Common use of Unfunded or Underfunded Liabilities Clause in Contracts

Unfunded or Underfunded Liabilities. None of the Borrower, the Trust nor any ERISA Affiliate will at any time have accruing or accrued unfunded or underfunded liabilities with respect to any Employee Benefit Plan (other than with respect to any employee welfare benefit plan within the meaning of §3(l) or §3(2)(B) of ERISA or any plan that is described in §201(2) or §201(7) of ERISA), Guaranteed Pension Plan or Multiemployer Plan, or permit any condition to exist under any Multiemployer Plan that would create a withdrawal liability. With respect to any Employee Benefit Plan that is an employee welfare benefit plan within the meaning of §3(l) or §3(2)(B) of ERISA or any plan that is described in §201(2) or §201(7) of ERISA, none of the Borrower, the Trust nor any ERISA Affiliate has any accrued liability in excess of $5,000,000 that was not incurred in the ordinary course or any accrued liability in excess of $10,000,000.

Unfunded or Underfunded Liabilities. None TheNone of the BorrowerBorrower and, the Trust nor any ERISA Affiliate will not at any time have accruing or accrued unfunded or underfunded liabilities with respect to any Employee Benefit Plan (other than with respect to any employee welfare benefit plan within the meaning of §3(l) or §3(2)(B) of ERISA or any plan that is described in §201(2) or §201(7) of ERISA), Guaranteed Pension Plan or Multiemployer Plan, or permit any condition to exist under any Multiemployer Plan that would create a withdrawal liability. With respect to any Employee Benefit Plan that is an employee welfare benefit plan within the meaning of §3(l) or §3(2)(B) of ERISA or any plan that is described in §201(2) or §201(7) of ERISA, none of the Borrower, the Trust nor any ERISA Affiliate has any accrued liability in excess of $5,000,000 that was not incurred in the ordinary course or any accrued liability in excess of $10,000,000.