Common use of Pension Plans Clause in Contracts

Pension Plans. (a) Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k) of ERISA securing obligations in excess of $250,000; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 7 contracts

Samples: Credit Agreement (Acer Therapeutics Inc.), Credit Agreement (Eton Pharmaceuticals, Inc.), Credit Agreement (Acer Therapeutics Inc.)

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Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party Borrower or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000100,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000the Total Plan Liability; or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000100,000.

Appears in 5 contracts

Samples: Term Loan Credit Agreement (Falconstor Software Inc), Term Loan Credit Agreement (Falconstor Software Inc), Term Loan Credit Agreement (Qumu Corp)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 4 contracts

Samples: Credit Agreement (Continental Materials Corp), Credit Agreement, Credit Agreement (Continental Materials Corp)

Pension Plans. (a) Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k) of ERISA securing obligations in excess of $250,000500,000; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 4 contracts

Samples: Credit Agreement (Biolase, Inc), Credit Agreement (Biolase, Inc), Credit Agreement (Biolase, Inc)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 4 contracts

Samples: Credit Agreement (Epiq Systems Inc), Credit Agreement (World Fuel Services Corp), Revolving Credit Agreement (Winmark Corp)

Pension Plans. (a) Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess of $250,000500,000; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that any Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 3 contracts

Samples: Credit Agreement (SWK Holdings Corp), Credit Agreement (Parnell Pharmaceuticals Holdings Pty LTD), Credit Agreement (Parnell Pharmaceuticals Holdings Pty LTD)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,0002,500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,0002,500,000.

Appears in 3 contracts

Samples: Credit Agreement (Celadon Group Inc), Credit Agreement (KapStone Paper & Packaging CORP), Credit Agreement (Ennis, Inc.)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,0005,000,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,0005,000,000.

Appears in 3 contracts

Samples: Credit Agreement (Option Care Inc/De), Credit Agreement (Proquest Co), Credit Agreement (Proquest Co)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party Borrower or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,00010,000,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,00010,000,000.

Appears in 3 contracts

Samples: Credit Agreement (Primoris Services Corp), Credit Agreement (Primoris Services Corp), Credit Agreement (Primoris Services Corp)

Pension Plans. (a) Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess of $250,000; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000...

Appears in 3 contracts

Samples: Credit Agreement (New Misonix, Inc.), Credit Agreement (Hooper Holmes Inc), Credit Agreement (Hooper Holmes Inc)

Pension Plans. (a) Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess of $250,000500,000; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 3 contracts

Samples: Credit Agreement (SWK Holdings Corp), Credit Agreement (Response Genetics Inc), Credit Agreement (Response Genetics Inc)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000100,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000100,000.

Appears in 3 contracts

Samples: Credit Agreement (Wells Mid-Horizon Value-Added Fund I LLC), Credit Agreement (MPW Industrial Services Group Inc), Credit Agreement (Meadowbrook Insurance Group Inc)

Pension Plans. (a) Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess of $250,000500,000; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued un‑accrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 2 contracts

Samples: Credit Agreement (SWK Holdings Corp), Credit Agreement (Pdi Inc)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000the Total Plan Liability; or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 2 contracts

Samples: Credit Agreement (Lecg Corp), Credit Agreement (Lecg Corp)

Pension Plans. (ai) Institution of any steps by any Borrower or any other Person to terminate a Pension Plan if as a result of such termination any Loan Party Borrower is required to or any member of the Controlled Group could reasonably be expected to be required to make a contribution to such Pension Plan, or incurs or could reasonably be expected to incur a liability or obligation to such Pension Plan, in excess of $250,000; (bii) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess of $250,000ERISA; or (ciii) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Borrowers and the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 2 contracts

Samples: Credit Agreement (Thane International Inc), Credit Agreement (Thane International Inc)

Pension Plans. (a) Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess of $250,000; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 2 contracts

Samples: Credit Agreement (Misonix Inc), Credit Agreement (SWK Holdings Corp)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party Borrower or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 1 contract

Samples: Loan and Security Agreement (Mattersight Corp)

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Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party Borrower or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000100,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds 20% of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000100,000.

Appears in 1 contract

Samples: Credit Agreement (Cyalume Technologies Holdings, Inc.)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000200,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 1 contract

Samples: Credit Agreement (Ptek Holdings Inc)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,00015,000,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,00015,000,000.

Appears in 1 contract

Samples: Credit Agreement (Multi Color Corp)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,0001,000,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,0002,500,000.

Appears in 1 contract

Samples: Credit Agreement (Kanbay International Inc)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,0003,500,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,0003,500,000.

Appears in 1 contract

Samples: Credit Agreement (Ennis, Inc.)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party Borrowers or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party Borrowers or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 1 contract

Samples: Loan and Security Agreement (Pernix Group, Inc.)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party either Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000150,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party either Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000150,000.

Appears in 1 contract

Samples: Credit Agreement (Akorn Inc)

Pension Plans. (ai) Institution of any steps by either of the Borrowers or any other Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member either of the Controlled Group could Borrowers could- be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (bii) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(ksection 302(f) of ERISA securing obligations in excess of $250,000ERISA; or (ciii) except as disclosed in Schedule 8.9(b), there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) payable annually to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member either of the Borrowers and the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 1 contract

Samples: Credit Agreement (Bogen Communications International Inc)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; 500,000 (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000500,000.

Appears in 1 contract

Samples: Credit Agreement (Westell Technologies Inc)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000the Total Plan Liability; or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.

Appears in 1 contract

Samples: Credit Agreement (Winmark Corp)

Pension Plans. (a) Institution of any Any Person institutes steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party the Company or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $250,0001,000,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under Section 303(k302(f) of ERISA securing obligations in excess ERISA; (c) the Unfunded Liability exceeds twenty percent of $250,000; the Total Plan Liability, or (cd) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued unaccrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party the Company or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,0001,000,000.

Appears in 1 contract

Samples: Credit Agreement (Fresh Brands Inc)

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