Unfunded Pension Liabilities definition

Unfunded Pension Liabilities means the excess of a Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Plan’s assets, determined in accordance with the assumptions used by the Plan’s actuaries for funding the Plan pursuant to Section 412 of the Code for the applicable plan year.

Unfunded Pension Liabilities with respect to any Pension Plan, at any date of determination, the amount determined by taking the accumulated benefit obligation, as disclosed in accordance with Statement of Accounting Standards No. 87, "Employers' Accounting for Pensions", over the fair market value of Pension Plan assets.

Unfunded Pension Liabilities means the excess of a Plan's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Plan's assets, determined in accordance with the assumptions used by the Plan's actuaries for funding the Plan pursuant to section 412 for the applicable plan year.

Examples of Unfunded Pension Liabilities in a sentence

• All required contributions have been and will be made in accordance with the provisions of each Qualified Plan and Multiemployer Plan, and with respect to Borrower or any ERISA Affiliate, there are, have been and will be no material Unfunded Pension Liabilities or Withdrawal Liabilities.

• As of the Effective Date (i) the amount of all Unfunded Pension Liabilities under the Pension Plans, excluding any plan that is a Multiemployer Plan, does not exceed $0, and (ii) the amount of the aggregate Unrecognized Retiree Welfare Liability under all applicable Employee Benefit Plans does not exceed $100,000.

• To the extent an event or condition specified in this Section has a reasonable likelihood of having a Material Adverse Effect, (a) terminate any Plan subject to Title IV of ERISA, (b) permit to exist any ERISA Event, (c) enter into any new Plan or modify any existing Plan so as to increase its obligations thereunder except in the Ordinary Course of Business or (d) permit the existence of Unfunded Pension Liabilities.

• Except as could not reasonably be expected to result in a Material Adverse Effect, (i) no ERISA Event has occurred and no condition exists with respect to any Pension Plan or Multiemployer Plan, as applicable, and (ii) no Pension Plan has any Unfunded Pension Liabilities.

• As of the most recent valuation date for any Pension Plan, the amount of Unfunded Pension Liabilities individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans which have a negative amount of Unfunded Pension Liabilities) does not exceed $6.5 million.

More Definitions of Unfunded Pension Liabilities

Unfunded Pension Liabilities means, as of the end of any fiscal year of the Borrower, (a) a Pension Plan’s Projected Benefit Obligations minus (b) the current value of that Pension Plan’s assets, as defined in Section 3(26) of ERISA, plus Regulatory Assets.

Unfunded Pension Liabilities means the excess of a Plan's accrued benefits, as defined in Section 3(23) of ERISA, over the current value of that Plan's assets, as defined in Section 3(26) of ERISA.

Unfunded Pension Liabilities means, with respect to any Pension Plan at any time, the amount determined by taking the accumulated benefit obligation, as disclosed in accordance with Statement of Accounting Standards No. 87, over the fair market value of Pension Plan assets.

Unfunded Pension Liabilities means the amount of “unfunded benefit liabilities,” as defined in Section 4001(a)(18) of ERISA, with respect to Qualified Plans only.

Unfunded Pension Liabilities means with respect to any Plan at any time, the amount (if any) by which (a) the value of all benefit liabilities under such Plan, determined on a plan termination basis using the assumptions prescribed by the PBGC for purposes of Section 4044 of ERISA, exceeds (b) the fair market value of all Plan assets allocable to such liabilities under Title IV of ERISA (excluding any accrued but unpaid contributions), all determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the ERISA Group to the PBGC or any other Person under Title IV of ERISA.

Unfunded Pension Liabilities means the amount of unfunded benefit liabilities, as defined in Section 4001(a)(18) of ERISA, with respect to Qualified Plans only.

Unfunded Pension Liabilities has the meaning assigned to such term in Section 7.10(f).