Common use of Plans and Material Documents Clause in Contracts

Plans and Material Documents. (a) LTC has made available all Benefit Plans with respect to which LTC or any Affiliate of LTC has or had in the past any obligation or liability or which are or were in the past maintained, contributed to or sponsored by LTC or any Affiliate of LTC for the benefit of any current or former employee, officer or director of LTC or any Affiliate of LTC. Neither LTC nor any of LTC's Subsidiaries has any express or implied commitment to create, incur liability with respect to, or cause to exist, any Benefit Plan or to modify any Benefit Plan, other than as required by Law. (b) Each Benefit Plan is in compliance in all material respects with, and has been operated in all material respects in accordance with, its terms and the requirements of all applicable Laws, and LTC and the Affiliates of LTC have satisfied in all material respects all of their statutory, regulatory and contractual obligations with respect to each such Benefit Plan. No legal action, suit or claim is pending or, to the knowledge of the GAIA Holding Stockholder or LTC, threatened with respect to any Benefit Plan (other than claims for benefits in the ordinary course) and no fact or event exists that would reasonably be expected to give rise to any such action, suit or claim. (c) All material contributions, premiums or payments required to be made with respect to any Benefit Plan have been made on or before their due dates.

Plans and Material Documents. (a) LTC GAIA has made available all Benefit Plans with respect to which LTC GAIA or any Affiliate of LTC GAIA has or had in the past any obligation or liability or which are or were in the past maintained, contributed to or sponsored by LTC GAIA or any Affiliate of LTC GAIA for the benefit of any current or former employee, officer or director of LTC GAIA or any Affiliate of LTCGAIA. Neither LTC GAIA nor any of LTCGAIA's Subsidiaries has any express or implied commitment to create, incur liability with respect to, or cause to exist, any Benefit Plan or to modify any Benefit Plan, other than as required by Law. (b) Each Benefit Plan is in compliance in all material respects with, and has been operated in all material respects in accordance with, its terms and the requirements of all applicable Laws, and LTC GAIA and the Affiliates of LTC GAIA have satisfied in all material respects all of their statutory, regulatory and contractual obligations with respect to each such Benefit Plan. No legal action, suit or claim is pending or, to the knowledge of the GAIA Holding Stockholder or LTCGAIA, threatened with respect to any Benefit Plan (other than claims for benefits in the ordinary course) and no fact or event exists that would reasonably be expected to give rise to any such action, suit or claim. (c) All material contributions, premiums or payments required to be made with respect to any Benefit Plan have been made on or before their due dates.