Plans Maintained Clause Samples
The "Plans Maintained" clause establishes the requirement for one or more parties to keep certain plans, such as project schedules, site layouts, or safety protocols, up to date and readily accessible throughout the duration of an agreement. In practice, this means that the responsible party must regularly review and revise these documents to reflect any changes in scope, design, or regulatory requirements, and ensure that all relevant stakeholders have access to the latest versions. This clause serves to promote effective project management and communication, reducing the risk of misunderstandings or errors caused by outdated or incomplete information.
Plans Maintained. Except as provided in Schedule 5.18(i) with respect to clause (i) below or in Schedule 5.18(ii) with respect to clauses (ii) and (iii) below, no Co-Borrower is, and no Controlled Group member is, a party to, contributes to or is currently obligated to contribute to any plans, programs, agreements, policies, commitments or other arrangements (whether or not set forth in a written document) in the following categories:
(i) Any funded employee pension benefit plan subject to Title IV of ERISA, including (without limitation) any Multiemployer Plan,
(ii) Any material retiree health care plan other than COBRA (as described in Section 5.18(g) 55 below) and any material retiree life insurance plan, and
(iii) Any material plan that is an excess benefit plan or a "top hat" plan, as defined in section 3(36) or section 301(a) (3) of ERISA, and is unfunded, as described in section 4(b) (5) or section 301(a) (3) of ERISA.
Plans Maintained. Except as provided in SCHEDULE 6.18(I) with respect to clauses (i) and (iii) below or in SCHEDULE 6.18(II) with respect to clauses (ii) and (iv) below, neither the Borrower nor any Controlled Group member is a party to, contributes to or is currently obligated to contribute to any plans, programs, agreements, policies, commitments or other arrangements (whether or not set forth in a written document) in the following categories:
(i) Any funded employee pension benefit plan subject to Title IV of ERISA, including (without limitation) any Multiemployer Plan, except as disclosed to and approved by the Majority Banks,
(ii) Any material plan, program, agreement, policy, commitment or other arrangement relating to severance or termination pay, whether or not published or generally known,
(iii) Any material retiree health care plan (as described in SECTION 6.18(G) hereof) and any material retiree life insurance plan, and
(iv) Any material plan that is an excess benefit plan or a "top hat" plan, as defined in Section 3(36) or Section 301(a) (3) of ERISA, and is unfunded, as described in Section 4(b) (5) or Section 301(a) (3) of ERISA.
Plans Maintained. Except as set forth in Schedule ---------------- 5.13 attached hereto, neither the Borrower nor, to the best knowledge of the Borrower, any ERISA Affiliate is a party to, contributes to or is obligated to contribute to any plans, programs, agreements, policies, commitments or other arrangements (whether or not set forth in a written document) in the following categories:
(i) Any employee pension benefit plan, as defined in Section 3(2) of ERISA, including (without limitation) any multiemployer plan, as defined in Section 3(37) of ERISA;
(ii) Any employee welfare plan, as defined in Section 3(1) of ERISA;
(iii) Any bonus, deferred-compensation, incentive, restricted-stock, stock purchase, stock option, stock appreciation right, phantom stock, debenture, supplemental pension, profit-sharing, commission, or similar plan or arrangement;
(iv) Any plan, program, agreement, policy, commitment or other arrangement relating to severance or termination pay, whether or not published or generally known;
(v) Any plan, program, agreement, policy, commitment or other arrangement relating to the provision of any benefit described in Section 3(1) of ERISA to former employees or their survivors;
(vi) Any plan, program, agreement, policy, commitment or other arrangement relating to loans or other extension of credit, loan guarantees, relocation assistance, educational assistance, tuition payments or similar benefits; or
(vii) Any other plan, program, agreement, policy, commitment or other arrangement relating to employee benefits, workers' compensation, executive compensation or fringe benefits, including any plan exempted from ERISA by virtue of section 4(b) thereof.