Common use of Prohibited Transactions and Payments Clause in Contracts

Prohibited Transactions and Payments. Neither Borrower nor any ERISA Affiliate has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 8 contracts

Samples: Loan Agreement (Aquis Communications Group Inc), Loan Agreement (Paging Partners Corp), Loan Agreement (Ich Corp /De/)

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Prohibited Transactions and Payments. Neither any Borrower nor any ERISA Affiliate has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 6 contracts

Samples: Loan Agreement (Security Associates International Inc), Subordinated Loan Agreement (Security Associates International Inc), Loan Agreement (Security Associates International Inc)

Prohibited Transactions and Payments. Neither Borrower nor any ERISA Affiliate of Borrower has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 2 contracts

Samples: Loan Agreement (Practice Works Inc), Loan Agreement (Practice Works Inc)

Prohibited Transactions and Payments. Neither No Borrower nor or any of its ------------------------------------ ERISA Affiliate Affiliates has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 1 contract

Samples: Loan Agreement (Infocure Corp)

Prohibited Transactions and Payments. Neither Borrower the Borrowers nor ------------------------------------ any ERISA Affiliate has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 1 contract

Samples: Loan Agreement (Red Robin Gourmet Burgers Inc)

Prohibited Transactions and Payments. Neither Borrower Borrower, Guarantor nor any ERISA Affiliate has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 1 contract

Samples: Loan Agreement (Us 1 Industries Inc)

Prohibited Transactions and Payments. Neither Borrower nor any ERISA Affiliate has: (i) knowingly engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 1 contract

Samples: Loan Agreement (Scott Cable Communications Inc)

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Prohibited Transactions and Payments. Neither Borrower the Company nor any ERISA Affiliate has: has (i) engaged in a nonexempt non-exempt "prohibited transaction" as such term is 21 defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Codecode.

Appears in 1 contract

Samples: Stock Purchase Agreement (Security Associates International Inc)

Prohibited Transactions and Payments. Neither any Borrower nor any ERISA Affiliate of any Borrower has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 1 contract

Samples: Loan Agreement (Infocure Corp)

Prohibited Transactions and Payments. Neither Borrower No Obligor nor any ERISA Affiliate has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 1 contract

Samples: Loan Agreement (Citadel License Inc)

Prohibited Transactions and Payments. Neither Borrower Borrower, any of its Subsidiaries nor any ERISA Affiliate has: (i) engaged in a nonexempt "prohibited transaction" as such term is defined in Section 406 of ERISA or Section 4975 of the Code; (ii) incurred any liability to the PBGC which remains outstanding other than the payment of premiums and there are no premium payments which are due and unpaid; (iii) failed to make a required contribution or payment to a Multiemployer Plan; or (iv) failed to make a required installment or other required payment under Section 412 of the Code.

Appears in 1 contract

Samples: Loan Agreement (Security Associates International Inc)

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