PENSION PAYMENT DEFAULT Clause Samples

PENSION PAYMENT DEFAULT. As soon as possible and in any event by the 10th day after any required installment or other payment under Section 412 of the Code owed to a Pension Plan shall have become due and owing and remains unpaid a copy of the notice of failure to make required contributions provided to the PBGC by the Borrower or any ERISA Affiliate under Section 412(n) of the Code, together with a certificate of the president or chief financial officer setting forth the action which the Borrower or any ERISA Affiliate proposes to take with respect thereto.