Common use of Pension Matters Clause in Contracts

Pension Matters. (a)(i) Any Plan shall fail to satisfy the minimum funding standard required for any plan year or part thereof under Section 412 of the Code or Section 302 of ERISA or a waiver of such standard or extension of any amortization period is sought or granted under Section 412 of the Code or Section 303 or 304 of ERISA, (ii) a Reportable Event shall have occurred, (iii) any Plan that is subject to Title IV of ERISA is, shall have been or is likely to be terminated or to be the subject of termination proceedings under ERISA, (iv) any Plan shall have an Unfunded Current Liability, (v) a contribution required to be made by Holdings or any Subsidiary of Holdings with respect to a Plan, a Multiemployer Plan or a Foreign Pension Plan has not been timely made, (vi) Holdings or any Subsidiary of Holdings or any ERISA Affiliate has incurred or is likely to incur any liability to or on account of a Multiemployer Plan or (vii) Holdings or any Subsidiary of Holdings has incurred or is likely to incur liabilities pursuant to one or more employee welfare benefit plans (as defined in Section 3(1) of ERISA) that provide benefits to retired employees or other former employees (other than as required by Section 137 601 of ERISA) or pursuant to any Plan or Foreign Pension Plan; (b) there shall result from the event or events set forth in this Section 8.06 the imposition of a lien, the granting of a security interest, or a liability; and (c) such lien, security interest or liability, individually and/or in the aggregate, in the opinion of the Required Lenders, has had, or could reasonably be expected to have, a Material Adverse Effect; or

Pension Matters. (a)(i) Any Plan shall fail to satisfy the minimum funding standard required for any plan year or part thereof under Section 412 of the Code or Section 302 of ERISA or a waiver of such standard or extension of any amortization period is sought or granted under Section 412 of the Code or Section 303 or 304 of ERISA, (ii) a Reportable Event shall have occurred, (iii) any Plan that is subject to Title IV of ERISA is, shall have been or is likely to be terminated or to be the subject of termination proceedings under ERISA, (iv) any Plan shall have an Unfunded Current Liability, (v) a contribution required to be made by Holdings the US Borrower or any Subsidiary of Holdings the US Borrower with respect to a Plan, a Multiemployer Plan or a Foreign Pension Plan has not been timely made, (vi) Holdings the US Borrower or any Subsidiary of Holdings the US Borrower or any ERISA Affiliate has incurred or is likely to incur any liability to or on account of a Multiemployer Plan or Plan, (vii) Holdings the US Borrower or any Subsidiary of Holdings the US Borrower has incurred or is likely to incur liabilities pursuant to one or more employee welfare benefit plans (as defined in Section 3(1) of ERISA) that provide benefits to retired employees or other former employees (other than as required by Section 137 601 of ERISA) or pursuant to any Plan or Foreign Pension Plan, (viii) 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) or (ix) 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) ; (b) there shall result from the event or events set forth in this Section 8.06 the imposition of a lien, the granting of a security interest, or a liability; and (c) such lien, security interest or liability, individually and/or in the aggregate, in the opinion of the Required Lenders, has had, or could reasonably be expected to have, a Material Adverse Effect; or

Pension Matters. (a)(i) Any Each Plan shall fail (and each related trust, insurance contract or fund) is in substantial compliance with its terms and with all applicable laws, including without limitation ERISA and the Code; (ii) each Plan that is intended to satisfy be qualified under Section 401(a) of the minimum funding standard required Code has received a determination letter from the Internal Revenue Service to the effect that it meets the requirements of Sections 401(a) and 501(a) of the Code and such determination letter has not been revoked; (iii) no Reportable Event has occurred or is reasonably expected to occur that, when taken together with all other such Reportable Events for any plan year or part thereof under which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect; (iv) no Plan has an Unfunded Current Liability; (v) no Plan that is subject to Section 412 of the Code or Section 302 of ERISA has failed to satisfy the minimum funding standard, within the meaning of such sections of the Code or ERISA, applicable to such Plan, or has applied for or received a waiver of such the minimum funding standard with respect to any Plan or an extension of any amortization period is sought or granted under period, within the meaning of Section 412 of the Code or Section 303 or 304 of ERISA, ; (iivi) a Reportable Event shall have occurred, (iii) any Plan that is subject to Title IV of ERISA is, shall have been or is likely to be terminated or to be neither the subject of termination proceedings under ERISA, (iv) any Plan shall have an Unfunded Current Liability, (v) a contribution required to be made by Holdings or US Borrower nor any Subsidiary of Holdings with respect to a Plan, a Multiemployer Plan or a Foreign Pension Plan has not been timely made, (vi) Holdings or any Subsidiary of Holdings or the US Borrower nor any ERISA Affiliate has incurred or is likely to incur any liability to or on account of a Multiemployer Plan pursuant to Section 515, 4201, 4204, or 4212 of ERISA; (vii) Holdings no proceedings have been instituted under Section 4042 of ERISA to terminate or appoint a trustee to administer any Subsidiary Plan that is subject to Title IV of Holdings ERISA; (viii) there has incurred been no determination that any Multiemployer Plan is, or is likely expected to incur liabilities pursuant to one be, insolvent or more employee welfare benefit plans in reorganization, within the meaning of Title IV of ERISA or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA); (ix) there has been no determination that any Plan is in “at-risk” status (as defined in Section 3(1430(i)(4) of the Code or Section 303(i)(4) of ERISA) that provide benefits to retired employees or other former employees (other than as required by Section 137 601 of ERISA) or pursuant to any Plan or Foreign Pension Plan; (b) there shall result from the event or events set forth in this Section 8.06 the imposition of a lien, the granting of a security interest, or a liability); and (cx) such lienno lien imposed under the Code or ERISA on the assets of the US Borrower or any Subsidiary of the US Borrower or any ERISA Affiliate exists or is likely to arise on account of any Plan; except, security interest with respect to clauses (iii)-(xi), to the extent any exceptions thereunder could not, either individually or liability, individually and/or in the aggregate, in the opinion of the Required Lenders, has had, or could reasonably be expected to have, have a Material Adverse Effect; or.

Pension Matters. (a)(i) Any Each Plan shall fail (and each related trust, insurance contract or fund) is in substantial compliance with its terms and with all applicable laws, including without limitation ERISA and the Code; (ii) each Plan that is intended to satisfy be qualified under Section 401(a) of the minimum funding standard required for any plan year or part thereof under Code has received a determination letter from the Internal Revenue Service to the effect that it meets the requirements of Sections 401(a) and 501(a) of the Code and such determination letter has not been revoked; (iii) no Reportable Event has occurred; (iv) no Plan has an Unfunded Current Liability; (v) no Plan that is subject to Section 412 of the Code or Section 302 of ERISA has failed to satisfy the minimum funding standard, within the meaning of such sections of the Code or ERISA, applicable to such Plan, or has applied for or received a waiver of such the minimum funding standard with respect to any Plan or an extension of any amortization period is sought or granted under period, within the meaning of Section 412 of the Code or Section 303 or 304 of ERISA, ; (iivi) a Reportable Event shall have occurred, (iii) any Plan that is subject to Title IV of ERISA is, shall have been or is likely to be terminated or to be neither the subject of termination proceedings under ERISA, (iv) any Plan shall have an Unfunded Current Liability, (v) a contribution required to be made by Holdings or US Borrower nor any Subsidiary of Holdings with respect to a Plan, a Multiemployer Plan or a Foreign Pension Plan has not been timely made, (vi) Holdings or any Subsidiary of Holdings or the US Borrower nor any ERISA Affiliate has incurred or is likely to incur any liability to or on account of a Multiemployer Plan pursuant to Section 515, 4201, 4204, or 4212 of ERISA; (vii) Holdings no proceedings have been instituted under Section 4042 of ERISA to terminate or appoint a trustee to administer any Subsidiary Plan that is subject to Title IV of Holdings ERISA; (viii) there has incurred been no determination that any Multiemployer Plan is, or is likely expected to incur liabilities pursuant to one be, insolvent or more employee welfare benefit plans in reorganization, within the meaning of Title IV of ERISA or in “endangered” or “critical” status (within the meaning of Section 432 of the Code or Section 305 of ERISA); (ix) there has been no determination that any Plan is in “at-risk” status (as defined in Section 3(1430(i)(4) of the Code or Section 303(i)(4) of ERISA) that provide benefits to retired employees or other former employees (other than as required by Section 137 601 of ERISA) or pursuant to any Plan or Foreign Pension Plan; (b) there shall result from the event or events set forth in this Section 8.06 the imposition of a lien, the granting of a security interest, or a liability); and (cx) such lienno lien imposed under the Code or ERISA on the assets of the US Borrower or any Subsidiary of the US Borrower or any ERISA Affiliate exists or is likely to arise on account of any Plan; except, security interest with respect to clauses (iii)-(xi), to the extent any exceptions thereunder could not, either individually or liability, individually and/or in the aggregate, in the opinion of the Required Lenders, has had, or could reasonably be expected to have, have a Material Adverse Effect; or. 110