ERISA Default definition

ERISA Default means (a) any of the following (i) the occurrence of a nonexempt “prohibited transaction” (within the meaning of Section 406 of ERISA or Section 4975 of the Code) with respect to any Plan to which the Company or any ERISA Affiliate is a “party in interest” (within the meaning of Section 3(14) of ERISA) or a “disqualified person” (within the meaning of Section 4975 of the Code); (ii) any failure by any Plan to satisfy the minimum funding standards (within the meaning of Sections 412 or 430 of the Code or Section 302 of ERISA) applicable to such Plan, whether or not waived; (iii) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, the failure to make by its due date a required installment under Section 430(j) of the Code with respect to any Plan or the failure by the Company or any ERISA Affiliate to make any required contribution to a Multiemployer Plan; (iv) the incurrence by the Company or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan, including but not limited to the imposition of any Lien in favor of the PBGC or any Plan; (v) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or to appoint a trustee to administer any Plan under Section 4042 of ERISA; or (vi) the incurrence by the Company or any ERISA Affiliate of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; and (b) in each case in clauses (i) through (vi), such event or condition, together with all other such events or conditions, if any, would reasonably be expected to result in a Material Adverse Effect.

ERISA Default means (a) any of the following (i) the occurrence of a nonexempt “prohibited transaction” (within the meaning of Section 406 of ERISA or Section 4975 of the Code) with respect to any Plan to which the Company or any ERISA Affiliate is a “party in interest” (within the meaning of Section 3(14) of ERISA) or a “disqualified person” (within the meaning of Section 4975 of the Code); (ii) any failure by any Plan to satisfy the minimum funding standards (within the meaning of Sections 412 or 430 of the Code or Section 302 of ERISA) applicable to such Plan, whether or not waived; (iii) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, the failure to make by its due date a required installment under Section 430(j) of the Code with respect to any Plan or the failure by the Company or any ERISA Affiliate to make any required contribution to a Multiemployer Plan; (iv) the incurrence by the Company or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan, including but not limited to the imposition of any Lien in favor of the PBGC or any Plan; (v) the receipt by the Company or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or to appoint a trustee to administer any Plan under Section 4042 of ERISA; or(vi) the incurrence by the Company or any ERISA Affiliate of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; and (b) in each case in clauses (i) through (vi), such event or condition, together with all other such events or conditions, if any, would reasonably be expected to result in a Material Adverse Effect.

ERISA Default means (a) any of the following (i) the occurrence of a nonexempt “prohibited transaction” (within the meaning of Section 406 of ERISA or Section 4975 of the Code) with respect to any Plan to which the Company or any ERISA Affiliate is a “party in interest” (within the meaning of Section 3(14) of ERISA) or a “disqualified person” (within the meaning of Section 4975 of the Code); (ii) any failure by any Plan to satisfy the minimum funding standards (within the meaning of Sections 412 or 430 of the Code or Section 302 of ERISA) applicable to such Plan, whether or not waived; (iii) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a

Examples of ERISA Default in a sentence

• EVENTS OF DEFAULT 103 Section 8.1. Payments 104 Section 8.2. Special Covenants 104 Section 8.3. Other Covenants 104 Section 8.4. Representations and Warranties 104 Section 8.5. Cross Default 104 Section 8.6. Subordinated Indenture 104 Section 8.7. ERISA Default 104 Section 8.8. Change in Control 104 Section 8.9. Judgments 104 Section 8.10.

• An OP Credit Agreement ERISA Default (each OP Credit Agreement ERISA Default being hereby incorporated herein by reference) shall occur.

• Section 7.1. Payments 72 Section 7.2. Special Covenants 72 Section 7.3. Other Covenants 72 TABLE OF CONTENTS Page Section 7.4. Representations and Warranties 72 Section 7.5. Cross Default 72 Section 7.6. ERISA Default 72 Section 7.7. Change in Control 72 Section 7.8. Money Judgment 72 Section 7.9. Validity of Loan Documents 73 Section 7.10.

• EVENTS OF DEFAULT 117 Section 8.1. Payments 117 Section 8.2. Special Covenants 117 Section 8.3. Other Covenants 118 Section 8.4. Representations and Warranties 118 Section 8.5. Cross Default 118 Section 8.6. ERISA Default 118 Section 8.7. Change in Control 118 Section 8.8. Judgments 118 Section 8.9. Security 118 Section 8.10.

• EVENTS OF DEFAULT 59 Section 7.1. Payments 59 Section 7.2. Special Covenants 59 Section 7.3. Other Covenants 59 Page Section 7.4. Representations and Warranties 59 Section 7.5. Cross Default 59 Section 7.6. ERISA Default 59 Section 7.7. Change in Control 59 Section 7.8. Money Judgment 59 Section 7.9. Material Adverse Change 60 Section 7.10.

• EVENTS OF DEFAULT 66 Section 7.1. Payments 66 Section 7.2. Special Covenants 66 Section 7.3. Other Covenants 66 Section 7.4. Representations and Warranties 66 Section 7.5. Cross Default 66 Section 7.6. ERISA Default 66 Section 7.7. Change in Control 67 Section 7.8. Money Judgment 67 Section 7.9. Validity of Loan Documents 67 Section 7.10.

• EVENTS OF DEFAULT 44 Section 7.01 Payments 44 Section 7.02 Special Covenants 44 Section 7.03 Other Covenants 44 Section 7.04 Representations and Warranties 44 Section 7.05 Cross Default 44 Section 7.06 ERISA Default 44 Table of Contents TABLE OF CONTENTS (continued) Page Section 7.07 Change in Control 44 Section 7.08 Money Judgment 44 Section 7.09 Validity of Loan Documents 45 Section 7.10 Solvency 45 ARTICLE VIII.

• EVENTS OF DEFAULT 50 Section 7.1. Payments 50 Section 7.2. Special Covenants 50 Section 7.3. Other Covenants 50 Section 7.4. Representations and Warranties 50 Section 7.5. Cross Default 50 Section 7.6. ERISA Default 50 Section 7.7. Change in Control; Determination of Taxability 50 Section 7.8. Money Judgment 50 Section 7.9. Validity of Loan Documents 50 Section 7.10.

• On ice bench staff must wear skates and a CSA approved helmet (face mask not required) and may not carry a regular hockey stick.

• Time on Industrial Accident Leave does not constitute a break in service.

More Definitions of ERISA Default

ERISA Default means (a) any of the following (i) the occurrence of a nonexempt “prohibited transaction” (within the meaning of Section 406 of ERISA or Section 4975 of the Code) with respect to any Plan to which the Borrower or any ERISA Affiliate is a “party in interest” (within the meaning of Section 3(14) of ERISA) or a “disqualified person” (within the meaning of Section 4975 of the Code); (ii) any failure by any Plan to satisfy the minimum funding standards (within the meaning of Sections 412 or 430 of the Code or Section 302 of ERISA) applicable to such Plan, whether or not waived; (iii) the filing pursuant to Section 412(c) of the Code or Section 302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan, the failure to make by [CONFIDENTIAL TREATMENT REQUESTED PURSUANT TO THE FREEDOM OF INFORMATION ACT] its due date a required installment under Section 430(j) of the Code with respect to any Plan or the failure by the Borrower or any ERISA Affiliate to make any required contribution to a Multiemployer Plan; (iv) the incurrence by the Borrower or any ERISA Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan, including but not limited to the imposition of any Lien in favor of the PBGC or any Plan; (v) the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to the intention to terminate any Plan or to appoint a trustee to administer any Plan under Section 4042 of ERISA; or (vi) the incurrence by the Borrower or any ERISA Affiliate of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; and (b) in each case in clauses (i) through (vi), such event or condition, together with all other such events or conditions, if any, would reasonably be expected to result in a Material Adverse Effect.

ERISA Default means the occurrence of any of the following events: (a) any Pension Plan maintained by the Company or any of its ERISA Affiliates shall be terminated within the meaning of Title IV of ERISA, or a trustee shall be appointed by an appropriate United States district court to administer any Pension Plan, or the PBGC shall institute proceedings to terminate any Pension Plan or to appoint a trustee to administer any Pension Plan if as of the date thereof the Company's liability or any such ERISA Affiliate's liability (after giving effect to the tax consequences thereof) to the PBGC for unfunded guaranteed vested benefits under the Pension Plans exceeds the then current value of assets accumulated in such Pension Plan by more than $50,000 (or in the case of a termination involving the Company or any of its ERISA Affiliates as a "substantial employer" (as defined in Section 4001(a)(2) of ERISA) the withdrawing employer's proportionate share of such excess shall exceed such amount); or (b) the Company or any of its ERISA Affiliates as employer under a Multiemployer Plan shall have made a complete or partial withdrawal from such Multiemployer Plan and the plan sponsor of such Multiemployer Plan shall have notified such withdrawing employer that such employer has incurred a withdrawal liability in an annual amount exceeding $50,000.

ERISA Default means the occurrence of a Reportable Event that results in material liability of Binks or any of its Subsidiaries or their ERISA Affiliates to the PBGC or to any Plan and such Reportable Event is not corrected within thirty (30) days after the occurrence thereof; or the occurrence of any Reportable Event which could constitute grounds for termination of any Plan of Binks or any of its Subsidiaries or their ERISA Affiliates by the PBGC or for the appointment by the appropriate United States District Court of a trustee to administer any such Plan and such Reportable Event is not corrected within thirty (30) days after the occurrence thereof; or Binks or any of its Subsidiaries or any of their ERISA Affiliates shall fail to pay when due any material liability to the PBGC or to a Plan; or the PBGC shall have instituted proceedings to terminate, or to cause a trustee to be appointed to administer, any Plan of Binks or any of its Subsidiaries or their ERISA Affiliates; or any Person engages in a Prohibited Transaction with respect to any Plan which results in material liability of Binks or any of its Subsidiaries, any of their ERISA Affiliates, any Plan of Binks or any of its Subsidiaries or their ERISA Affiliates or any fiduciary of any such Plan; or failure by Binks or any of its Subsidiaries or any of their ERISA Affiliates to make a required installment or other payment to any Plan within the meaning of Section 302(f) of ERISA or Section 412(n) of the Code that results in material liability of Binks or any of its Subsidiaries or any of their ERISA Affiliates to the PBGC or any Plan; or the withdrawal of Binks or any of its Subsidiaries or any of their ERISA Affiliates from a Plan during a plan year in which it was a "substantial employer" as defined in Section 4001(a)(2) of ERISA.

ERISA Default. Any member of the ERISA Group shall fail to pay when due an amount or amounts aggregating in excess of $25,000,000 (or its equivalent) which it shall have become liable to pay under Title IV of ERISA, notice of intent to terminate a Material Plan shall be filed under Title IV of ERISA by any member of the ERISA Group, any plan administrator or any combination of the foregoing, the PBGC shall institute proceedings under Title IV of ERISA to terminate, to impose liability (other than for premiums under Section 4007 of ERISA) in respect of, or to cause a trustee to be appointed to administer any Material Plan, a condition shall exist by reason of which the PBGC would be entitled to obtain a decree adjudicating that any Material Plan must be terminated, or there shall occur a complete or partial withdrawal from, or a Event of Default or Potential Event of Default, within the meaning of Section 4219(c)(5) of ERISA, with respect to, one or more Multiemployer Plans which causes one or more members of the ERISA Group to incur a current payment obligation in excess of $100,000,000 (or its equivalent) in the aggregate.