Common use of Terminability of Welfare Plans Clause in Contracts

Terminability of Welfare Plans. To the extent applicable for the Borrower or any Subsidiary, no Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA provides benefit coverage subsequent to termination of employment except as required by Title I, Part 6 of ERISA or applicable state insurance laws. The Borrower or such Subsidiary, as the case may be, may cause the termination of 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 without liability to any Person other than for claims arising prior to termination.

Terminability of Welfare Plans. To the extent applicable for No Employee Benefit Plan of the Borrower or any Subsidiary, no Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA ERISA, provides benefit coverage subsequent to termination of employment employment, except as required by Title I, Part 6 of ERISA or the applicable state insurance lawslaws and certain retiree medical and life insurance benefits. The Borrower or such Subsidiary, as the case may be, may cause the termination of 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 without liability to any Person other than for claims arising prior to termination.

Terminability of Welfare Plans. To the extent applicable for the Borrower Borrowers or any Subsidiary, no Employee Benefit Plan which is an employee welfare benefit plan within the meaning of Section 3(1) or Section 3(2)(B) of ERISA provides benefit coverage subsequent to termination of employment except as required by Title I, Part 6 of ERISA or applicable state insurance laws. The Borrower Borrowers or such Subsidiary, as the case may be, may cause the termination of each such Plan at any time (or at any time subsequent to the expiration of any applicable bargaining agreement) in the discretion of the such Borrower without liability to any Person other than for claims arising prior to termination.