to the PBGC in connection with any employee benefit plan established or maintained by the Borrower and no reportable event or prohibited transaction, as defined in ERISA, has occurred with respect to such plans.
Pension Funding. Comply with the following and cause each ERISA Affiliate of the Borrower, any Guarantor or any Subsidiary of the Borrower or a Guarantor to comply with the following:
(i) engage solely in transactions which would not subject any of such entities to either a civil penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by Section 4975 of the Internal Revenue Code of 1986, as amended, in either case in an amount in excess of $100,000.00;
(ii) make full payment when due of all amounts which, under the provisions of any Plan or ERISA, the Borrower, any Guarantor, any such Subsidiary or any ERISA Affiliate of any of same is required to pay as contributions thereto;
(iii) all applicable provisions of the Internal Revenue Code of 1986, as amended and the regulations promulgated thereunder, including but not limited to Section 412 thereof, and all applicable rules, regulations and interpretations of the Accounting Principles Board and the Financial Accounting Standards Board;
(iv) not fail to make any payments in an aggregate amount greater than $100,000.00 to any Multiemployer Plan that the Borrower, any Guarantor, any such Subsidiary or any ERISA Affiliate may be required to make under any agreement relating to such Multiemployer Plan, or any law pertaining thereto; or
(v) not take any action regarding any Plan which could result in the occurrence of a Prohibited Transaction.
Pension Funding. Comply with the following and cause each ERISA Affiliate of the Borrower or any Subsidiary of the Borrower to comply with the following:
(i) engage solely in transactions which would not subject any of such entities to either a civil penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by Section 4975 of the Internal Revenue Code in either case in an amount in excess of $25,000.00;
(ii) make full payment when due of all amounts which, under the provisions of any Plan or ERISA, the Borrower, any such Subsidiary or any ERISA Affiliate of any of same is required to pay as contributions thereto;
(iii) all applicable provisions of the Internal Revenue Code and the regulations promulgated thereunder, including but not limited to Section 412 thereof, and all applicable rules, regulations and interpretations of the Accounting Principles Board and the Financial Accounting Standards Board;
(iv) not fail to make any payments in an aggregate amount greater than $25,000.00 to any Multiemployer Plan that the Borrower, any such Subsidiary or any ERISA Affiliate may be required to make under any agreement relating to such Multiemployer Plan, or any law pertaining thereto; or
(v) not take any action regarding any Plan which could result in the occurrence of a Prohibited Transaction.
Pension Funding. Comply in all material respects, and cause each Subsidiary of the Borrower or any Guarantor to comply in all material respects, with the following and cause each ERISA Affiliate of the Borrower, any Guarantor or any such Subsidiary to comply with the following:
(i) engage solely in transactions which would not subject any of such entities to either a civil penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by Section 4975 of the Internal Revenue Code in either case in an amount in excess of $25,000.00;
(ii) make full payment when due of all amounts which, under the provisions of any Plan or ERISA, the Borrower, any Guarantor, any such Subsidiary or any ERISA Affiliate of any of same is required to pay as contributions thereto;
(iii) all applicable provisions of the Internal Revenue Code and the regulations promulgated thereunder, including but not limited to Section 412 thereof, and all applicable rules, regulations and interpretations of the Accounting Principles Board and the Financial Accounting Standards Board;
(iv) not fail to make any payments in an aggregate amount greater than $25,000.00 to any Multiemployer Plan that the Borrower, any Guarantor, any such Subsidiary or any ERISA Affiliate may be required to make under any agreement relating to such Multiemployer Plan, or any law pertaining thereto; or
(v) not take any action regarding any Plan which could result in the occurrence of a Prohibited Transaction.
Pension Funding. Comply with the following and cause each ERISA Affiliate of the Co-Borrowers or any Guarantor to comply with the following:
(i) engage solely in transactions which would not subject any of such entities to either a civil penalty assessed pursuant to Section 502 (i) of ERISA or a tax imposed by Section 4975 of the Internal Revenue Code in either case in an amount in excess of $25,000;
(ii) make full payment when due of all amounts which, under the provisions of any Plan or ERISA, such Co-Borrower, Guarantor or ERISA Affiliate of any of same is required to pay as contributions thereto;
(iii) all applicable provisions of the Internal Revenue Code and the regulations promulgated thereunder, including but not limited to Section 412 thereof, and all applicable rules, regulations and interpretations of the Accounting Principles Board and the Financial Accounting Standards Board;
(iv) not fail to make any payments in an aggregate amount greater than $25,000 to any Multiemployer Plan that such Co-Borrower, Guarantor or any ERISA Affiliate may be required to make under any agreement relating to such Multiemployer Plan, or any law pertaining thereto; or
(v) not take any action regarding any Plan which could result in the occurrence of a Prohibited Transaction.
Pension Funding. No Obligor has incurred any material accumulated funding deficiency within the meaning of ERISA and has not incurred any material liability to the PBGC in connection with any employee benefit plan established or maintained by the Borrower or any of the Subsidiaries and no reportable event or prohibited transaction, as defined in ERISA, has occurred with respect to such plans.
Pension Funding. Comply with the following and cause each ERISA Affiliate of the Borrower or a Guarantor to comply with the following:
(i) engage solely in transactions which would not subject any of such entities to either a civil penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by Section 4975 of the Internal Revenue Code in either case in an amount in excess of $25,000.00;
(ii) make full payment when due of all amounts which, under the provisions of any Plan or ERISA, the Borrower, a Guarantor or any ERISA Affiliate of any of same is required to pay as contributions thereto;
(iii) all applicable provisions of the Internal Revenue Code and the regulations promulgated thereunder, including but not limited to Section 412 thereof, and all applicable rules, regulations and interpretations of the Accounting Principles Board and the Financial Accounting Standards Board;
(iv) not fail to make any payments in an aggregate amount greater than $25,000.00 to any Multiemployer Plan that the Borrower, a Guarantor or any ERISA Affiliate of the Borrower or a Guarantor may be required to make under any agreement relating to such Multiemployer Plan, or any law pertaining thereto; or
(v) not take any action regarding any Plan which could result in the occurrence of a Prohibited Transaction.
Pension Funding. The Home Authorities shall procure that the Company will contribute to the LGPS in relation to the Acquired Staff as set out in the Admission Agreement including contributions in relation to any deficit which is attributable to the period prior to the Commencement Date (“Past Service Deficit”). The Home Authorities shall remain responsible for any Past Service Deficit that forms part of any payments required to be made on termination of this Agreement or in relation to any other liability of the Company to make payments under the Admission Agreement. Any such payments will be made to the Administering Authority in proportion to the Home Authorities’ original budget/funding contributions to the Company as set out in Clause 8 and Schedule 2 (Funding) of the Agreement and as provided for in the Admission Agreement The Home Authorities will indemnify the Administering Authority for the failure of the Company to make any payments due under the Admission Agreement as provided for in the Admission Agreement. The indemnity will be satisfied by payment in proportion to the Home Authorities’ original budget/funding contributions to the Company as set out in Clause 8 and Schedule 2 (Funding) of the Agreement and as provided for in the Admission Agreement. Subject to Clauses 22.2 and 22.3, the Company shall be responsible for any liabilities arising in the LGPS as a result of its acts or omissions on or after the Commencement Date and before the termination of this Agreement.
Pension Funding. As soon as practicable following the Effective Date, Delphi shall fund an amount that satisfies the minimum funding standard for the Delphi HRP under Code Section 412 but in no event before the transfer of Delphi HRP liabilities under Code Section 414(l) discussed in Section 2.03 above.
Pension Funding. Neither Borrower, General Partner nor Guarantor has incurred any accumulated funding deficiency within the meaning of ERISA or incurred any liability to the PBGC in connection with any employee benefit plan established or maintained by Borrower, General Partner or Guarantor and no reportable event or prohibited transaction, as defined in ERISA, has occurred with respect to such plans.
