Common use of UK Pensions Clause in Contracts

UK Pensions. Except as could not reasonably be expected to have a Material Adverse Effect (a) no Loan Party, nor any of its Subsidiaries or Affiliates is, nor has it at any time been, an employer (for the purposes of sections 38 to 51 of the UK Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the UK Pension Schemes Act 1993); and (b) no Loan Party, nor any of its Subsidiaries or Affiliates is, nor has it at any time in the immediately preceding six years been, “connected” with or an “associate” of (as those terms are used in sections 38 and 43 of the UK Pensions Act 2004) such an employer.

UK Pensions. Except as could not reasonably be expected to have a Material Adverse Effect Effect, (a) no UK Loan Party, nor any of its Subsidiaries or Affiliates is, nor has it at any time been, an employer (for the purposes of sections 38 to 51 of the UK Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the UK Pension PensionsPension Schemes Act 1993); and (b) no UK Loan Party, nor any of its Subsidiaries or Affiliates is, nor has it at any time in the immediately preceding six years been, “connected” with or an “associate” of (as those terms are used in sections 38 and 43 of the UK Pensions Act 2004) such an employer.