Common use of No Reportable Event Clause in Contracts

No Reportable Event. To the best of ALBARA or Albara Subsidiary's knowledge, there has been no "reportable event" (within the meaning of Section 4043(b) of ERISA with respect to a Statutory Plan) or any "prohibited transaction" (as such term is defined in Section 406 of ERISA and Section 4975(c) of the Code) with respect to any of the Employee Plans. All reporting and disclosure requirements under Title I of ERISA have been met. 3:1:19 No Undisclosed Defaults. Except as set forth in Section 3:1:19 of the Disclosure Schedule, to the best knowledge of ALBARA or Albara Subsidiary, ALBARA or Albara Subsidiary is not in material default with respect to any obligation, agreement or covenant to be performed by it under any contract or arrangement of any kind, including, without limitation, those described in Section 3:1:19 of the Disclosure Schedule, which default would have a material adverse effect on ALBARA or Albara Subsidiary.