Plan Event means (a) the provision of a notice of intent to terminate any Plan under Section 4041 of ERISA, (b) the receipt of any notice by any Plan that the PBGC intends to apply for the appointment of a trustee to administer any Plan, (c) the termination of any Plan, (d) the withdrawal of the Borrower, any of its Subsidiaries or any ERISA Affiliate of any of them from any Plan described in Section 4063 of ERISA that may constitute grounds for the imposition of any liability or lien on the assets of the Borrower or any of its Subsidiaries in excess of $40,000,000, (e) the complete or partial withdrawal of the Borrower or any of its Subsidiaries or any ERISA Affiliate of any of them from any Multiemployer Plan that may constitute grounds for the imposition of any liability or lien on the assets of the Borrower or any of its Subsidiaries in excess of $40,000,000, (f) any other event or condition that would constitute grounds under Section 4042 of ERISA for the termination of or for the appointment of a trustee to administer, any Plan and (g) any other event or condition which under ERISA or the Internal Revenue Code may constitute grounds for the imposition of any liability or lien on the assets of the Borrower or any of its Subsidiaries in excess of $40,000,000 in respect of any Plan or Multiemployer Plan.
Plan Event means, with respect to any Person, (a) the imposition of an obligation of such Person or any of its ERISA Affiliates under Section 4041 of ERISA to provide any affected parties written notice of an intent to terminate a Plan in a distress termination described in Section 4041(c) of ERISA, (b) the receipt of any notice by any Plan to the effect that the PBGC intends to apply for the appointment of a trustee to administer any Plan, (c) the termination of any Plan which results in any liability of such Person and/or any of its ERISA Affiliates in excess of the Plan Liability Threshold, (d) the withdrawal of such Person or any ERISA Affiliate of such Person from any Plan described in Section 4063 of ERISA which may reasonably be expected to result in any liability of such Person and/or any of its ERISA Affiliates in excess of the Plan Liability Threshold, (e) the complete or partial withdrawal of such Person or any ERISA Affiliate of such person from any Multiemployer Plan which may reasonably be expected to result in any liability of such Person and/or any of its ERISA Affiliates in excess of the Plan Liability Threshold, (f) a Reportable Event or an event described in Section 4068(f) of ERISA which may reasonably be expected to result in any liability of such Person and/or any of its ERISA Affiliates in excess of the Plan Liability Threshold, and (g) any other event or condition which under ERISA or the Code may reasonably be expected to constitute grounds for the imposition of a lien on the property of such Person in respect of any Plan or Multiemployer Plan.
Plan Event means (a) (i) the occurrence of a reportable event, within the meaning of Section 4043 of ERISA, with respect to any Plan unless the 30-day notice requirement with respect to such event has been waived by the PBGC, or (ii) the requirements of subsection (1) of Section 4043(b) of ERISA (without regard to subsection (2) of such Section) are met with respect to a contributing sponsor, as defined in Section 4001(a)(13) or ERISA, of a Plan, and an event described in paragraph (9), (10), (11), (12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such Plan within the following 30 days; (b) the application for a minimum funding waiver with respect to a Plan; (c) the provision by the administrator of any Plan of a notice of intent to terminate such Plan, pursuant to Section 4041(a)(2) of ERISA (including any such notice with respect to a plan amendment referred to in Section 4041(3) of ERISA); (d) the cessation of operations at a facility of any Originator or any ERISA Affiliate in the circumstances described in Section 4062(e) of ERISA; (e) the withdrawal by any Originator or any ERISA Affiliate from a Multiple Employer Plan during a plan year for which it was a substantial employer, as defined in Section 4001(a)(2) of ERISA; (f) the conditions for imposition of a lien under Section 302(f) of ERISA shall have been met with respect to any Plan; (g) the adopting of an amendment to a Plan requiring the provision of security to such Plan pursuant to Section 307 of ERISA; or (h) the institution by the PBGC of proceedings to terminate a Plan pursuant to Section 4042 of ERISA, or the occurrence of any event or condition described in Section 4042 of ERISA that constitutes grounds for the termination of, or the appointment of a trustee to administer, such Plan.
Examples of Plan Event in a sentence
No Plan Event has occurred or is reasonably expected to occur that might result, directly or indirectly, in any lien being imposed on the property of the Servicer which could result in a Material Adverse Effect.
More Definitions of Plan Event
Plan Event means (a) the provisions of a notice of intent to terminate any Plan under Section 4041 of ERISA other than in a "standard termination", or the treatment of a Plan amendment as a distress termination under Section 4041 of ERISA, (b) the receipt of any notice by any Plan to the effect that the PBGC intends to apply for the appointment of a trustee to administer any Plan, (c) the termination of any Plan which may result in a material liability to the Debtor, (d) the withdrawal of the Debtor or any ERISA Affiliate of the Debtor from any Plan described in Section 4063 of ERISA which may result in a material liability of the Debtor, (e) the complete or partial withdrawal of the Debtor or any ERISA Affiliate of the Debtor from any Multiemployer Plan which may result in a material liability of the Debtor, (f) a "reportable event" described in Section 4043 of ERISA (other than a "reportable event" not subject to the provision for 30-day notice to the PBGC) or an event described in Section 4068(f) of ERISA which may result in a material liability of the Debtor, and (g) any other event or condition which under ERISA or the Code may constitute grounds for the imposition of a lien on the assets of the Debtor in respect of any Plan or Multiemployer Plan which is not corrected within 30 days.
Plan Event means a “reportable event”, as defined in Section 4043(b) of ERISA and the regulations issued under such Section, other than any such event with respect to which the 30-day notice requirement has been waived by the PBGC, and any Termination Event.
Plan Event means the filing of a notice of intent to terminate any Plan under Section 4041 of ERISA, the receipt of any notice by any Plan that the PBGC intends to apply for the appointment of a trustee to administer such Plan, the termination of any Plan, the complete or partial withdrawal of any Person from any Plan if such withdrawal could result in liability of the Borrower or any ERISA Affiliate to the PBGC or to such Plan, a "reportable event," as defined in Section 4043(b) of ERISA, with respect to any Plan and any other event or condition that would constitute grounds under Section 4042 of ERISA for the termination of, or for the appointment of a trustee to administer, any Plan.
Plan Event means (i) the provision of a notice of intent to terminate any Plan under Section 4041 of ERISA, (ii) the receipt of any notice by any Plan that the PBGC intends to apply for the appointment of a trustee to administer any Plan, (iii) the termination of any Plan, (iv) the withdrawal of the Borrower, any of its Subsidiaries or any ERISA Affiliate of any of them from any Plan described in Section 4063 of ERISA that may constitute grounds for the imposition of any liability or lien on the assets of the Borrower or any of its Subsidiaries in excess of $100,000,000, (v) the complete or partial withdrawal of the Borrower or any of its Subsidiaries or any ERISA Affiliate of any of them from any Multiemployer Plan that may constitute grounds for the imposition of any liability or lien on the assets of the Borrower or any of its Subsidiaries in excess of $100,000,000, (vi) any other event or condition that would constitute grounds under Section 4042 of ERISA for the termination of or for the appointment of a trustee to administer, any Plan and (vii) any other event or condition which under ERISA or the Internal Revenue Code may constitute grounds for the imposition of any liability or lien on the assets of the Borrower or any of its Subsidiaries in excess of $100,000,000 in respect of any Plan or Multiemployer Plan.
Plan Event means the occurrence of any of the following: (i) a notice of intent to terminate a Pension Plan has been filed; (ii) a Pension Plan termination under Section 4041(f) of ERISA; (iii) the Pension Benefit Guaranty Corporation institutes proceedings to terminate, or appoint a trustee to administer any Pension Plan; or (iv) the occurrence of an event or existence of any condition that might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, a Pension Plan. "Pool Balance" means, as of any date of determination, the sum of the Adjusted Principal Balances of all Receivables as of such date. "Posted Collateral" has the meaning given to such term in Section 6.03(b). "Prime Rate" means the rate of interest last quoted by The Wall Street Journal as the "Prime Rate" in the U.S. or, if The Wall Street Journal ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15 (519) (Selected Interest Rates) as the "bank prime loan" rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by the Administrative Agent) or any similar release by the Federal Reserve Board (as determined by the Administrative Agent). Each change in the Prime Rate shall be effective from and including the date such change is publicly announced or quoted as being effective. "Prime Receivable" means a Receivable for which, at the time of underwriting, the related FICO Score was 680 or greater. "Prime Serviced Portfolio Receivable" means a Serviced Portfolio Receivable for which, at the time of underwriting, the related FICO Score was 680 or greater. "Principal Amount" means, with respect to any Loan, the aggregate amount advanced by the Lenders on the Funding Date in respect of such Loan.
Plan Event means (a) the provision of a notice of intent to terminate any Plan under Section 4041 of ERISA, (b) the receipt of any notice by any Plan that the PBGC intends to apply for the appointment of a trustee to administer any Plan, (c) the termination of any Plan, (d) the withdrawal of the Borrower, any of its Subsidiaries or any ERISA Affiliate of any of them from any Plan described in Section 4063 of ERISA that
Plan Event is reasonably expected to occur, with respect to any Company Employee Plan.