Common use of Pension Matters Clause in Contracts

Pension Matters. 10.11.1 No steps have been taken to terminate any Pension Plan (wholly or in part), which would result in an Obligor being required to make an additional contribution to the Pension Plan; no contribution failure has occurred with respect to any Pension Plan sufficient to give rise to a Lien or charge under any Applicable Laws of any jurisdiction governing pension benefits; no condition exists and no event or transaction has occurred with respect to any Pension Plan which might result in the incurrence by any Obligor of any liability, fine or penalty; and no Obligor has any contingent liability with respect to any post-retirement non-pension benefit; in each case, that would reasonably be expected to have a Material Adverse Effect. 10.11.2 Each Pension Plan is in compliance in all material respects with all Applicable Laws governing pension benefits and Taxes, (i) all contributions (including employee contributions made by authorized payroll deductions or other withholdings) required to be made to the appropriate funding agency in accordance with all Applicable Laws and the terms of each Pension Plan have been made in accordance with all Applicable Laws and the terms of each Pension Plan, (ii) all liabilities under each Pension Plan are fully funded, on a going concern and solvency basis, in accordance with the terms of the respective Pension Plans, the requirements of Applicable Laws governing pension benefits and the most recent actuarial report filed with Governmental Authorities with respect to the Pension Plan, and (iii) no event has occurred and no conditions exist with respect to any Pension Plan that has resulted or would reasonably be expected to result in any Pension Plan having its registration revoked or refused for the purposes of any Applicable Laws governing pension benefits or Taxes or being placed under the administration of any relevant pension benefits Governmental Authority or being required to pay any Taxes or penalties under any Applicable Laws governing pension benefits or Taxes, except for any exceptions to clauses (i) through (iii) above that would not reasonably be expected to have a Material Adverse Effect.

Pension Matters. 10.11.1 No steps have been taken Schedule 7.17 of the Disclosure Schedule sets forth, as of the date hereof, a complete and correct list of, and that separately identifies, (a) all Title IV Plans, (b) all Multiemployer Plans and (c) all material Benefit Plans. Each Benefit Plan, and each trust thereunder, intended to terminate any Pension Plan (wholly qualify for tax exempt status under Section 401 or in part)501 of the Code or other Requirements of Law has received a favorable determination letter from the IRS, which would result in an Obligor being required or is entitled to make an additional contribution to rely upon a favorable opinion letter from the Pension Plan; no contribution failure IRS, and nothing has occurred with respect to any Pension Plan sufficient to give rise to a Lien since the date of such determination or charge under any Applicable Laws opinion letter that could adversely affect the qualified status of any jurisdiction governing pension benefits; no condition exists and no event or transaction has occurred with respect to any Pension Plan which might result such Benefit Plan. Except for those that could not, in the incurrence by any Obligor of any liabilityaggregate, fine or penalty; and no Obligor has any contingent liability with respect to any post-retirement non-pension benefit; in each case, that would reasonably be expected to have a Material Adverse Effect. 10.11.2 Each Pension , (x) each Benefit Plan is in compliance in all material respects with all Applicable Laws governing pension benefits applicable provisions of ERISA, the Code and Taxesother Requirements of Law, (iy) all contributions there are no existing or pending (including employee contributions made by authorized payroll deductions or to the knowledge of any Obligor, threatened) claims (other than routine claims for benefits in the normal course), sanctions, actions, lawsuits or other withholdingsproceedings or investigation involving any Benefit Plan to which any Obligor incurs or otherwise has or could have an obligation or any liability or Claim and (z) required no ERISA Event is reasonably expected to be made occur. Borrower and each of its ERISA Affiliates has met all applicable requirements under the ERISA Funding Rules with respect to the appropriate funding agency in accordance with all Applicable Laws and the terms of each Pension Plan have been made in accordance with all Applicable Laws and the terms of each Pension Title IV Plan, (ii) all liabilities under each Pension Plan are fully funded, on a going concern and solvency basis, in accordance with the terms no waiver of the respective Pension Plans, minimum funding standards under the requirements ERISA Funding Rules has been applied for or obtained. As of Applicable Laws governing pension benefits and the most recent actuarial report filed with Governmental Authorities with respect to the Pension valuation date for any Title IV Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is at least 60%, and (iii) no event has occurred and no conditions exist with respect to neither Borrower nor any Pension Plan of its ERISA Affiliates knows of any facts or circumstances that has resulted or would could reasonably be expected to cause the funding target attainment percentage to fall below 60% as of the most recent valuation date. As of the date hereof, no ERISA Event has occurred in connection with which obligations and liabilities (contingent or otherwise) remain outstanding. No ERISA Affiliate would have any Withdrawal Liability as a result in of a complete withdrawal from any Pension Multiemployer Plan having its registration revoked or refused for on the purposes of any Applicable Laws governing pension benefits or Taxes or being placed under the administration of any relevant pension benefits Governmental Authority or being required to pay any Taxes or penalties under any Applicable Laws governing pension benefits or Taxes, except for any exceptions to clauses (i) through (iii) above that would not reasonably be expected to have a Material Adverse Effectdate this representation is made.