Common use of UK Pension Plans Clause in Contracts

UK Pension Plans. (a) Ensure that all pension schemes operated by or maintained for it or its Subsidiaries benefit and/or any of its employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Act 2004 (UK) and that no action or omission is taken by an Obligor or a Subsidiary 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 Obligor or a Subsidiary ceasing to employ any member of such a pension scheme).

UK Pension Plans. (ae) Ensure The UK Borrower and its UK Subsidiaries shall to the extent applicable ensure that all pension schemes operated by or maintained for it or the benefit of the UK Borrower, its UK Subsidiaries benefit and/or any of its their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Act 2004 (UK) Xxx 0000 and that no action or omission is taken by an Obligor or a Subsidiary 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 Obligor or a Subsidiary ceasing to employ any member of such a pension scheme).

UK Pension Plans. (a) Ensure The US Borrower, on behalf of each Loan Party shall ensure that all pension schemes operated by or maintained for it or its Subsidiaries the benefit of the UK Loan Parties and/or any of its their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Act 2004 (UK) and Acx 0000 xnd that no action or omission is taken by an Obligor or a Subsidiary 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 Obligor or a Subsidiary English company ceasing to employ any member of such a pension scheme).

UK Pension Plans. (a) Ensure The UK Borrower and its UK Subsidiaries shall to the extent applicable ensure that all pension schemes operated by or maintained for it or the benefit of the UK Borrower, its UK Subsidiaries benefit and/or any of its their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Act 2004 (UK) Xxx 0000 and that no action or omission is taken by an Obligor or a Subsidiary 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 Obligor or a Subsidiary ceasing to employ any member of such a pension scheme).

UK Pension Plans. (a) Ensure The UK Borrower and its UK Subsidiaries shall to the extent applicable ensure that all pension schemes operated by or maintained for it or the benefit of the UK Borrower, its UK Subsidiaries benefit and/or any of its their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Act 2004 (UK) Axx 0000 and that no action or omission is taken by an Obligor or a Subsidiary 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 Obligor or a Subsidiary ceasing to employ any member of such a pension scheme).