No liability to the Pension Clause Samples

The "No liability to the Pension" clause serves to clarify that a party, typically the employer or another contractual party, is not responsible for any obligations or liabilities related to a pension scheme. In practice, this means that if the pension fund experiences a shortfall, mismanagement, or other financial issues, the party protected by this clause cannot be held accountable for making up the deficit or compensating beneficiaries. This clause is essential for limiting financial risk and ensuring that responsibility for pension matters remains clearly defined, thereby preventing unexpected liabilities from arising.
No liability to the Pension. Benefit Guaranty Corporation has been or is expected by Borrower to be incurred with respect to any employee pension benefit plan of Borrower or any of its ERISA Affiliates. There has been no reportable event (within the meaning of Section 4043(b) of ERISA) or any other event or condition with respect to any employee pension benefit plan of Borrower or any of its ERISA Affiliates which presents a risk of termination of any such plan by the Pension Benefit Guaranty Corporation.
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No liability to the Pension. Benefit Guaranty Corporation (the "PBGC") (except for routine payment of premiums) has been or is expected to be incurred with respect to any Benefit Plan that is subject to Title IV of ERISA, no reportable event within the meaning of Section 4043 of ERISA has occurred with respect to any such Benefit Plan and the PBGC has not commenced or threatened the termination of any Benefit Plan. None of the assets of CRA or any of its Subsidiaries is the subject of any Security Interest arising under Section 302(f) of ERISA or Section 412(n) of the Code, neither CRA nor any of its Subsidiaries has been required to post any security under Section 307 of ERISA or Section 401(a)(29) of the Code, and neither CRA nor any of its Subsidiaries has any knowledge of any facts which could reasonably be expected to give rise to such Security Interest or such posting of security.
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No liability to the Pension. Benefit Guaranty Corporation has been incurred with respect to any Plan (as defined below) by the Company or any of its subsidiaries which is or would be materially adverse to the Company and its subsidiaries. The execution and delivery of this Agreement and the issuance and sale of the Preferred Shares will not involve any transaction which is subject to the prohibitions of Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or in connection with which a tax could be imposed pursuant to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), provided that, if the Purchaser, or any person or entity that owns a beneficial interest in the Purchaser, is an “employee pension benefit plan” (within the meaning of Section 3(2) of ERISA) with respect to which the Company is a “party in interest” (within the meaning of Section 3(14) of ERISA), the requirements of Sections 407(d)(5) and 408(e) of ERISA, if applicable, are met. As used in this Section 2.01(w), the term “Plan” shall mean an “employee pension benefit plan” (as defined in Section 3 of ERISA) which is or has been established or maintained, or to which contributions are or have been made, by the Company or any subsidiary or by any trade or business, whether or not incorporated, which, together with the Company or any subsidiary, is under common control, as described in Section 414(b) or (c) of the Code.
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No liability to the Pension. Benefit Guaranty Corporation (other than liability for premiums in the ordinary course of the business of Borrowers) has been or is expected by a Borrower or Guarantor to be incurred with respect to any employee pension benefit plan of such Borrower, Guarantor and its Subsidiaries. Except as set forth on Schedule 6.15(b), there has been no reportable event (within the meaning of Section 4043(b) of ERISA) or any other event or condition with respect to any employee pension benefit plan of a Borrower, Guarantor or its respective Subsidiaries which presents a risk of termination of any such plan by the Pension Benefit Guaranty Corporation.
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Related to No liability to the Pension

  • No Liability Until Receipt The Custodian shall not be liable for, or considered to be the Custodian of, any money, whether or not represented by any check, draft, or other instrument for the payment of money, received by it on behalf of the Series, until the Custodian actually receives and collects such money.

  • No Liability Bank shall not be responsible or liable for any shortage or discrepancy in, damage to, or loss or destruction of, any goods, the sale or other disposition of which gives rise to an Account, or for any error, act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to collect any Account, or for settling any Account in good faith for less than the full amount thereof, nor shall Bank be deemed to be responsible for any of Borrower’s obligations under any contract or agreement giving rise to an Account. Nothing herein shall, however, relieve Bank from liability for its own gross negligence or willful misconduct.

  • No Liability of Members All debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member.

  • NO LIABILITY UPON TERMINATION If this Contract is terminated for any reason, RRC and the State of Texas shall not be liable to Vendor for any damages, claims, losses, or any other amounts arising from or related to any such termination absent an award of damages pursuant to Texas Government Code Chapter 2260.

  • Termination with Liability If (a) the Customer terminates the agreement before the end of the Initial Term for reasons other than for cause or (b) the Company terminates the agreement for cause, then the Customer will pay, within 30 days after such termination: (i) all accrued but unpaid charges incurred through the date of such termination, plus (ii) an amount equal to 25 percent of the unsatisfied MVR for each annual period (and a pro rata portion thereof for any partial annual period) remaining in the unexpired portion of the Initial Term on the date of such termination, plus (iii) a pro rata portion of any and all installation waiver credits, sign-up credits, or up-front credits provided to the Customer.