Common use of Unfunded Pension Liability Clause in Contracts

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

Appears in 37 contracts

Samples: Credit Agreement (Milacron Holdings Corp.), Credit Agreement (Milacron Holdings Corp.), Credit Agreement (Milacron Holdings Corp.)

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Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year.

Appears in 19 contracts

Samples: Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.), Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.), Loan and Security Agreement (Chicago Atlantic Real Estate Finance, Inc.)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.25%.

Appears in 6 contracts

Samples: Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Orion Energy Systems, Inc.), Loan and Security Agreement (Adara Acquisition Corp.)

Unfunded Pension Liability. the The excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the that Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

Appears in 3 contracts

Samples: Revolving Credit Agreement (Silver Bay Realty Trust Corp.), Revolving Credit Agreement (Silver Bay Realty Trust Corp.), Revolving Credit Agreement (Silver Bay Realty Trust Corp.)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unused Line Fee Percentage: 0.250%.

Appears in 3 contracts

Samples: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section Sections 412 and 430 of the Code for the applicable plan year.

Appears in 2 contracts

Samples: Loan and Security Agreement (Commercial Vehicle Group, Inc.), Loan and Security Agreement (Commercial Vehicle Group, Inc.)

Unfunded Pension Liability. the excess of the present value of a Pension Plan’s benefit liabilities under liabilities, as described in Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code as of the most recent valuation date for the applicable plan year.

Appears in 2 contracts

Samples: Loan and Security Agreement (Headwaters Inc), Loan and Security Agreement (Headwaters Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.20%.

Appears in 2 contracts

Samples: Loan and Security Agreement (Arlo Technologies, Inc.), Guaranty and Security Agreement (BIG 5 SPORTING GOODS Corp)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.375%.

Appears in 2 contracts

Samples: Loan and Security Agreement (Ak Steel Holding Corp), Loan and Security Agreement (Ak Steel Holding Corp)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code Pension Funding Rules for the applicable plan year. Unused Line Fee Rate: subject to adjustments pursuant to Section 3.11, a per annum rate equal to 0.200%.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Guess Inc), Loan, Guaranty and Security Agreement (Guess Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s 's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s 's assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year.

Appears in 2 contracts

Samples: Loan and Security Agreement (Innerworkings Inc), Loan and Security Agreement (LIVE VENTURES Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.25%.

Appears in 2 contracts

Samples: Loan and Security Agreement (Seneca Foods Corp), Loan and Security Agreement (Seneca Foods Corp)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unrestricted Cash: cash or Cash Equivalents not subject to Agent’s Lien and control under documents satisfactory to Agent. Unused Line Fee Rate: as of any date of determination, a per annum rate equal to 0.25%.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Infinera Corp)

Unfunded Pension Liability. the excess of a Pension Plan’s 's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.25%. Upstream Payment: a Distribution by a Subsidiary of Parent to an Obligor.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s 's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s 's assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year.. ​ Unused Line Fee Rate: a per annum rate equal to 0.25%. ​

Appears in 1 contract

Samples: Loan and Security Agreement (Adara Acquisition Corp.)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unused Commitments: on any date, the amount by which the Commitments exceed the sum of (a) the outstanding aggregate principal amount of all Loans plus (b) the outstanding aggregate principal amount of all LC Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Agilysys Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year; (specifically excluding SI UK from this definition).

Appears in 1 contract

Samples: Loan and Security Agreement (Summer Infant, Inc.)

Unfunded Pension Liability. the excess of a Pension Plan’s 's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s 's assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

Appears in 1 contract

Samples: Loan, Guaranty and Security Agreement (Sanmina-Sci Corp)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unrestricted Subsidiary: at any time, any Subsidiary which at such time is designated an “Unrestricted Subsidiary” pursuant to and in accordance with the Second Lien Notes Indenture.

Appears in 1 contract

Samples: Loan and Security Agreement (United Maritime Group, LLC)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code Pension Funding Rules for the applicable plan year.

Appears in 1 contract

Samples: Loan and Security Agreement (Installed Building Products, Inc.)

Unfunded Pension Liability. the excess of a Pension Plan’s 's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s 's assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.175%.

Appears in 1 contract

Samples: Loan and Security Agreement (Frozen Food Express Industries Inc)

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Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to (a) 0.375% at any time prior to the Availability Block Release Date and (b) 0.25% at any time on or after the Availability Block Release Date.

Appears in 1 contract

Samples: Guaranty and Security Agreement (ArcLight Clean Transition Corp.)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 or 430 of the Code for the applicable plan yearyear as reflected in the most recent actuarial report for such Pension Plan.

Appears in 1 contract

Samples: Loan and Security Agreement (Steinway Musical Instruments Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.250%.

Appears in 1 contract

Samples: Loan and Security Agreement (Akorn Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.375%.

Appears in 1 contract

Samples: Loan and Security Agreement (Radiant Logistics, Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. U.S. Bankruptcy Code: Title 11 of the United States Code.

Appears in 1 contract

Samples: Loan and Security Agreement (Radiant Logistics, Inc)

Unfunded Pension Liability. the The excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year.

Appears in 1 contract

Samples: Revolving Credit Construction Loan Agreement (Wci Communities Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s 's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s 's assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.25 %.

Appears in 1 contract

Samples: Loan and Security Agreement (LIVE VENTURES Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. United States: United States of America.

Appears in 1 contract

Samples: Loan and Security Agreement (Merix Corp)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan yearyear and includes any unfunded liability or solvency deficiency as determined for the purposes of the PBA in respect of any Canadian Pension Plan.. Unused Line Fee Rate: a per annum rate equal to 0.25%.

Appears in 1 contract

Samples: Loan and Security Agreement (Radiant Logistics, Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s 's benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s 's assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unused Line Fee Rate: a per annum rate equal to 0.25%.

Appears in 1 contract

Samples: Loan and Security Agreement (Seneca Foods Corp)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan yearyear and includes any unfunded liability or solvency deficiency as determined for the purposes of the PBA in respect of any Canadian Pension Plan.. Unused Line Fee Rate: a per annum rate equal to [0.375]0.25%.

Appears in 1 contract

Samples: Loan and Security Agreement (Radiant Logistics, Inc)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. Unused Line Fee: as defined in Section 3.2.1.

Appears in 1 contract

Samples: Loan and Security Agreement (Alon USA Energy, Inc.)

Unfunded Pension Liability. the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 pursuant to the Code, ERISA or the Pension Protection Act of the Code 2006 for the applicable plan year.

Appears in 1 contract

Samples: Credit Agreement (Covenant Logistics Group, Inc.)

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