ERISA Covenant Sample Clauses

ERISA Covenant. Borrower shall furnish to Bank: (a) as soon as possible, but in no event later than thirty (30) days after Borrower knows or has reason to know that any reportable event with respect to any deferred compensation plan has occurred, a statement of the chief financial officer of Borrower setting forth the details concerning such reportable event and the action which Borrower proposes to take with respect thereto, together with a copy of the notice of such reportable event given to the Pension Benefit Guaranty Corporation, if a copy of such notice is available to Borrower; (b) promptly after the filing thereof with the United States Secretary of Labor or the Pension Benefit Guaranty Corporation, copies of each annual report with respect to each deferred compensation plan; (c) promptly after receipt thereof, a copy of any notice Borrower may receive from the Pension Benefit Guaranty Corporation or the Internal Revenue Service with respect to any deferred compensation plan; provided, however, this subsection shall not apply to notice of general application issued by the Pension Benefit Guaranty Corporation or the Internal Revenue Service; and (d) when the same is made available to participants in the deferred compensation plan, all notices and other forms of information from time to time disseminated to the participants by the administrator of the deferred compensation plan.

ERISA Covenant. OrthoPediatrics will: (a) maintain all Plans of OrthoPediatrics so that the aggregate Unfunded Liabilities of all such Plans do not exceed $25,000 determined in accordance with Financial Accounting Standards Board Statement No. 36 as in effect on the date hereof, and (b) as soon as reasonably possible after OrthoPediatrics knows or has reason to know that any Reportable Event or any Termination Event with respect to any Plan of OrthoPediatrics or an ERISA Affiliate has occurred, furnish to Lender a statement signed by a Responsible Officer of OrthoPediatrics setting forth details as to such Reportable Event or Termination Event and the action, if any, which OrthoPediatrics or the ERISA Affiliate proposes to take with respect thereto, together with a copy of any notice of such Reportable Event or Termination Event furnished to PBGC.

ERISA Covenant. (a) The General Partner shall at all times conduct the affairs of the Partnership such that the Partnership’s assets would not constitute plan assets of any Partner for purposes of the fiduciary responsibility or prohibited transaction provisions of Title I of ERISA or Section 4975 of the Code. (b) The General Partner hereby agrees that (i) on the Closing Date the General Partner shall deliver to UST an opinion of counsel (which opinion and counsel shall be reasonably satisfactory to UST) to the effect that as of the Closing Date, after giving effect to all Capital Commitments and Capital Contributions to the Partnership as of such date, the Partnership assets should not constitute “plan assets” of any “benefit plan investor” within the meaning of Section 3(42) of ERISA and the regulations promulgated thereunder and including a reasonable level of detail regarding the basis for the conclusion set forth therein, (ii) the General Partner shall deliver to UST annually, but in no event later than thirty (30) calendar days following the close of each Fiscal Year of the Partnership, an opinion of counsel (which opinion and counsel shall be reasonably satisfactory to UST) to the effect that the Partnership assets should not constitute “plan assets” of any “benefit plan investor” within the meaning of Section 3(42) of ERISA and the regulations promulgated thereunder and including a reasonable level of detail regarding the basis for the conclusion set forth therein, (iii) the General Partner shall monitor the “plan asset” status of the Partnership for purposes of Title I of ERISA and Section 4975 of the Code in accordance with Section 4.5(a) and (iv) the General Partner will promptly notify UST in the event the General Partner reasonably determines that the Partnership’s assets would reasonably be likely be deemed to be “plan asset” of any “benefit plan investor” (each within the meaning of Section 3(42) of ERISA and the regulations promulgated thereunder).

ERISA Covenant. The Borrower will, and will cause each of its ERISA Affiliates to, maintain all Employee Benefit Plans and Pension Plans in material compliance with all applicable law, including any reporting requirements, and make all contributions due under the terms of each Pension Plan and Employee Benefit Plan or as required by law.

ERISA Covenant. Withdraw from participation in, permit the termination or partial termination of, or permit the occurrence of any other event with respect to any deferred compensation plan maintained for the benefit of Borrower's employees under circumstance that could result in liability to the Pension Benefit Guaranty Corporation, or any of its successors or assigns, or to any entity which provides funds for such deferred compensation plan, or withdraw from any multi-employer plan described in Section 4001(a)(3) of the Employee Retirement Income Security Act ("ERISA") of 1974, as amended, which may cover Borrower's employees.

ERISA Covenant. If at any time any Issuer shall become such a "party in interest" (within the meaning of Section 3(14) of ERISA) or "disqualified person" (within the meaning of Section 4975(e)(2) of the Code) with respect to any Noteholder (or any employee benefit plan the assets of which are held by a Noteholder), it shall promptly notify such Noteholder thereof.

ERISA Covenant. Each Obligor will, and will cause each of its ERISA Affiliates to, maintain all Employee Benefit Plans in compliance in all material respects with all applicable law, including any reporting requirements, and make all contributions due under the terms of each Employee Benefit Plan or as required by law. As soon as possible following the date hereof (but in no event more than thirty (30) days thereafter) each Obligor contributing to a Multiemployer Plan shall request from each such Multiemployer Plan an estimate, in writing, of withdrawal liability (contingent or otherwise) under such Multiemployer Plan and shall provide a copy of such written withdrawal liability estimate to the Agent.

ERISA Covenant. Each Obligor will, and will cause each of its ERISA Affiliates to, maintain all Employee Benefit Plans in compliance in all material respects with all applicable law, including any reporting requirements, and make all contributions due under the terms of each Employee Benefit Plan or as required by law. As soon as possible following the date hereof (but in no event more than thirty (30) days thereafter) each Obligor contributing to a Multiemployer Plan shall request from each such Multiemployer Plan an estimate, in writing, of withdrawal liability (contingent or otherwise) under such Multiemployer Plan and shall provide a copy of such written withdrawal liability estimate to the Agent. In addition, within the same time period each Obligor shall request from the applicable Multiemployer Plans an estimate, in writing, of the amount of any withdrawal liability to be assessed in connection with the stock purchase transactions contemplated by the Arcon Purchase Documents and the merger contemplated by the CPG Merger Documents and shall provide a copy of such written estimate to the Agent.

ERISA Covenant. Section 9.3 is amended to read as follows: