Taxes; Pensions. Timely file (taking into account all applicable extension periods), and require each of its Subsidiaries to timely file (taking into account all applicable extension periods), all required tax returns and reports and timely pay (taking into account all applicable extension periods), and require each of its Subsidiaries to timely pay (taking into account all applicable extension periods), all foreign, federal, state and local taxes, assessments, deposits and contributions owed by Co-Borrower and each of its Subsidiaries, except for deferred payment of any taxes contested pursuant to the terms of Section 5.9 hereof, and shall deliver to Bank, on demand, appropriate certificates attesting to such payments, and pay all amounts necessary to fund all present pension, profit sharing and deferred compensation plans in accordance with their terms.

“Pensions Regulator” means the body corporate called the Pensions Regulator established under Part I of the Pensions Act 2004.

"Financial Support Direction" means a financial support direction issued by the Pensions Regulator under section 43 of the Pensions Act 2004.

"Contribution Notice" means a contribution notice issued by the Pensions Regulator under [section 38] or section 47 of the Pensions Act 2004.

Neither it nor any of its Subsidiaries is or has at any time been an employer (for the purposes of Sections 38 to 51 of the Pensions Act 2004) of an occupational pension scheme which is not a money purchase scheme (both terms as defined in the Pensions Schemes Act 1993).

The Employee is entitled to receive provision for pensions according to the following schedule:

Joint Election under s431 ITEPA 2003 for full or partial disapplication of Chapter 2 Income Tax (Earnings and Pensions) Act 2003

The Borrower shall immediately notify the Facility Agent if it receives a Financial Support Direction or a Contribution Notice from the Pensions Regulator.

This joint election is made pursuant to [section 431(1) or 431(2)])] Income Tax (Earnings and Pensions) Act 2003 (ITEPA) and applies where employment-related securities, which are restricted securities by reason of [section 423] ITEPA, are acquired.

Payment of Supplementary Pensions attributable to disability as provided for in Section IV(b) shall commence on the first day of the month after the Employee's Separation from Service; provided, however, that the Employee shall forfeit any payments attributable to months prior to the