Common use of Waiver of Minimum Funding Standard Clause in Contracts

Waiver of Minimum Funding Standard. If the plan administrator of any Plan other than Multiemployer Plan applies under Section 412(d) of the Internal Revenue Code for a waiver of the minimum funding standards of Section 412(a) of the Internal Revenue Code and the Administrative Agent reasonably believes the substantial business hardship upon which the waiver is based could subject either any Borrower or any ERISA Affiliate to a material liability.

Waiver of Minimum Funding Standard. If the plan administrator of any Plan other than Multiemployer Plan applies under Section 412(d) of the Internal Revenue Code for a waiver of the minimum funding standards of Section 412(a) of the Internal Revenue Code and the Administrative Agent reasonably believes Majority Lenders believe the substantial business hardship upon which the application for the waiver is based could reasonably be expected to subject either any Borrower member of the Group to liability individually or any ERISA Affiliate to a material liabilityin the aggregate in excess of US$30,000,000.

Waiver of Minimum Funding Standard. If the plan administrator of any Plan other than Multiemployer Plan applies under Section 412(d) of the Internal Revenue Code for a waiver of the minimum funding standards of Section 412(a) of the Internal Revenue Code and the Administrative Agent reasonably believes the substantial business hardship upon which the waiver is based could subject any Borrower, either any Borrower directly or any through an ERISA Affiliate Affiliate, to a material liability.

Waiver of Minimum Funding Standard. If the plan administrator of any Plan other than Multiemployer Plan applies under Section 412(d) of the Internal Revenue Code for a waiver of the minimum funding standards of Section 412(a) of the Internal Revenue Code and the Administrative Agent reasonably believes that the substantial business hardship upon which the application for the waiver is based could subject either any the Borrower or any ERISA Affiliate to a material liabilityliability in excess of the Threshold Amount.

Waiver of Minimum Funding Standard. If the plan administrator of any Plan other than Multiemployer Plan applies under Section 412(d) of the Internal Revenue Code for a waiver of the minimum funding standards of Section 412(a) of the Internal Revenue Code and the Administrative Agent reasonably believes that the substantial business hardship upon which the application for the waiver is based could subject either any Borrower or any ERISA Affiliate to a material liabilityliability in excess of $2,000,000.