Common use of Plans and Benefit Arrangements Clause in Contracts

Plans and Benefit Arrangements. Each of the Loan Parties shall not engage in a Prohibited Transaction with any Plan, Benefit Arrangement or Multiemployer Plan which, alone or in conjunction with any other circumstances or set of circumstances, results in liability under ERISA, except where the liability that could reasonably be expected to result therefrom would not result in a Material Adverse Change.

Appears in 10 contracts

Sources: Revolving Credit Facility (Hovnanian Enterprises Inc), Revolving Credit Facility (Hovnanian Enterprises Inc), Revolving Credit Facility (Hovnanian Enterprises Inc)

Plans and Benefit Arrangements. Each of the Loan Parties shall not, and shall not permit any of its Subsidiaries to, engage in a Prohibited Transaction with any Plan, Benefit Arrangement or Multiemployer Plan which, alone or in conjunction with any other circumstances or set of circumstances, results would result in liability under ERISA or otherwise violate ERISA, except where the any such transaction, liability that could or violation, alone or in conjunction with any other circumstances or set of circumstances, would not reasonably be expected to result therefrom would not result in a Material Adverse ChangeEffect.

Appears in 5 contracts

Sources: Credit Agreement (Covance Inc), Credit Agreement (Covance Inc), Credit Agreement (Covance Inc)