Common use of Pension Plan Termination Clause in Contracts

Pension Plan Termination. If the termination of any Pension Plan would result in the imposition of any tax under Section 4980 of the Code, then as soon as possible, but in no event less than 60 days before the due date of the tax, a certificate of the president or chief financial officer of the undersigned setting forth the estimated amount of the tax, any reversion, and the proposed use of the reversion. This subparagraph shall apply to a transaction notwithstanding a reduction or complete elimination of the tax because of the operation of either Sections 4980(d) or 420(a)(3)(A) of the Code.

Pension Plan Termination. If the termination of any Pension Plan would result in the imposition of any tax under Section 4980 of the Code, then as soon as possible, but in no event less than 60 days before the due date of the tax, a certificate of the president or chief financial officer of the undersigned Borrower setting forth the estimated amount of the tax, any reversion, and the proposed use of the reversion. This subparagraph shall apply to a transaction notwithstanding a reduction or complete elimination of the tax because of the operation of either Sections 4980(d) or 420(a)(3)(A) of the Code.