Common use of Terminability of Welfare Plans Clause in Contracts

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable to employees (or their dependents) after termination of employment (except as required by Title I, Part 6 of ERISA). The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section §3(1) or Section §3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I1, Part 6 of ERISA). The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan employee welfare benefit plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without material liability to any Person.

Terminability of Welfare Plans. Under each No Employee Benefit Plan Plan, which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable provides benefit coverage subsequent to employees (or their dependents) after termination of employment (employment, except as required by Title I, Part 6 of ERISA)ERISA or the applicable state insurance laws. The Borrower or an ERISA Affiliate, as appropriate, Borrowers may terminate each such Plan employee welfare benefit plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate Borrowers without liability to any PersonPerson other than for claims arising prior to termination.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1ss.3(1) or Section 3(2)(Bss.3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part 6 of ERISA). The Such Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the such Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part 6 of ERISA). The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part 6 of ERISA). The Borrower Credit Parties or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower Credit Parties or such ERISA Affiliate without liability to any Person, other than for benefits which have accrued prior to termination.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1ss.3(1) or Section 3(2)(Bss.3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part part 6 of ERISA). The .) Each Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the such Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section §3(1) or Section §3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I1, Part 6 of ERISA). The Borrower WMI or an ERISA Affiliate, as appropriate, may terminate each such Plan employee welfare benefit plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower WMI or such ERISA Affiliate without material liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section §3(1) or Section §3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I1, Part 6 of ERISA). The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without material liability to any Person.

Terminability of Welfare Plans. Under each No Employee Benefit Plan which is ------------- -- ------- ----- an employee welfare benefit plan within the meaning of Section 3(1(S)3(1) or Section 3(2)(B(S)3(2)(B) of ERISA, no benefits are payable provides benefit coverage subsequent to employees (or their dependents) after termination of employment (except as required by Title I, Part 6 of ERISA)ERISA or applicable state insurance laws. The Any Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the such Borrower or such ERISA Affiliate without liability to any PersonPerson other than for claims arising prior to termination.

Terminability of Welfare Plans. Under each [Other than severance paid plans], no Employee Benefit Plan Plan, which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable provides benefit coverage subsequent to employees (or their dependents) after termination of employment (employment, except as required by Title I, Part 6 of ERISA)ERISA or the applicable state insurance laws. The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any PersonPerson other than for claims arising prior to termination.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part part 6 of ERISA). The .) Each Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the such Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part part 6 of ERISA). The .) Each Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the such Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part 6 of ERISA)) . The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section §3(1) or Section §3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I1, Part 6 of ERISA)) . The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without material liability to any Person.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part 6 of ERISA). The Borrower Either of the US Borrowers or the Parent or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate Person without liability to any Person.

Terminability of Welfare Plans. Under each No Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable provides benefit coverage subsequent to employees (or their dependents) after termination of employment (except as required by Title I, Part 6 of ERISA)ERISA or applicable state insurance laws. The Any Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the such Borrower or such ERISA Affiliate without liability to any PersonPerson other than for claims arising prior to termination.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1Section.3(1) or Section 3(2)(BSection.3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after the benefit entitlement occurs prior to plan termination of employment (except as required by Title I, Part 6 of ERISA). The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each No Employee Benefit Plan Plan, ------------- -- ------- ----- which is an employee welfare benefit plan within the meaning of Section 3(1(S)3(1) or Section 3(2)(B(S)3(2)(B) of ERISA, no benefits are payable provides benefit coverage subsequent to employees (or their dependents) after termination of employment employment, (except as required by Title I, Part 6 of ERISAor the applicable state insurance laws). The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any PersonPerson other than for claims arising prior to termination.

Terminability of Welfare Plans. Under each No Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable ERISA provides benefit coverage subsequent to employees (or their dependents) after termination of employment (except as required by Title I, Part 6 of ERISA)ERISA or applicable state insurance laws. The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any PersonPerson other than for claims arising prior to termination.

Terminability of Welfare Plans. Under each Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable due unless the event giving rise to employees (or their dependents) after termination of employment the benefit entitlement occurs prior to plan termina- tion (except as required by Title I, Part 6 of ERISA). The Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate without liability to any Person.

Terminability of Welfare Plans. Under each No Employee Benefit Plan Plan, ------------------------------ which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA, no benefits are payable provides benefit coverage subsequent to employees (or their dependents) after termination of employment (employment, except as required by Title I, Part 6 of ERISA)ERISA or the applicable state insurance laws. The Each Borrower or an ERISA Affiliate, as appropriate, may terminate each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the each Borrower or such ERISA Affiliate without liability to any PersonPerson other than for claims arising prior to termination.