UK Pension Plans. (a) No Borrower shall permit pension schemes operated by or maintained for the benefit of the UK Loan Parties and/or any of their employees to be less than fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Xxx 0000 (UK) or take any action or omission by any company in relation to such a pension scheme which has or is reasonably likely to have a Material Adverse Effect (including the termination or commencement of winding-up proceedings of any such pension scheme or any English company ceasing to employ any member of such a pension scheme).
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Samples: Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.), Credit Agreement (Concrete Pumping Holdings, Inc.)
UK Pension Plans. (a) No UK Borrower shall permit ensure that in respect of all pension schemes operated by or maintained for the benefit of members of the UK Loan Parties Borrower and/or any of their its employees to be less than are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Xxx 0000 Act 2004 (UK) or take any and that no action or omission is taken by any company UK Borrower in relation to such a pension scheme which has or is reasonably likely to have a Material Adverse Effect (including including, without limitation, the termination or commencement of winding-up proceedings of any such pension scheme or any English company member of the Group ceasing to employ any member of such a pension scheme).
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Samples: Guaranty and Security Agreement (Turtle Beach Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp), Loan, Guaranty and Security Agreement (Parametric Sound Corp)
UK Pension Plans. (a) No Borrower shall permit pension schemes operated by or maintained for the benefit of the UK Loan Parties and/or any of their employees to be less than fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Xxx Axx 0000 (UK) or take any action or omission by any company in relation to such a pension scheme which has or is reasonably likely to have a Material Adverse Effect (including the termination or commencement of winding-up proceedings of any such pension scheme or any English company ceasing to employ any member of such a pension scheme).
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