Common use of ERISA Notices and Requests Clause in Contracts

ERISA Notices and Requests. Provide Agent with prompt written notice in the event that (a) any Company knows or has reason to know that a Termination Event has occurred or is reasonably expected to occur that alone or together with any other Termination Events that have occurred, would reasonably be expected to result in liability of any Company in an aggregate amount exceeding $5,000,000, together with a written statement describing such Termination Event and the action, if any, which such Company has taken, is taking, or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service, Department of Labor or PBGC with respect thereto, (b) any Company knows or has reason to know that a non-exempt “prohibited transaction” (as defined in Section 406(a) of ERISA or Section 4975(c)(1)(A)-(D) of the Code) has occurred with respect to a Plan which would reasonably be expected to result in material liability of any Company, together with a written statement describing such transaction and the action which such Company has taken, is taking or proposes to take with respect thereto, (c) a funding waiver request has been filed with respect to any Pension Benefit Plan (other than the Pension Funding Waivers), together with all communications received by any Company with respect to such request, or (d) the establishment of any new Pension Benefit Plan by the Company or the commencement by the Company of contributions to any Pension Benefit Plan or Multiemployer Plan to which any Company or any member of the Controlled Group was not previously contributing shall occur.

ERISA Notices and Requests. Provide Agent with prompt written notice in the event that (a) any Company knows or has reason to know that a Termination Event has occurred or is reasonably expected to occur that alone or together with any other Termination Events that have occurred, would reasonably be expected to result in liability of any Company in an aggregate amount exceeding $5,000,000, together with a written statement describing such Termination Event and the action, if any, which such Company has taken, is taking, or proposes to take with respect thereto and, when known, any action taken or threatened by the Internal Revenue Service, Department of Labor or PBGC with respect thereto, (b) any Company knows or has reason to know that a non-exempt “prohibited transaction” (as defined in Section 406(a) of ERISA or Section 4975(c)(1)(A)-(D) of the Code) has occurred with respect to a Plan which would reasonably be expected to result in material liability of any Company, together with a written statement describing such transaction and the action which such Company has taken, is taking or proposes to take with respect thereto, (c) a funding waiver request has been filed with respect to any Pension Benefit Plan (other than the Pension Funding Waivers), together with all communications received by any Company with respect to such request, or (d) the establishment of any new Pension Benefit Plan by the Company or the commencement by the Company of contributions to any Pension Benefit Plan or Multiemployer Plan to which any Company or any member of the Controlled Group was not previously contributing shall occur.