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Form #1381

ERISA

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ERISA

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ERISA.

[Add introductory clause as in ยง5.6506.]

(a). Any Reportable Event or a Prohibited Transaction shall occur with respect to any Plan; (b) a notice of intent to terminate a Plan under Section 4041 of ERISA shall be filed; (c) a notice shall be received by the plan administrator of a Plan that the Pension Benefit Guaranty Corporation (PBGC) has instituted proceedings to terminate a Plan or appoint a trustee to administer a Plan; (d) any other event or condition shall exist which might, in the opinion of Bank, constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan; (e) Borrower or any ERISA Affiliate shall withdraw from a Multiemployer Plan under circumstances which Bank determines could have a material adverse effect on the financial condition of Borrower; and in the case of the occurrence of any event or condition described in clauses (a) through (e) above, such event or condition may result in an aggregate amount of Borrower's liability to a Plan or a Multiemployer Plan or to the PBGC under Sections 4062, 4063, 4064, 4201, 4202 of ERISA as determined in good faith by Bank so as to materially adversely affect the financial condition or operations of Borrower as reasonably determined by Bank, and such liability of Borrower shall not be covered in full, for the benefit of Borrower, by insurance.



 
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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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