Common use of Pension Plan Compliance Clause in Contracts

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. 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. 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.