Plans Not Maintained Sample Clauses
The "Plans Not Maintained" clause defines the consequences or procedures that apply if required plans—such as insurance, benefit, or compliance plans—are not kept in force as stipulated in the agreement. Typically, this clause outlines the obligations of a party to maintain certain plans and specifies what happens if those obligations are not met, such as triggering default, requiring notification, or allowing the other party to take corrective action. Its core practical function is to ensure that essential plans remain active throughout the contract term, thereby protecting the interests of all parties and mitigating risks associated with lapses in coverage or compliance.
Plans Not Maintained. None of the Company nor any ERISA Affiliate has ever maintained, established, sponsored, participated in, or contributed to, any (i) Pension Plan, including but not limited to, a plan which is subject to Part 3 of Subtitle B of Title I of ERISA, Title IV of ERISA or Section 412 of the Code; (ii) a “funded welfare plan” within the meaning of Section 419 of the Code; (iii) a Multiple Employer Welfare Arrangement, as defined under Section 3(40)(A) of ERISA (without regard to Section 514(b)(6)(B) of ERISA), established or maintained for the purpose of offering or providing welfare plan benefits to the employees of two or more employer (including one or more self-employed individuals), or to their beneficiaries (iv) multiemployer plan (as defined in Sections 3(37) and 4001(a)(3) of ERISA); (v) multiple employer plan or to any plan described in Section 413 of the Code; or (vi) self-insured plan that provides benefits to employees (including any such plan pursuant to which a stop-loss policy or contract applies).
Plans Not Maintained. Except as set forth on Schedule 3.21(b), none of the Target Companies maintains or contributes to (or has ever maintained, contributed to or been required to contribute to) any (a) plan or arrangement which is subject to (i) the minimum funding requirements of Code Section 412, (ii) Part 3 of Title I of ERISA, or (iii) Title IV of ERISA, (b) “multiemployer plan” (as defined in Section 3(37) of ERISA), (c) multiple employer plan, including any multiple employer welfare arrangement (as defined in Section 3(40) of ERISA), (d) voluntary employees’ beneficiary association (within the meaning of Code Section 501(c)(9)), (e) welfare benefit fund (within the meaning of Code Section 419), (f) plan or arrangement applicable to employees located outside the United States, or (g) other welfare benefit plan that provides medical or life benefits to any current or future retired or terminated employee (or any dependent thereof) of any Target Company other than as required pursuant to COBRA or applicable state Law.