Neither Borrower definition
Neither Borrower nor any Affiliate has an "obligation to contribute" (as defined in ERISA Section 4212) to a "multiemployer plan" (as defined in ERISA Sections 4001(a)(3) and 3(37)(A)). Each "employee pension benefit plan," as defined in Section 3(2) of ERISA, ever maintained by the Borrower or any Affiliate that was intended to qualify under Section 401(a) of the Internal Revenue Code and with respect to which any Affiliate has any liability, is disclosed as such in Schedule 3.16.
Neither Borrower nor any ERISA Affiliate has completely or partially withdrawn from any multiemployer plan and no such multiemployer plan is in reorganization, all as provided by ERISA. Borrower and each ERISA Affiliate has met its minimum funding requirements and has no unfulfilled obligations under ERISA to contribute to any Employee Benefit Plan. Borrower shall promptly notify Bank of any assertion by PBGC of liability of Borrower or any ERISA Affiliate under Title IV of ERISA. The failure of Borrower to pay within 30 days the amount of any liability under Title IV of ERISA demanded by PBGC shall constitute a default hereunder.
Neither Borrower nor any Subsidiary of Borrower shall:
Examples of Neither Borrower in a sentence
Neither Borrower nor any of its Subsidiaries is a “holding company” or an “affiliate” of a “holding company” or a “subsidiary company” of a “holding company” as each term is defined and used in the Public Utility Holding Company Act of 2005.
Neither Borrower nor any of its Subsidiaries is engaged as one of its important activities in extending credit for margin stock (under Regulations X, T and U of the Federal Reserve Board of Governors).
Neither Borrower nor any of its Subsidiaries is an “investment company” or a company “controlled” by an “investment company” under the Investment Company Act of 1940, as amended.
Neither Borrower nor any of its Subsidiaries owns any stock, shares, partnership interests or other equity securities except for Permitted Investments.
Neither Borrower nor any of its Subsidiaries shall, nor shall Borrower or any of its Subsidiaries permit any Affiliate to, directly or indirectly, knowingly enter into any documents, instruments, agreements or contracts with any Person listed on the OFAC Lists.
More Definitions of Neither Borrower
Neither Borrower nor any Subsidiary of Borrower owns any "margin stock. Neither the making of any Loan nor any use of proceeds of any such Loan will violate or conflict with the provisions of Regulation G, T, U or X of the Board of Governors of the Federal Reserve System, as amended from time to time.
Neither Borrower nor any Guarantor maintains, nor has at any time maintained, any Plan subject to the provisions of ERISA. Neither Borrower nor any Guarantor is, and at no time has been, a member of any ERISA Group with any Person that has at any time maintained any such Plan.
Neither Borrower s nor Guarantors' Obligations under this Agreement and the other Loan Documents will render Borrower or Guarantors unable to pay their respective debts as they become due.
Neither Borrower is an "investment company" or a company "controlled" by an "investment company" under the Investment Company Act. Borrowers are not engaged as one of their important activities in extending credit for margin stock (under Regulations T and U of the Federal Reserve Board of Governors). Borrowers have complied in all material respects with the Federal Fair Labor Standards Act. Borrowers have not violated any laws, ordinances or rules, the violation of which could reasonably be expected to cause a Material Adverse Change. None of Borrowers' or any Subsidiary's properties or assets has been used by Borrowers or any Subsidiary or, to the best of Borrowers' knowledge, by previous Persons, in disposing, producing, storing, treating, or transporting any hazardous substance other than legally. Each Borrower and each Subsidiary has timely filed all required tax returns and paid, or made adequate provision to pay, all material taxes, except those being contested in good faith with adequate reserves under GAAP. Each Borrower and each Subsidiary has obtained all consents, approvals and authorizations of, made all declarations or filings with, and given all notices to, all government authorities that are necessary to continue its business as currently conducted, except where the failure to do so could not reasonably be expected to cause a Material Adverse Change.
Neither Borrower has given any notice of default to any tenant under any Operating Lease which remains uncured; (iii) no tenant has any set off, claim or defense to the enforcement of any Operating Lease; (iv) no tenant is in arrears in the payment of rent, additional rent or any other charges whatsoever due under any Operating Lease, or, to the knowledge of Borrower, is materially in default in the performance of any other obligations under the applicable Operating Lease;
Neither Borrower nor ICC is in violation of any applicable statute, regulation, ordinance or any order of any court, tribunal or governmental agency, in any respect materially and adversely affecting the Collateral or their business, assets, operations, prospects or condition, financial or otherwise.
Neither Borrower s properties or assets has ever been used by such Company nor, to the best of Borrower's knowledge, by previous owners or operators in the disposal of, nor to produce, store, handle, treat, release, or transport, any Hazardous Materials, except in compliance with applicable laws or as described on Schedule 5.14, and Borrower's properties or assets have never been designated or identified in any manner pursuant to any environmental protection statute as a Hazardous Materials disposal site, or a candidate for closure pursuant to any environmental protection statute. No Lien arising under any environmental protection statute has attached to any revenues or to any real or personal property owned or operated by Borrower. Except as described on Schedule 5.14, Borrower has not received a summons, citation, notice, or directive from the Environmental Protection Agency or any other federal or state governmental agency concerning any action or omission by Borrower resulting in the releasing or disposing of Hazardous Materials into the environment.