Common use of Pension, Welfare and other Similar Plans Clause in Contracts

Pension, Welfare and other Similar Plans. No steps have been taken to terminate any pension plan of any Loan Party or any of its Subsidiaries. No condition exists or event or transaction has occurred with respect to any such pension plan that would reasonably be expected to result in the incurrence by any Loan Party or any of its Subsidiaries of any liability, fine or penalty (other than liabilities incurred in the ordinary course of maintaining such pension plan), that would have or be reasonably likely to have a Material Adverse Effect. Except as would not have or be reasonably likely to have a Material Adverse Effect, each Loan Party and its Subsidiaries is in compliance with and has duly and in a timely manner paid any amounts due to any mandatory retirement fund laws.