Borrower Pension Plan definition

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Borrower Pension Plan means a “pension plan” as such term is defined in section 3(2) of ERISA, which is subject to title IV of ERISA and to which the Borrower or any ERISA Affiliate of Borrower may have any liability, including any liability by reason of having been a substantial employer within the meaning of section 4063 of ERISA at any time during the preceding five years, or by reason of being deemed to be a contributing sponsor under section 4069 of ERISA.

Borrower Pension Plan means each Benefit Plan that is an “employee pension benefit plan” as defined in Section 3(2) of ERISA that is intended to satisfy the requirements of Section 401(a) of the Code.

Examples of Borrower Pension Plan in a sentence

Borrower shall not terminate any Borrower Pension Plan so as to result in any liability to the PBGC.
Borrower shall not terminate any Borrower Pension Plan so as to result in any liability to the Pension Benefit Guaranty Corporation.
No condition exists or event or transaction has occurred with respect to any Borrower Pension Plan which could result in the Borrower or any ERISA Affiliate of Borrower incurring any material liability, fine or penalty.
No steps have been taken to terminate any Borrower Pension Plan which could result in material liability, and no contribution failure has occurred with respect to any Borrower Pension Plan sufficient to give rise to a lien under section 302(f) of ERISA.
No proceedings to terminate any Borrower Pension Plan have been instituted under Subtitle C of Title IV of ERISA.
No fact or situation that could reasonably be expected to have a Material Adverse Effect exists with respect to any Pension Plan or Borrower Pension Plan.
To the knowledge of Borrower, no “reportable event” within the meaning of Section 4043 of ERISA and the regulations thereunder has occurred with respect to any Borrower Pension Plan (other than a Multiemployer Plan), other than a reportable event for which notice or penalty for noncompliance has been waived by regulation or otherwise.
To the knowledge of Borrower, no "reportable event" within the meaning of Section 4043 of ERISA and the regulations thereunder has occurred with respect to any Borrower Pension Plan (other than a Multiemployer Plan), other than a reportable event for which notice or penalty for noncompliance has been waived by regulation or otherwise.
Borrowers shall not permit the "present value" of vested and nonvested "accrued benefits" under any Borrower Pension Plan to exceed the "current value" of the assets of such Borrower Pension Plan allocable to such "accrued benefits".
The Internal Revenue Service ("IRS") has issued a favorable determination letter with respect to the qualification of each Borrower Pension Plan as of the Closing Date and the trust, if any, relating thereto, and, to the knowledge of Borrower, the IRS has not taken any action to revoke any such letter.

More Definitions of Borrower Pension Plan

Borrower Pension Plan. A “pension plan” as such term is defined in section 3(2) of ERISA, which is subject to title IV of ERISA (other than any “multiemployer plan” as such term is defined in section 4001(a)(3) of ERISA), and to which the Borrower or any ERISA Affiliates of the Borrower (or, with respect to Sections 4.02, 7.06 and 9.02, to which Servicers or any ERISA Affiliate of Servicers) may have any liability, including any liability by reason of having been a substantial employer within the meaning of section 4063 of ERISA at any time during the preceding five years, or by reason of being deemed to be a contributing sponsor under section 4069 of ERISA.

Borrower Pension Plan shall have the meaning set forth in Subsection 8.11.2.

Borrower Pension Plan means the High Voltage Engineering Corporation Retirement Plan, as in effect on the Closing Date.

Borrower Pension Plan means any pension plan, as defined in Section 3(2) of ERISA, other than a Pension Plan or Multiemployer Plan, which is intended to be qualified under Section 401(a) of the Internal Revenue Code and which is, or was within the past six years, maintained or contributed to by any Loan Party.

Borrower Pension Plan. A Benefit Plan subject to Title IV of ERISA or Section 412 of the Code, other than a Multiemployer Plan, which the Borrower or any ERISA Affiliate of the Borrower sponsors, maintains, or to which it makes, is making, or obligated to make contributions, or in the case of a multiple employer plan (within the meaning of Section 4064(a) of ERISA) has made contributions at any time during the immediately preceding five (5) plan years.

Borrower Pension Plan means each Borrower Benefit Plan that is an “employee pension benefit plan” as defined in Section 3(2) of ERISA that is intended to satisfy the requirements of Section 401(a) of the Code. Borrower’s Account: means Borrower’s account as set forth on Exhibit 13.29 hereto, or as otherwise specified to the Administrative Agent in writing. Borrowing Notice: shall have the meaning set forth in Section 2.3. Capital Leases: means, at any time, a lease with respect to which the lessee is required concurrently to recognize the acquisition of any asset and the incurrence of a liability in accordance with GAAP; provided that, notwithstanding any change in GAAP after the date hereof relating to leases, any lease that was accounted for by the lessee as an operating lease as 3