Common use of ERISA Plans and Liabilities Clause in Contracts

ERISA Plans and Liabilities. All currently existing ERISA Plans, if any, are listed in Section 5.11 of the Disclosure Schedule. Except as disclosed in the Initial Pro Forma Financial Statements or in Section 5.11 of the Disclosure Schedule, no Termination Event has occurred with respect to any ERISA Plan and all ERISA Affiliates are in compliance with ERISA in all material respects. No ERISA Affiliate is required to contribute to, or has any other absolute or contingent liability in respect of, any “multiemployer plan” as defined in Section 4001 of ERISA. Except as set forth in Section 5.11 of the Disclosure Schedule: (a) no “accumulated funding deficiency” (as defined in Section 412(a) of the Internal Revenue Code) exists with respect to any ERISA Plan, whether or not waived by the Secretary of the Treasury or his delegate, and (b) the current value of each ERISA Plan’s benefits does not exceed the current value of such ERISA Plan’s assets available for the payment of such benefits by more than $500,000.

Appears in 2 contracts

Samples: Note Purchase Agreement (Rio Vista Energy Partners Lp), Note Purchase Agreement (Penn Octane Corp)

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ERISA Plans and Liabilities. All currently existing ERISA Plans, if any, Plans are listed in Section 5.11 of the Disclosure Schedule. Except as disclosed in the Initial Pro Forma Financial Statements or in Section 5.11 of the Disclosure Schedule, no Termination Event has occurred with respect to any ERISA Plan and all ERISA Affiliates are in compliance with ERISA in all material respects. No ERISA Affiliate is required to contribute to, or has any other absolute or contingent liability in respect of, any “multiemployer plan” as defined in Section 4001 of ERISA. Except as set forth in Section 5.11 of the Disclosure Schedule: (ai) no “accumulated funding deficiency” (as defined in Section 412(a) of the Internal Revenue CodeCode of 1986, as amended) exists with respect to any ERISA Plan, whether or not waived by the Secretary of the Treasury or his delegate, and (bii) the current value of each ERISA Plan’s benefits does not exceed the current value of such ERISA Plan’s assets available for the payment of such benefits by more than $500,000.

Appears in 1 contract

Samples: Credit Agreement (Windstar Energy, LLC)

ERISA Plans and Liabilities. All currently existing ERISA Plans, if any, Plans are listed in Section 5.11 of the Disclosure ScheduleSchedule or a Disclosure Report. Except as disclosed in the Initial Pro Forma Financial Statements or in Section 5.11 of the Disclosure ScheduleSchedule or a Disclosure Report, no Termination Event has occurred with respect to any ERISA Plan and all ERISA Affiliates are in compliance with ERISA in all material respects. No ERISA Affiliate is required to contribute to, or has any other absolute or contingent liability in respect of, any "multiemployer plan" as defined in Section 4001 of ERISA. Except as set forth in Section 5.11 of the Disclosure Schedule: (a) Schedule or a Disclosure Report no "accumulated funding deficiency" (as defined in Section 412(a) of the Internal Revenue Code) exists with respect to any ERISA Plan, whether or not waived by the Secretary of the Treasury or his delegate, and (b) the current value of each ERISA Plan’s 's benefits does not exceed the current value of such ERISA Plan’s 's assets available for the payment of such benefits by more than $500,000benefits. (b) (c) Section 5.

Appears in 1 contract

Samples: Credit Agreement (Midcoast Energy Resources Inc)

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ERISA Plans and Liabilities. All currently existing ERISA Plans, if any, Plans are listed in Section 5.11 5.10 of the Disclosure Schedule. Except as disclosed in the Initial Pro Forma Financial Statements or in Section 5.11 5.10 of the Disclosure Schedule, no Termination Event has occurred with respect to any ERISA Plan during the past five years and all ERISA Affiliates are in compliance with ERISA in all material respects. No ERISA Affiliate is required to contribute to, or has any other absolute or contingent liability in respect of, any “multiemployer plan” as defined in Section 4001 of ERISA. Except as set forth in Section 5.11 5.10 of the Disclosure Schedule: (a) no “accumulated funding deficiency” (as defined in Section 412(a) of the Internal Revenue Code) exists with respect to any ERISA Plan, whether or not waived by the Secretary of the Treasury or his delegate, and (b) the current value of each ERISA Plan’s benefits does not exceed the current value of such ERISA Plan’s assets available for the payment of such benefits by more than $500,000the Threshold Amount.

Appears in 1 contract

Samples: Credit Agreement (Energy Partners LTD)

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