Common use of Relationship of Vested Benefits to Pension Plan Assets Clause in Contracts

Relationship of Vested Benefits to Pension Plan Assets. The present value of all vested benefits under each Plan maintained by Guarantor or the Borrower that is a "defined benefit plan" as that term is defined in Section 3(35) of ERISA, as from time to time in effect, does not exceed (on a termination basis utilizing the same actuarial assumptions contained in the most recent actuarial report for such Plan) the value of the assets of the Plans allocable to such vested benefits.

Relationship of Vested Benefits to Pension Plan Assets. The present value of all vested benefits under each Plan maintained by Guarantor Maritrans or the a Borrower that is a "defined benefit plan" as that term is defined in Section 3(35) of ERISA, as from time to time in effect, does not exceed (on a termination basis utilizing the same actuarial assumptions and asset values contained in the most recent actuarial report for such Plan) the value of the assets of the Plans allocable to such vested benefits.

Relationship of Vested Benefits to Pension Plan Assets. The present aggregate value of all benefits vested benefits under each Plan maintained by Guarantor or the Borrower that is a all qualified "defined benefit plan" pension plans", as that such term is defined in Section 3(35) 3 of ERISA, maintained by the Company and its Related Persons, or in which employees of the Company or any Related Person are entitled to participate, as from time to time in effecteffect (herein called the "Pension Plans"), does not did not, as of January 1, 1990, the last annual valuation date, exceed (on a termination basis utilizing the same actuarial assumptions contained in the most recent actuarial report for such Plan) the or market value of the assets of the Pension Plans allocable to such vested benefits.

Relationship of Vested Benefits to Pension Plan Assets. The present aggregate value of all benefits vested benefits under each Plan maintained by Guarantor or the Borrower that is a all qualified "defined benefit plan" pension plans", as that such term is defined in Section 3(35) 3 of ERISA, maintained by the Company and its Related Persons, or in which employees of the Company or any Related Person are entitled to participate, as from time to time in effecteffect (herein called the "Pension Plans"), does not did not, as of January 1, 1994, the last annual valuation date, exceed (on a termination basis utilizing the same actuarial assumptions contained in the most recent actuarial report for such Plan) the or market value of the assets of the Pension Plans allocable to such vested benefits.