Common use of Pension Matters Clause in Contracts

Pension Matters. To the extent that any of the following events could, either individually or in the aggregate, reasonably be expected to result in liabilities in excess of $15,000,000, as soon as possible and, in any event, within ten Business Days after the US Borrower or any Subsidiary of the US Borrower or any ERISA Affiliate knows or has reason to know of the occurrence of any of the following, the US Borrower will deliver to each of the Lenders a certificate of the chief financial officer or other Authorized Officer of the US Borrower setting forth the full details as to such occurrence and the action, if any, that the US Borrower, such Subsidiary or such ERISA Affiliate is required or proposes to take with respect thereto: that a Reportable Event has occurred; that a Plan has failed to satisfy the minimum funding standard, within the meaning of Section 412 of the Code or Section 302 of ERISA, applicable to such Plan, or an application has been made or is reasonably expected to be made for a waiver or modification of the minimum funding standard or an extension of any amortization period under Section 412 of the Code or Section 303 or 304 of ERISA with respect to a Plan; that any contribution required to be made by the US Borrower, any Subsidiary or any ERISA Affiliate with respect to a Plan, a Multiemployer Plan or a Foreign Pension Plan has not been timely made; that a Plan or a Multiemployer Plan has been or is reasonably expected to be terminated, reorganized, partitioned or declared insolvent under Title IV of ERISA; that a Plan has an Unfunded Current Liability; that the US Borrower, any Subsidiary of the US Borrower or any ERISA Affiliate will or is reasonably expected to incur any liability to or on account of the termination of or withdrawal from a Plan or a Multiemployer Plan; that the US Borrower or any Subsidiary of the US Borrower will or is reasonably expected to incur any material liability pursuant to any employee welfare benefit plan (as defined in Section 3(1) of ERISA) that provides benefits to retired employees or other former employees (other than as required by Section 601 of ERISA) or any Plan or Foreign Pension Plan; that there has been a determination that any Multiemployer Plan is, or is expected to be, in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA); that there has been a determination that any Plan is in “at-risk” status (as defined in Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA). The US Borrower will deliver to each of the Lenders (i) at the request of any Lender on ten Business Days’ notice a complete copy of the annual report (on the Internal Revenue Service Form 5500 series) of each Plan (including, to the extent required, the related financial and actuarial statements and opinions and other supporting statements, certifications, schedules and information) required to be filed with the Internal Revenue Service and (ii) copies of any records, documents or other information that must be furnished to the PBGC with respect to any Plan pursuant to Section 4010 of ERISA.

Pension Matters. To the extent that any of the following events could, either individually or in the aggregate, reasonably be expected to result in 108 liabilities in excess of $15,000,0002,500,000, as soon as possible and, in any event, within ten Business Days after the US Borrower Holdings or any Subsidiary of the US Borrower Holdings or any ERISA Affiliate knows or has reason to know of the occurrence of any of the following, the US Borrower Holdings will deliver to each of the Lenders a certificate of the chief financial officer or other Authorized Officer of the US Borrower Holdings setting forth the full details as to such occurrence and the action, if any, that the US BorrowerHoldings, such Subsidiary or such ERISA Affiliate is required or proposes to take with respect thereto: that a Reportable Event has occurred; that a Plan has failed to satisfy the minimum an accumulated funding standarddeficiency, within the meaning of Section 412 of the Code or Section 302 of ERISA, applicable to such Plan, has been incurred or an application has been made or is reasonably expected to be made for a waiver or modification of the minimum funding standard or an extension of any amortization period under Section 412 of the Code or Section 303 or 304 of ERISA with respect to a Plan; that any contribution required to be made by the US BorrowerHoldings, any Subsidiary or any ERISA Affiliate with respect to a Plan, a Multiemployer Plan or a Foreign Pension Plan has not been timely made; that a Plan or a Multiemployer Plan has been or is reasonably expected to be terminated, reorganized, partitioned or declared insolvent under Title IV of ERISA; that a Plan has an Unfunded Current Liability; that the US BorrowerHoldings, any Subsidiary of the US Borrower Holdings or any ERISA Affiliate will or is reasonably expected to incur any liability to or on account of the termination of or withdrawal from a Plan or a Multiemployer Plan; or that the US Borrower Holdings or any Subsidiary of the US Borrower Holdings will or is reasonably expected to incur any material liability pursuant to any employee welfare benefit plan (as defined in Section 3(1) of ERISA) that provides benefits to retired employees or other former employees (other than as required by Section 601 of ERISA) or any Plan or Foreign Pension Plan; that there has been a determination that any Multiemployer Plan is, or is expected to be, in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA); that there has been a determination that any Plan is in “at-risk” status (as defined in Section 430(i)(4) of the Code or Section 303(i)(4) of ERISA). The US Borrower Holdings will deliver to each of the Lenders (i) at the request of any Lender on ten Business Days’ notice a complete copy of the annual report (on the Internal Revenue Service Form 5500 series) of each Plan (including, to the extent required, the related financial and actuarial statements and opinions and other supporting statements, certifications, schedules and information) required to be filed with the Internal Revenue Service and (ii) copies of any records, documents or other information that must be furnished to the PBGC with respect to any Plan pursuant to Section 4010 of ERISA.