Common use of Pension Plans and Welfare Plans Clause in Contracts

Pension Plans and Welfare Plans. Promptly upon, but in any event within five Business Days after, an executive officer of any Borrower becoming aware of any of the following, such Borrower shall give the Agent notice thereof; the occurrence of a Reportable Event with respect to any Pension Plan; the filing of a notice of intent to terminate a Pension Plan by any Borrower, any Subsidiary, or any ERISA Affiliate; the institution of proceedings to terminate a Pension Plan by the PBGC or any other Person which, if such proceedings are instituted with respect to an ERISA Affiliate, could have a Material Adverse Effect; the withdrawal in a "complete withdrawal" or a "partial withdrawal" as defined in Sections 4203 and 4205, respectively, by any Borrower, any Subsidiary of any Borrower or any ERISA Affiliate (to the extent such withdrawal could have a Material Adverse Effect) from any Multiemployer Plan; the failure of any Borrower, any Subsidiary of any Borrower or any ERISA Affiliate to make a required contribution to any Pension Plan including, but not limited to, any failure to pay an amount sufficient to give rise to a Lien under Section 302(f) of ERISA; the taking of any action with respect to a Pension Plan which could result in the requirement that any Borrower, any Subsidiary of any Borrower, or any ERISA Affiliate furnish a bond or other security to the PBGC or such Pension Plan; the occurrence of any event with respect to any Pension Plan which could result in the incurrence by any Borrower, any Subsidiary of any Borrower or any ERISA Affiliate of any liability, fine or penalty which is material in amount; the establishment of a new plan subject to ERISA or an amendment to any existing plan subject to ERISA which will result in a material increase in contributions or benefits under such plan or the incurrence of any material increase in the liability of a Borrower or any Subsidiary of any Borrower (or any ERISA Affiliate to the extent there is joint and several liability with a Borrower or any Subsidiary of any Borrower), including, but not limited to, plans providing welfare benefits to retirees.

Pension Plans and Welfare Plans. Promptly upon, but in any event within five Business Days after, an executive officer of any Borrower becoming aware of any of the following, such Borrower shall give the Agent notice thereof; the The occurrence of a Reportable Event with respect to any Pension Plan; the filing of a notice of intent to terminate a Pension Plan by any Borrower, any SubsidiaryERISA Affiliate, or any ERISA Affiliateother Obligor; the institution of proceedings to terminate a Pension Plan by the PBGC or any other Person which, if such proceedings are instituted with respect to an ERISA Affiliate, could have a Material Adverse EffectPerson; the withdrawal in a "complete withdrawal" or a "partial withdrawal" as defined in Sections 4203 and 4205, respectively, of ERISA by any Borrower, any Subsidiary of any Borrower ERISA Affiliate or any ERISA Affiliate (to the extent such withdrawal could have a Material Adverse Effect) other Obligor from any Multiemployer Plan, which complete or partial withdrawal results in a liability to such Multiemployer Plan in excess of $1,000,000; the failure of any Borrower, any Subsidiary of any Borrower other Obligor or any ERISA Affiliate to make a required contribution to any Pension Plan includingPlan, including but not limited to, to any failure to pay an amount sufficient to give rise to a Lien under Section 302(f) of ERISA; the taking of any action with respect to a Pension Plan which could result in the requirement that any Borrower, any Subsidiary of any Borrower, other Obligor or any ERISA Affiliate furnish a bond or other security to the PBGC or such Pension Plan; the occurrence of any other event with respect to any Pension Plan which could result in the incurrence by any Borrower, any Subsidiary of any Borrower other Obligor or any ERISA Affiliate of any material liability, fine or penalty which is material in amountpenalty; or the establishment of a new plan subject to ERISA or an amendment to any existing plan subject to ERISA which will result in a material increase in contributions or benefits under such plan or the incurrence of any material increase in the liability of a Borrower or Borrower, any Subsidiary of any Borrower other Obligor (or any an ERISA Affiliate to the extent there is joint and several liability with a Borrower or any Subsidiary other Obligor) or any Designated Subsidiary, with respect to any "employee welfare benefit plan" as defined in Section 3(l) of any Borrower), including, but not limited to, plans providing welfare benefits ERISA which covers former employees thereof or current employees and their beneficiaries with respect to retirees.claims incurred after the termination of their employment;

Pension Plans and Welfare Plans. Promptly upon, but in any event within five Business Days after, an executive officer of any Borrower becoming aware of any of the following, such Borrower shall give the Agent notice thereof; the The occurrence of a Reportable Event with respect to any Pension Plan; the filing of a notice of intent to terminate a Pension Plan by any Borrower, any SubsidiaryERISA Affiliate, or any ERISA Affiliateother Obligor; the institution of proceedings to terminate a Pension Plan by the PBGC or any other Person which, if such proceedings are instituted with respect to an ERISA Affiliate, could have a Material Adverse EffectPerson; the withdrawal in a "complete withdrawal" or a "partial withdrawal" as defined in Sections 4203 and 4205, respectively, of ERISA by any Borrower, any Subsidiary of any Borrower ERISA Affiliate or any ERISA Affiliate (to the extent such withdrawal could have a Material Adverse Effect) other Obligor from any Multiemployer Plan; the failure of any Borrower, any Subsidiary of any Borrower other Obligor or any ERISA Affiliate to make a required contribution to any Pension Plan includingPlan, including but not limited to, to any failure to pay an amount sufficient to give rise to a Lien under Section 302(f) of ERISA; the taking of any action with respect to a Pension Plan which could result in the requirement that any Borrower, any Subsidiary of any Borrower, other Obligor or any ERISA Affiliate furnish a bond or other security to the PBGC or such Pension Plan; the occurrence of any other event with respect to any Pension Plan which could result in the incurrence by any Borrower, any Subsidiary of any Borrower other Obligor or any ERISA Affiliate of any material liability, fine or penalty which is material in amountpenalty; or the establishment of a new plan subject to ERISA or an amendment to any existing plan subject to ERISA which will result in a material increase in contributions or benefits under such plan or the incurrence of any material increase in the liability of a Borrower or Borrower, any Subsidiary of any Borrower other Obligor (or any an ERISA Affiliate to the extent there is joint and several liability with a Borrower or any Subsidiary other Obligor) or any Subsidiary, with respect to any "employee welfare benefit plan" as defined in Section 3(1) of any Borrower), including, but not limited to, plans providing welfare benefits ERISA which covers former employees thereof or current employees and their beneficiaries with respect to retirees.claims incurred after the termination of their employment;

Pension Plans and Welfare Plans. Promptly upon, but in any event within five Business Days after, an executive officer of any Borrower becoming aware of any of the following, such Borrower shall give the Agent notice thereof; the The occurrence of a Reportable Event with respect to any Pension Plan; the filing of a notice of intent to terminate a Pension Plan by any Borrower, any SubsidiaryERISA Affiliate, or any ERISA Affiliateother Obligor; the institution of proceedings to terminate a Pension Plan by the PBGC or any other Person which, if such proceedings are instituted with respect to an ERISA Affiliate, could have a Material Adverse EffectPerson; the withdrawal in a "complete withdrawal" or a "partial withdrawal" withdrawal as defined in Sections 4203 and 4205, respectively, of ERISA by any Borrower, any Subsidiary of any Borrower ERISA Affiliate or any ERISA Affiliate (to the extent such withdrawal could have a Material Adverse Effect) other Obligor from any Multiemployer Plan; the failure of any Borrower, any Subsidiary of any Borrower other Obligor or any ERISA Affiliate to make a required contribution to any Pension Plan includingPlan, including but not limited to, to any failure to pay an amount sufficient to give rise to a Lien under Section 302(f) of ERISA; the taking of any action with respect to a Pension Plan which could result in the requirement that any Borrower, any Subsidiary of any Borrower, other Obligor or any ERISA Affiliate furnish a bond or other security to the PBGC or such Pension Plan; the occurrence of any other event (other than an amendment to any Pension Plan which is required by a change in a provision of ERISA or the Code applicable to such plan) with respect to any Pension Plan which could result in the incurrence by any Borrower, any Subsidiary of any Borrower other Obligor or any ERISA Affiliate of any material liability, fine or penalty which is material in amountpenalty; the establishment of a new plan subject to ERISA or an amendment to any existing plan subject to ERISA which will result in a material increase in contributions or benefits under such plan or the incurrence of any material increase in the contingent liability of a Borrower any Borrower, any other Obligor or any Subsidiary with respect to any "employee welfare benefit plan" as defined in Section 3(1) of any Borrower (ERISA which covers retired or any ERISA Affiliate to the extent there is joint terminated employees and several their beneficiaries, other than liability with a Borrower or any Subsidiary for continuation coverage described in Part 6 of any Borrower), including, but not limited to, plans providing welfare benefits to retirees.Subtitle B of Title I of ERISA;

Pension Plans and Welfare Plans. Promptly upon, but in any event within five Business Days after, an executive officer of any Borrower becoming aware of any of the following, such Borrower shall give the Agent notice thereof; the occurrence of a Reportable Event with respect to any Pension Plan; the filing of a notice of intent to terminate a Pension Plan by any Borrower, any Borrower or Other Subsidiary, or any ERISA Affiliate; the institution of proceedings to terminate a Pension Plan by the PBGC or any other Person which, if such proceedings are instituted with respect to an ERISA Affiliate, could have a Material Adverse Effect; the withdrawal in a "complete withdrawal" or a "partial withdrawal" as defined in Sections 4203 and 4205, respectively, by any Borrower, any Borrower or Other Subsidiary of any Borrower or any ERISA Affiliate (to the extent such withdrawal could have a Material Adverse Effect) from any Multiemployer Plan; the failure of any Borrower, any Borrower or Other Subsidiary of any Borrower or any ERISA Affiliate to make a required contribution to any Pension Plan including, but not limited to, any failure to pay an amount sufficient to give rise to a Lien under Section 302(f) of ERISA; the taking of any action with respect to a Pension Plan which could result in the requirement that any Borrower, any Subsidiary of any BorrowerBorrower or Other Subsidiary, or any ERISA Affiliate furnish a bond or other security to the PBGC or such Pension Plan; the occurrence of any event with respect to any Pension Plan which could result in the incurrence by any Borrower, any Borrower or Other Subsidiary of any Borrower or any ERISA Affiliate of any liability, fine or penalty which is material in amount; the establishment of a new plan subject to ERISA or an amendment to any existing plan subject to ERISA which will result in a material increase in contributions or benefits under such plan or the incurrence of any material increase in the liability of a Borrower or any Other Subsidiary of any Borrower (or any ERISA Affiliate to the extent there is joint and several liability with a Borrower or any Subsidiary of any BorrowerOther Subsidiary), including, but not limited to, plans providing welfare benefits to retirees.