Common use of Title IV Plans Clause in Contracts

Title IV Plans. With respect to each Pension Benefit Plan which is subject to the provisions of Title IV of ERISA in which the Company (for purposes of this subsection the Company shall include each trade or business, whether or not incorporated, which is a member of a group of which the Company is a member and which is under common control within the meaning of Section 414 of the Code and the regulations thereunder) participates or has participated, (i) the Company has not withdrawn from such Pension Benefit Plan during a plan year in which it was a "substantial employer" (as defined in Section 4001(a) (2) of ERISA), (ii) the Company has not completely or partially withdrawn from a Pension Benefit Plan that is a multiemployer plan, and the liability to which the Company would become subject under ERISA if the Company were to withdraw completely from all multiemployer plans in which it currently participates is not in excess of $5,000 as of the most recent valuation date applicable thereto, (iii) the Company has not filed a notice of intent to terminate any such Pension Benefit Plan or adopted any amendment to treat such Pension Benefit Plan as terminated, (iv) the Pension Benefit Guaranty Corporation has not instituted proceedings to terminate any such Pension Benefit Plan, (v) no other event or condition has occurred that might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a Trustee to administer, any such Pension Benefit Plan, (vi) all required premium payments to the Pension Benefit Guaranty Corporation have been paid when due, and (vii) no "reportable event" (as described in Section 4043 of ERISA and the regulations thereunder) has occurred with respect to said Pension Benefit Plan.

Appears in 2 contracts

Samples: Purchase and Sale of Stock Agreement (Motors & Gears Inc), Purchase and Sale of Stock Agreement (Jordan Telecommunication Products Inc)

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Title IV Plans. With respect to each Pension Benefit Plan which that is subject to the provisions of Title IV of ERISA in which the Company Seller (for purposes of this subsection the Company shall include "Seller" includes each trade or business, whether or not incorporated, which is a member of a group of which the Company Seller is a member and which is under common control within the meaning of Section 414 of the Code and the regulations thereunder) participates or has participated, (i) the Company Seller has not withdrawn from such Pension Benefit Plan during a plan year in which it was a "substantial employer" (as defined in Section 4001(a) (2) of ERISA), (ii) the Company Seller has not completely or partially withdrawn from a Pension Benefit Plan that is a multiemployer plan, and the liability to which the Company Seller would become subject under ERISA if the Company Seller were to withdraw completely from all multiemployer plans in which it currently participates is not in excess of $5,000 2,000 as of the most recent valuation date applicable thereto, (iii) the Company Seller has not filed a notice of intent to terminate any such Pension Benefit Plan or adopted any amendment to treat such Pension Benefit Plan as terminated, (iv) the Pension Benefit Guaranty Corporation has not instituted proceedings to terminate any such Pension Benefit Plan, (v) no other event or condition has occurred that might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a Trustee to administer, any such Pension Benefit Plan, (vi) all required premium payments to the Pension Benefit Guaranty Corporation have been paid when due, and (vii) no "reportable event" (as described in Section 4043 of ERISA and the regulations thereunder) has occurred with respect to said Pension Benefit Plan.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Jordan Telecommunication Products Inc)

Title IV Plans. With respect to each Pension Benefit Plan which is subject to the provisions of Title IV of ERISA in which the Company (for purposes of this subsection the Company shall include each trade or business, whether or not incorporated, which is a member of a group of which the Company is a member and which is under common control within the meaning of Section 414 of the Code and the regulations thereunder) participates or has participated, (i) the Company has not withdrawn from such Pension Benefit Plan during a plan year in which it was a "substantial employer" (as defined in Section 4001(a) (24001(a)(2) of ERISA), (ii) the Company has not completely or partially withdrawn from a Pension Benefit Plan that is a multiemployer plan, and the liability to which the Company would become subject under ERISA if the Company were to withdraw completely from all multiemployer plans in which it currently participates is not in excess of $5,000 10,000 as of the most recent valuation date applicable thereto, (iii) the Company has not filed a notice of intent to terminate any such Pension Benefit Plan or adopted any amendment to treat such Pension Benefit Plan as terminated, (iv) the Pension Benefit Guaranty Corporation has not instituted proceedings to terminate any such Pension Benefit Plan, (v) no other event or condition has occurred that might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a Trustee to administer, any such Pension Benefit Plan, (vi) all required premium payments to the Pension Benefit Guaranty Corporation have been paid when due, and (vii) no "reportable event" (as described in Section 4043 of ERISA and the regulations thereunder) has occurred with respect to said Pension Benefit Plan.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Gfsi Inc)

Title IV Plans. With respect to each Pension -------------- Benefit Plan which is subject to the provisions of Title IV of ERISA in which the Company (for purposes of this subsection the Company shall include each trade or business, whether or not incorporated, which is a member of a group of which the Company is a member and which is under common control within the meaning of Section 414 of the Code and the regulations thereunder) participates or has participated, (i) the Company has not withdrawn from such Pension Benefit Plan during a plan year in which it was a "substantial employer" (as defined in Section 4001(a) (24001(a)(2) of ERISA), (ii) the Company has not completely or partially withdrawn from a Pension Benefit Plan that is a multiemployer plan, and the liability to which the Company would become subject under ERISA if the Company were to withdraw completely from all multiemployer plans in which it currently participates is not in excess of $5,000 10,000 as of the most recent valuation date applicable thereto, (iii) the Company has not filed a notice of intent to terminate any such Pension Benefit Plan or adopted any amendment to treat such Pension Benefit Plan as terminated, (iv) the Pension Benefit Guaranty Corporation has not instituted proceedings to terminate any such Pension Benefit Plan, (v) no other event or condition has occurred that might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a Trustee to administer, any such Pension Benefit Plan, (vi) all required premium payments to the Pension Benefit Guaranty Corporation have been paid when due, and (vii) no "reportable event" (as described in Section 4043 of ERISA and the regulations thereunder) has occurred with respect to said Pension Benefit Plan.

Appears in 1 contract

Samples: Credit Agreement (Gfsi Inc)

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Title IV Plans. With respect to each Pension Benefit Plan which is -------------- subject to the provisions of Title IV of ERISA in which the Company Companies (for purposes of this subsection the Company Companies shall include each trade or business, whether or not incorporated, which is a member of a group of which the Company is Companies are a member and which is under common control within the meaning of Section 414 of the Code and the regulations thereunder) participates participate or has have participated, (i) neither of the Company Companies has not withdrawn from such Pension Benefit Plan during a plan year in which it was a "substantial employer" (as defined in Section 4001(a) (24001(a)(2) of ERISA), (ii) neither of the Company Companies has not completely or partially withdrawn from a Pension Benefit Plan that is a multiemployer plan, and the liability to which the Company it would become subject under ERISA if the Company it were to withdraw completely from all multiemployer plans in which it currently participates is not in excess of $5,000 as of the most recent valuation date applicable thereto, (iii) neither of the Company Companies has not filed a notice of intent to terminate any such Pension Benefit Plan or adopted any amendment to treat such Pension Benefit Plan as terminated, (iv) the Pension Benefit Guaranty Corporation has not instituted proceedings to terminate any such Pension Benefit Plan, (v) no other event or condition has occurred that might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a Trustee to administer, any such Pension Benefit Plan, (vi) all required premium payments to the Pension Benefit Guaranty Corporation have been paid when due, and (vii) no "reportable event" (as described in Section 4043 of ERISA and the regulations thereunder) has occurred with respect to said Pension Benefit Plan.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Unidigital Inc)

Title IV Plans. With respect to each Pension Benefit Plan which is subject to the provisions of Title IV of ERISA in which the Company Corporation (for purposes of this subsection the Company "Seller" shall include each trade or business, whether or not incorporated, which is a member of a group of which the Company Corporation is a member and which is under common control within the meaning of Section 414 of the Code and the regulations thereunder) participates or has participated, (i) the Company Corporation has not withdrawn from such Pension Benefit Plan during a plan year in which it was a "substantial employer" (as defined in Section 4001(a) (2) of ERISA), (ii) the Company Corporation has not completely or partially withdrawn from a Pension Benefit Plan that is a multiemployer multi-employer plan, and the liability to which the Company Corporation would become subject under ERISA if the Company Corporation were to withdraw completely from all multiemployer multi-employer plans in which it currently participates is not in excess of Ten Thousand Dollars ($5,000 10,000) as of the most recent valuation date applicable thereto, (iii) the Company Corporation has not filed a notice of intent to terminate any such Pension Benefit Plan or adopted any amendment to treat such Pension Benefit Plan as terminated, (iv) the Pension Benefit Guaranty Corporation has not instituted proceedings to terminate any such Pension Benefit Plan, (v) no other event or condition has occurred that might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a Trustee to administer, any such Pension Benefit Plan, (vi) all required premium payments to the Pension Benefit Guaranty Corporation have been paid when due, and (vii) no "reportable event" (as described in Section 4043 of ERISA and the regulations thereunder) has occurred with respect to said Pension Benefit Plan.

Appears in 1 contract

Samples: Reorganization Agreement (Advanced Financial Inc)

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