Any Person institutes steps to terminate a Plan if as a result of such termination any Loan Party or any member of the Controlled Group could be required to make a contribution to such Plan, or could incur a liability or obligation to such Plan, in excess of $500,000.00; # a contribution failure occurs with respect to any Plan sufficient to give rise to a Lien under [Section 303(k)] of ERISA or 430(i) of the Code; # the Unfunded Liability exceeds twenty percent of the Total Plan Liability, or # there shall occur any withdrawal or partial withdrawal from a Multiemployer Plan and the withdrawal liability (without unaccrued interest) to Multiemployer Plans as a result of such withdrawal (including any outstanding withdrawal liability that any Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $250,000.00.
(i) institution of any steps by any Person to terminate an ERISA Plan if as a result of such termination any Credit Party or any member of the Controlled Group could be required to make a contribution to such ERISA Plan, or could incur a liability or obligation to such ERISA Plan, in excess of $5,000,000, # a contribution failure occurs with respect to any ERISA Plan sufficient to give rise to a Lien under [Section 303(k)] of ERISA or Section 430(k) of the Code or an event occurs that could reasonably be expected to give rise to a Lien under [Section 4068] of ERISA, or # there shall occur any withdrawal or partial withdrawal from a Multiemployer Plan and the withdrawal liability (without unaccrued interest) to Multiemployer Plans as a result of such withdrawal (including any outstanding withdrawal liability that any Credit Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $5,000,000;
(i) institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Credit Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $500,000, # a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under [Section 303(k)] of ERISA or Section 430(k) of the Code or an event occurs that would reasonably be expected to give rise to a Lien securing an amount on excess of $500,000 under [Section 4068] of ERISA, or # there shall occur any withdrawal or partial withdrawal from a Multiemployer Plan and the withdrawal liability (without unaccrued interest) to Multiemployer Plans as a result of such withdrawal (including any outstanding withdrawal liability that any Credit Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $500,000;
(i) institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Credit Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $2,000,000, # a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under [Section 303(k)] of ERISA or Section 430(k) of the Code or an event occurs that could reasonably be expected to give rise to a Lien under [Section 4068] of ERISA, or # there shall occur any withdrawal or partial withdrawal from a Multiemployer Plan and the withdrawal liability (without unaccrued interest) to Multiemployer Plans as a result of such withdrawal (including any outstanding withdrawal liability that any Credit Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $2,000,000;
(i) institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Credit Party or any member of the Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $500,000, # a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under [Section 303(k)] of ERISA or Section 403(k) of the Code, or # there shall occur any withdrawal or partial withdrawal from a Multiemployer Plan and the withdrawal liability (without unaccrued interest) to Multiemployer Plans as a result of such withdrawal (including any outstanding withdrawal liability that any Credit Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $500,000, or # with respect to a Canadian Pension Plan any Lien arises (except for contribution amounts not yet due) in connection with such Canadian Pension Plan which would reasonably be expected to have a Material Adverse Effect;
$500,000; # a contribution failure occurs with respect to any Pension Plan sufficient to give rise to a Lien under [Section 303(k)] of ERISA securing obligations in excess of $500,000; or # there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without un-accrued interest) to Multiemployer Pension Plans as a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $500,000.
any Loan Party or any of its ERISA Affiliates shall have made a complete or partial withdrawal from a Multiemployer Plan, and, as a result of such complete or partial withdrawal, any Loan Party or any of its ERISA Affiliates incurs a withdrawal liability in an annual amount exceeding $1,000,000; or a Multiemployer Plan enters reorganization status under [Section 4241] of ERISA, and, as a result thereof any Loan Party's or any of its ERISA Affiliates' annual contribution requirements with respect to such Multiemployer Plan increases in an annual amount exceeding $500,000; (p) any Termination Event with respect to any Employee Plan shall have occurred, and, 30 days after notice thereof shall have been given to any Loan Party by any Agent, # such Termination Event (if correctable) shall not have been corrected, and # the then current value of such Employee Plan's vested benefits exceeds the then current value of assets allocable to such benefits in such Employee Plan by more than $500,000 (or, in the case of a Termination Event involving liability under [Section 515, 4062, 4063, 4064, 4069, 4201, 4204 or 4212]2]2]2]2]2]2]2] of ERISA or Section 4971 or 4975 of the Internal Revenue Code, the liability is in excess of such amount);
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.