Common use of Waiver of Minimum Funding Standard Clause in Contracts

Waiver of Minimum Funding Standard. If the plan administrator of any 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 believes that the substantial business hardship upon which the application for the waiver is based could subject Borrower or any ERISA Affiliate to liability in excess of $2,000,000.

Waiver of Minimum Funding Standard. If the plan administrator of any 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 believes that the substantial business hardship upon which the application for the waiver is based could subject Borrower either Holdings, the Company or any ERISA Affiliate to liability in excess of $2,000,000a 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 Borrower or any ERISA Affiliate to liability in excess of $2,000,000a 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 Borrower any Borrower, either directly or any through an ERISA Affiliate Affiliate, to liability in excess of $2,000,000a material liability.