Pension Plan Compliance. The Borrower shall not, and shall not permit any other Credit Party to:
Pension Plan Compliance. If any Credit Party establishes a Pension Plan, such Credit Party will not (a) terminate such Pension Plan in a manner, or take any other action with respect to such Pension Plan, which could reasonably be expected to have a Material Adverse Effect; (b) fail to make full payment when due of all amounts which, under the provisions of such Pension Plan, any agreement relating thereto or applicable Law, any Credit Party is required to pay as contributions thereto, except where the failure to make such payments could not reasonably be expected to have a Material Adverse Effect; (c) permit to exist any accumulated funding deficiency, whether or not waived, with respect to such Pension Plan in an amount which could reasonably be expected to cause a Material Adverse Effect; (d) contribute to or assume an obligation to contribute to any "multi-employer pension plan" as such term is defined in the Pension Benefits Act (Ontario); (e) permit the actuarial present value of the benefit liabilities (computed on an accumulated benefit obligation basis in accordance with GAAP) under all Pension Plans in the aggregate to exceed the current value of the assets of all Pension Plans in the aggregate that are allocable to such benefit liabilities, in each case only to the extent such liabilities and assets relate to benefits to be paid to employees of the Credit Parties, by an amount that could reasonably be expected to cause a Material Adverse Effect.
Pension Plan Compliance. No Credit Party will (a) terminate, or permit any Restricted Subsidiary to terminate, any Pension Plan in a manner, or take any other action with respect to any Pension Plan, which could reasonably be expected to result in any material liability of the Borrower or a Restricted Subsidiary of the Borrower, (b) fail to make, or permit any Restricted Subsidiary to fail to make, full payment when due of all amounts which, under the provisions of any Pension Plan, agreement relating thereto or Applicable Law, the Credit Party or any Restricted Subsidiary is required to pay as contributions thereto, except where the failure to make such payments could not reasonably be expected to have a Material Adverse Effect, (c) permit to exist, or allow any Restricted Subsidiary to permit to exist, any accumulated funding deficiency, whether or not waived, with respect to any Pension Plan in an amount which could reasonably be expected to cause a Material Adverse Effect, (d) contribute to or assume an obligation to contribute to, or permit any Restricted Subsidiary (other than any Restricted Subsidiary acquired as permitted pursuant to Section 5.11) to contribute to or assume an obligation to contribute to, any “multi-employer pension plan” as such term is defined in the Pension Benefits Act (Ontario), (e) acquire, or permit any Restricted Subsidiary to acquire, an interest in any Person if such Person sponsors, maintains or contributes to, or at any time in the six-year period preceding such acquisition has sponsored, maintained, or contributed to any “multi-employer pension plan” as such term is defined in the Pension Benefits Act (Ontario); provided that, the Credit Party or any Restricted Subsidiary may acquire an interest in any such Person if such Person is acquired as a Permitted Acquisition and neither the Credit Party nor any of its other Subsidiaries has any legal liability to perform such Person’s obligations or assume such Person’s liabilities, and (f) permit, or allow any Restricted Subsidiary to permit, the actuarial present value of the benefit liabilities (computed on an accumulated benefit obligation basis in accordance with GAAP) under all Pension Plans in the aggregate to exceed the current value of the assets of all Pension Plans in the aggregate that are allocable to such benefit liabilities, in each case only to the extent such liabilities and assets relate to benefits to be paid to employees of the Credit Parties, by an amount that could reasonably be ...
Pension Plan Compliance. The Borrower shall not, and shall not permit any other Obligor to:
Pension Plan Compliance. Each U.S. Borrower Group Member shall fund all defined benefit pension plans, if any, in accordance with no less than the minimum funding standards of Section 412 of the Internal Revenue Code and of Section 302 of ERISA, and discharge all other duties imposed under ERISA. The Borrower shall promptly advise the Lender of the occurrence of any reportable event or prohibited transaction as such terms are defined in ERISA with respect to any such plans. In addition, the Borrower shall inform the Lender of all proceedings, including but not limited to terminations, instituted in connection with employee benefit plans, whether instituted by a U.S. Borrower Group Member, or by any other party. The Borrower shall also inform the Lender promptly of the adoption by any U.S. Borrower Group Member of any qualified pension or profit sharing plan.
Pension Plan Compliance. The Borrower shall not:
Pension Plan Compliance. The Borrower shall, and shall cause each other Obligor to make all contributions to all Pension Plans when due pursuant to Applicable Law. Except with the prior written consent of the Required Lenders, not to be unreasonably withheld, the Borrower shall, and shall cause each Obligor to refrain from taking any action to commence, or assume an obligation to commence to sponsor, administer or contribute to any Defined Benefit Pension Plan.
Pension Plan Compliance. Prior to the consummation of a Qualified IPO, the Company shall not (i) terminate, or permit a Guarantor to terminate, any pension plan in a manner, or take any other action with respect to any pension plan, which would reasonably be expected to result in any material liability of the Company or a Guarantor, or (ii) fail to make, or permit a Guarantor to fail to make, full payment when due of all amounts which, under the provisions of any pension plan, agreement relating thereto or applicable law, the Company or a Guarantor is required to pay as contributions thereto. In addition, the Company shall promptly pay, and shall cause the Guarantors to promptly pay, not less than the minimum funding requirement from time to time established by any actuarial report with respect to any pension plan of the Company or any Guarantor.
Pension Plan Compliance. No Loan Party will (a) establish or terminate any Pension Plan or take any other action with respect to any Pension Plan, except where the establishment or termination of, or action with respect to, a Pension Plan, solely or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (b) fail to make full payment when due of all amounts which, under the provisions of any Pension Plan or Multi-Employer Plan, agreement relating thereto or applicable Laws, the Loan Party is required to pay as contributions thereto, except where the failure to make such payments could not reasonably be expected to have a Material Adverse Effect, (c) contribute to or assume an obligation to contribute to any new Multi-Employer Plan or any new Pension Plan that could reasonably be expected to result in any material liability to any Loan Party unless consented to by the Administrative Agent, or permit, or allow any Loan Party to permit, to exist a solvency or wind-up funding deficiency with respect to any Pension Plan which triggers or results in a funding obligation on the part of any Loan Party except where such funding obligation would not reasonably be expected to have a Material Adverse Effect.
Pension Plan Compliance. No Loan Party will (a) terminate or wind up any Pension Plan or take any action to do any of the foregoing, (b) except in connection with the Skate Acquisition, establish any Pension Plan or take any other action not referred to in (a) above, with respect to a Pension Plan, except where such establishment or other action, solely or in the aggregate, would not reasonably be expected to have a Material Adverse Effect, (c) fail to make full payment when due of all amounts which, under the provisions of any Pension Plan, Multi-Employer Plan or agreement relating thereto or agreement relating thereto or applicable Laws, the Loan Party is required to pay as contributions thereto, (d) except in connection with the Skate Acquisition, contribute to or assume an obligation to contribute to any new Multi-Employer Plan or any new Pension Plan that could reasonably be expected to result in any material liability to any Loan Party, unless consented to by the Administrative Agent or (e) otherwise fail to comply with any provision of any Pension Plan, except where such failure would not reasonably be expected to have a Material Adverse Effect.
