Common use of Terminability of Welfare Plans Clause in Contracts

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(l) or §3(2)(B) of ERISA, the Borrower, the Trust, or any of their respective ERISA Affiliates, as the case may be, shall have the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 13 contracts

Samples: Secured Term Loan Agreement (First Potomac Realty Trust), Secured Term Loan Agreement (First Potomac Realty Trust), Term Loan Agreement (First Potomac Realty Trust)

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Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 7 contracts

Samples: Credit Agreement (Liberty Property Limited Partnership), Credit Agreement (Monmouth Real Estate Investment Corp), Credit Agreement (Liberty Property Limited Partnership)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(lss.3(1) or §3(2)(Bss.3(2)(B) of ERISA, the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 5 contracts

Samples: Revolving Credit Agreement (Amerivest Properties Inc), Credit Agreement (Liberty Property Limited Partnership), Credit Agreement (Liberty Property Limited Partnership)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the any Borrower, the Trust any Guarantor or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, the such Borrower, the Trustsuch Guarantor, or any of their respective ERISA Affiliates, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 4 contracts

Samples: Credit Agreement (Sovran Self Storage Inc), Term Loan Agreement (Sovran Self Storage Inc), Term Loan Agreement (Sovran Acquisition LTD Partnership)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust MCRC or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, the Borrower, the TrustMCRC, or any of their respective ERISA Affiliates, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without material liability other than liability to pay claims incurred prior to the date of termination.

Appears in 4 contracts

Samples: Credit Agreement (Mack Cali Realty L P), Term Loan Agreement (Mack Cali Realty L P), Credit Agreement (Mack Cali Realty L P)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the any Borrower, the Trust any Guarantor or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(lSection 3(1) or §Section 3(2)(B) of ERISA, the such Borrower, the Trustsuch Guarantor, or any of their respective ERISA Affiliates, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 4 contracts

Samples: Assignment and Assumption Agreement (Life Storage Lp), Assignment and Assumption Agreement (Sovran Self Storage Inc), Credit Agreement (Sovran Self Storage Inc)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust any Guarantor or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, the Borrower, the Trustsuch Guarantor, or any of their respective ERISA Affiliates, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without material liability other than liability to pay claims incurred prior to the date of termination.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Mack Cali Realty L P), Term Loan Agreement (Mack Cali Realty Corp), Term Loan Agreement (Mack Cali Realty L P)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(lSection 3(1) or §Section 3(2)(B) of ERISA, the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 3 contracts

Samples: Credit Agreement (Prime Group Realty Trust), Credit Agreement (Prime Group Realty Trust), Credit Agreement (Liberty Property Limited Partnership)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust any Guarantor or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(lSection 3(1) or §Section 3(2)(B) of ERISA, the Borrower, the Trustsuch Guarantor, or any of their respective ERISA Affiliates, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without material liability other than liability to pay claims incurred prior to the date of termination.

Appears in 3 contracts

Samples: Credit Agreement (Mack Cali Realty Corp), Revolving Credit Agreement (Mack Cali Realty Corp), Revolving Credit Agreement (Mack Cali Realty L P)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(lSection 3(1) or §Section 3(2)(B) of ERISA, each such plan provides that the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 2 contracts

Samples: Revolving Credit and Guaranty Agreement (Sl Green Realty Corp), Credit and Guaranty Agreement (Sl Green Realty Corp)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust any Guarantor or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, each such plan provides that the Borrower, the Trust, such Guarantor or any of their respective such ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 2 contracts

Samples: Pledge and Security Agreement (Sl Green Realty Corp), Revolving Secured Credit and Guaranty Agreement (Sl Green Realty Corp)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust BPI or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §Section 3(l) or §Section 3(2)(B) of ERISA, the Borrower, the TrustBPI, or any of their respective ERISA Affiliates, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Boston Properties Inc), Credit Agreement (Boston Properties Inc)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust any Guarantor or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(l§ 3(1) or §§ 3(2)(B) of ERISA, the each such plan provides that Borrower, the Trustany Guarantor, or any of their respective the ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 2 contracts

Samples: Credit and Guaranty Agreement (Sl Green Realty Corp), Credit and Guaranty Agreement (Sl Green Realty Corp)

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Terminability of Welfare Plans. With respect to each Except as set forth on Schedule 5.14(b), no Employee Benefit Plan maintained by the Borrower, the Trust or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(lss.3(1) or §3(2)(Bss.3(2)(B) of ERISA, the Borrowerprovides benefit coverage subsequent to termination of employment except as required by Title I, the Trust, Part 6 of ERISA or any of their respective ERISA Affiliates, as the case applicable state insurance laws. Any Borrower may be, shall have the right to terminate each such plan Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of such Borrower without liability to any Person other than liability to pay for claims incurred arising prior to the date of termination.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mastec Inc)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.. (e)

Appears in 1 contract

Samples: Loan Agreement (Liberty Property Limited Partnership)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 1 contract

Samples: Term Loan Agreement (Liberty Property Limited Partnership)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust any Guarantor or any of their respective ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(l3(1) or §3(2)(B) of ERISA, each such plan provides that the Borrower, the Trustany Guarantor, or any of their respective such ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 1 contract

Samples: Revolving Credit and Guaranty Agreement (Sl Green Realty Corp)

Terminability of Welfare Plans. With respect to each Each Employee Benefit ------------------------------ Plan maintained by the Borrower, the Trust or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(l(S)3(1) or §3(2)(B(S)3(2)(B) of ERISA, ERISA may be terminated by the Borrower, the Trust, Borrower or any of their respective an ERISA AffiliatesAffiliate, as the case may beappropriate, shall have the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the Borrower or such ERISA Affiliate, without liability other than material liability to pay claims incurred prior to the date of terminationany Person.

Appears in 1 contract

Samples: And Term Loan Agreement (Petro Stopping Centers L P)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(l(S)3(1) or §3(2)(B(S)3(2)(B) of ERISA, the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 1 contract

Samples: Credit Agreement (Prime Group Realty Trust)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust any Guarantor or any of their respective ERISA Affiliates which is an employee welfare benefit plan within the meaning of §3(lss.3(1) or §3(2)(Bss.3(2)(B) of ERISA, the Borrower, the Trustsuch Guarantor, or any of their respective ERISA Affiliates, as the case may be, shall have has the right to terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 1 contract

Samples: Revolving Credit Agreement (Beacon Properties L P)

Terminability of Welfare Plans. With respect to each Employee Benefit Plan maintained by the Borrower, the Trust Borrower or any of their respective an ERISA Affiliates Affiliate which is an employee welfare benefit plan within the meaning of §3(lSection 3(1) or §Section 3(2)(B) of ERISA, the Borrower, or the Trust, or any of their respective ERISA AffiliatesAffiliate, as the case may be, shall have has the right to tO terminate each such plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) without liability other than liability to pay claims incurred prior to the date of termination.

Appears in 1 contract

Samples: Credit Agreement (Liberty Property Limited Partnership)

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