Common use of PBGC Intervention Clause in Contracts

PBGC Intervention. In the event that at any time the Pension Benefit ----------------- Guaranty Corporation ("PBGC") or any other Governmental Authority asserts that the Distribution may provide justification for the PBGC to seek termination of the Pension Plan pursuant to ERISA section 4042 or otherwise asserts that the transaction may increase unreasonably the long-run loss to the PBGC (within the meaning of ERISA section 4042(a)(4)) with respect to the Pension Plan, IREX shall negotiate in good faith with the PBGC to resolve these issues and shall hold SPI harmless from any Liabilities related to the resolution of such issues.

PBGC Intervention. In the event that at any time the Pension Benefit ----------------- Guaranty Corporation ("PBGC") or any other Governmental Authority asserts that the Distribution may provide justification for the PBGC to seek termination of the Pension Plan pursuant to ERISA section 4042 or otherwise asserts that the transaction may increase unreasonably the long-run loss to the PBGC (within the meaning of ERISA section 4042(a)(4)) with respect to the Pension Plan, IREX shall negotiate in good faith with the PBGC to resolve these issues indemnify and shall hold SPI harmless from any Liabilities related to the resolution of such issues.