Common use of Deferred Compensation Payments Clause in Contracts

Deferred Compensation Payments. Pay or cause to be paid when due all amounts necessary to fund in accordance with their terms all such deferred compensation plans, whether now in existence or hereafter created, and the Borrower will not withdraw from participation in, permit the termination or partial termination of, or permit the occurrence of any other event with respect to, any deferred compensation plan maintained for the benefit of its employees under circumstances that could result in liability to the Pension Guaranty Corporation, or any of its successors or assigns, or to the entity which provides funds for such deferred compensation plan.