Common use of Pension Obligations Clause in Contracts

Pension Obligations. (i) Immediately upon acquiring knowledge or ------------------- reason to know of the occurrence or existence with respect to any Pension Plan of any Prohibited Transaction, Reportable Event, Accumulated Funding Deficiency or event or condition that, but for a waiver by the Internal Revenue Service, would constitute an Accumulated Funding Deficiency, that, after notice, after lapse of time or after both notice and lapse of time, will or might constitute a Reportable Event or that constitutes or will or might constitute grounds for the initiation by the Pension Benefit Guaranty Corporation of any proceeding under ERISA seeking the termination of such Pension Plan or the appointment of a trustee to administer such Pension Plan, provide to the Bank a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower and specifying the nature of such Prohibited Transaction, Reportable Event, Accumulated Funding Deficiency, event or condition, what action the Borrower has taken, is taking or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service, by the Department of Labor or by the Pension Benefit Guaranty Corporation with respect thereto and (ii) immediately upon acquiring knowledge or reason to know of (A) the institution by the Pension Benefit Guaranty Corporation or by any other Person of any proceeding under ERISA seeking the termination of any Pension Plan or the appointment of a trustee to administer any Pension Plan or (B) the complete or partial withdrawal or proposed complete or partial withdrawal by the Borrower or by any Subsidiary from any Pension Plan, provide to the Bank a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower and describing such proceeding, withdrawal or proposed withdrawal;

Pension Obligations. (i) Immediately upon acquiring knowledge or ------------------- reason to know of the occurrence or existence with respect to any Pension Plan of any Prohibited Transaction, Reportable Event, Accumulated Funding Deficiency or event or condition that, but for a waiver by the Internal Revenue Service, would constitute an Accumulated Funding Deficiency, that, after notice, after lapse of time or after both notice and lapse of time, will or might constitute a Reportable Event or that constitutes or will or might constitute grounds for the initiation by the Pension Benefit Guaranty Corporation of any proceeding under ERISA seeking the termination of such Pension Plan or the appointment of a trustee to administer such Pension Plan, provide to the Bank a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower and specifying the nature of such Prohibited Transaction, Reportable Event, Accumulated Funding Deficiency, event or condition, what action the Borrower has taken, is taking or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service, by the Department of Labor or by the Pension Benefit Guaranty Corporation with respect thereto and (ii) immediately upon acquiring knowledge or reason to know of (A) the institution by the Pension Benefit Guaranty Corporation or by any other Person of any proceeding under ERISA seeking the termination of any Pension Plan or the appointment of a trustee to administer any Pension Plan or (B) the complete or partial withdrawal or proposed complete or partial withdrawal by the Borrower or by any Subsidiary from any Pension Plan, provide to the Bank a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower and describing such proceeding, withdrawal or proposed withdrawal;

Pension Obligations. (i) Immediately Promptly upon acquiring knowledge or ------------------- reason to know in the ordinary course of its business of the occurrence or existence with respect to any Pension Plan of any Prohibited Transaction, Reportable Event, Event or Accumulated Funding Deficiency or any event or condition that, that (A) but for a waiver by the Internal Revenue Service, Service would constitute an Accumulated Funding Deficiency, that, (B) after notice, after lapse of time or after both notice and lapse of time, time will or might constitute a Reportable Event or that (C) constitutes or will or might constitute grounds for the initiation by the Pension Benefit Guaranty Corporation of any proceeding under ERISA seeking the termination of such Pension Plan or the appointment of a trustee to administer such Pension Plan, provide to the Bank each Lending Entity a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower Designated Officer and specifying the nature of such Prohibited Transaction, Reportable Event, Accumulated Funding Deficiency, event or condition, what action the Borrower has taken, is taking or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service, by the Department of Labor or by the Pension Benefit Guaranty Corporation with respect thereto and (ii) immediately promptly upon acquiring knowledge or reason to know in the ordinary course of its business of (A) the institution by the Pension Benefit Guaranty Corporation or by any other Person of any proceeding under ERISA seeking the termination of any Pension Plan or the appointment of a trustee to administer any Pension Plan or (B) the complete or partial withdrawal or proposed complete or partial withdrawal by the Borrower or by any Subsidiary from any Pension Plan, provide to the Bank each Lending Entity a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower and Designated Officer describing such proceeding, withdrawal or proposed withdrawal;

Pension Obligations. (i) Immediately Promptly upon acquiring knowledge or ------------------- reason to know in the ordinary course of its business of the occurrence or existence with respect to any Pension Plan of any Prohibited Transaction, Reportable Event, Event or Accumulated Funding Deficiency or any event or condition that, that (A) but for a waiver by the Internal Revenue Service, Service would constitute an Accumulated Funding Deficiency, that, (B) after notice, after lapse of time or after both notice and lapse of time, time will or might constitute a Reportable Event or that (C) constitutes or will or might constitute grounds for the initiation by the Pension Benefit Guaranty Corporation of any proceeding under ERISA seeking the termination of such Pension Plan or the appointment of a trustee to administer such Pension Plan, provide to the Bank each Lending Entity a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower Designated Officer and specifying the nature of such Prohibited Transaction, Reportable Event, Accumulated Funding Deficiency, event or condition, what action the Borrower has taken, is taking or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service, by the Department of Labor or by the Pension Benefit Guaranty Corporation with respect thereto and (ii) immediately promptly upon acquiring knowledge or reason to know in the ordinary course of its business of (A) the institution by the Pension Benefit Guaranty Corporation or by any other Person of any proceeding under ERISA seeking the termination of any Pension Plan or the appointment of a trustee to administer any Pension Plan or (B) the complete or partial withdrawal or proposed complete or partial withdrawal by the Borrower or by any Subsidiary from any Pension Plan, provide to the Bank each Lending Entity a certificate executed by the President or a Vice President of the Borrower and by the chief financial officer of the Borrower and Designated Officer describing such proceeding, withdrawal or proposed withdrawal;.