Common use of UK Pension Plans Clause in Contracts

UK Pension Plans. (a) The US Borrower, on behalf of each Loan Party shall ensure that all pension schemes operated by or maintained for the benefit of the UK Loan Parties and/or any of their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Acx 0000 xnd that no action or omission is taken 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). (b) The US Borrower, on behalf of each Loan Party shall ensure that no UK Loan Party is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993) or “connected” with or an “associate” of (as those terms are defined in sections 38 or 43 of the Pensions Act 2004) such an employer. (c) Each Loan Party shall deliver to the Agent: (i) at such times as those reports are prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant schemes or to the UK Loan Party); and (ii) at any other time if the Agent reasonably believes that any relevant statutory or auditing requirements are not being complied with, actuarial reports in relation to all pension schemes mentioned in (a) above. (d) Each Loan Party shall promptly notify the Agent of any material change in the rate of contributions to any pension scheme mentioned in (a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise).

UK Pension Plans. (a) The US Borrower, on behalf of each Loan Party shall ensure Ensure that all pension schemes operated by or maintained for the it or its Subsidiaries benefit of the UK Loan Parties and/or any of their its employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Acx 0000 xnd Act 2004 (UK) and that no action or omission is taken by any company 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 English company Obligor or a Subsidiary ceasing to employ any member of such a pension scheme). (b) The US Borrower, on behalf of each Loan Party shall ensure Ensure that no UK Loan Party neither it nor any Subsidiary is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004Xxx 0000 (UK)) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993Xxxxxxx Xxxxxxx Xxx 0000 (UK)) or “connected” with or an “associate” of (as those terms are defined used in sections 38 or 43 of the Pensions Act 20042004 (UK)) such an employer. (c) Each Loan Party shall deliver Deliver to the Agent: Agent (i) at such times time as those reports are prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant schemes or to an Obligor or the UK Loan PartySubsidiaries); and (ii) at any other time if the Agent reasonably believes that any relevant statutory or auditing requirements are not being complied with, actuarial reports in relation to all pension schemes mentioned in paragraph (a) above. (d) Each Loan Party shall promptly Promptly notify the Agent of any material change in the rate of contributions to any pension scheme schemes mentioned in (a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise).

UK Pension Plans. (a) The US Borrower, on behalf of each Loan Party shall ensure Ensure that all pension schemes operated by or maintained for the it or its Subsidiaries benefit of the UK Loan Parties and/or any of their its employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Acx 0000 xnd Act 2004 (UK) and that no action or omission is taken by any company 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 English company Obligor or a Subsidiary ceasing to employ any member of such a pension scheme). (b) The US Borrower, on behalf of each Loan Party shall ensure Ensure that no UK Loan Party neither it nor any Subsidiary is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004Xxx 0000 (UK)) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993Xxxxxxx Xxxxxxx Xxx 0000 (UK)) or “"connected” " with or an “"associate” " of (as those terms are defined used in sections 38 or 43 of the Pensions Act 20042004 (UK)) such an employer. (c) Each Loan Party shall deliver Deliver to the Agent: Agent (i) at such times time as those reports are prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant schemes or to an Obligor or the UK Loan PartySubsidiaries); and (ii) at any other time if the Agent reasonably believes that any relevant statutory or auditing requirements are not being complied with, actuarial reports in relation to all pension schemes mentioned in paragraph (a) above. (d) Each Loan Party shall promptly Promptly notify the Agent of any material change in the rate of contributions to any pension scheme schemes mentioned in (a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise).

UK Pension Plans. (a) The US Borrower, on behalf of each Loan Party UK Borrower and its UK Subsidiaries shall to the extent applicable ensure that all pension schemes operated by or maintained for the benefit of the UK Loan Parties Borrower, its UK Subsidiaries and/or any of their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Acx Axx 0000 xnd and that no action or omission is taken 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).. DB1/ 126870242.8 (b) The US Borrower, on behalf of each Loan Party UK Borrower shall ensure that no none of its UK Loan Party Subsidiaries is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993) or “connected” with or an “associate” of (as those terms are defined in sections 38 or 43 of the Pensions Act 2004) such an employer. (c) Each Loan Party The UK Borrower shall deliver to the AgentAgent to the extent applicable: (i) the usual scheme report and accounts at such times as those reports are the same is prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant schemes or to the UK Loan PartyBorrower or any of its UK Subsidiaries); and (ii) at any other time if the Agent reasonably believes that any relevant statutory or auditing requirements are not being complied with, actuarial reports in relation to all pension schemes mentioned in (a) above. (d) Each Loan Party The UK Borrower shall promptly notify the Agent of any material change in the rate of contributions to any pension scheme mentioned in (a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise).

UK Pension Plans. (a) The US Borrower, on behalf of each Each UK Loan Party shall to the extent applicable ensure that all pension schemes operated by or maintained for the benefit of the UK Loan Parties and/or any of their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Acx Xxx 0000 xnd and that no action or omission is taken 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 in the case of any multi-employee defined benefit schemes any English company ceasing to employ any member of such a pension scheme). (b) The US Borrower, on behalf of each Each UK Loan Party shall ensure that no UK Loan Party is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993) or “connected” with or an “associate” of (as those terms are defined in sections 38 or 43 of the Pensions Act 2004) such an employer. (c) Each UK Loan Party shall deliver to the AgentAgent to the extent applicable: (i) the usual scheme report and accounts at such times as those reports are the same is prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant defined benefit schemes or to the UK Loan Party); and (ii) at any other time if the Agent reasonably believes that any relevant statutory or auditing requirements are not being complied with, actuarial reports in relation to all pension schemes mentioned in (a) above. (d) Each UK Loan Party shall promptly notify the Agent of any material change in the rate of contributions to any pension scheme mentioned in (a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise).

UK Pension Plans. (a) The US Borrower, on behalf of each Each UK Loan Party shall to the extent applicable ensure that all defined benefit pension schemes operated by or maintained for the benefit of the UK Loan Parties and/or any of their employees are fully funded based on the statutory funding objective under sections 221 and 222 of the Pensions Acx Xxx 0000 xnd and that no action or omission is taken 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 in the case of any multi-employee defined benefit schemes any English company ceasing to employ any member of such a pension scheme). (b) The US Borrower, on behalf of each Each UK Loan Party shall ensure that no UK Loan Party is or has been at any time an employer (for the purposes of sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pension Schemes Act 1993) or “connected” with or an “associate” of (as those terms are defined in sections 38 or 43 of the Pensions Act 2004) such an employer. (c) Each UK Loan Party shall deliver to the AgentAgent to the extent applicable: (i) the usual scheme report and accounts at such times as those reports are the same is prepared in order to comply with the then current statutory or auditing requirements (as applicable either to the trustees of any relevant defined benefit schemes or to the UK Loan Party); and (ii) at any other time if the Agent reasonably believes that any relevant statutory or auditing requirements are not being complied with, actuarial reports in relation to all pension schemes mentioned in (a) above. (d) Each UK Loan Party shall promptly notify the Agent of any material change in the rate of contributions to any pension scheme mentioned in (a) above paid or recommended to be paid (whether by the scheme actuary or otherwise) or required (by law or otherwise).