definiens: means : ( a ) eve nts, circumstances, changes or effects that generally affect the industries or segments thereof in which the Business operates ( including legal an d regulatory changes ) ; ( b ) general business, economic or politic al conditions ( or changes therein ) ; ( c ) events, cir cumstances, changes or effects affecting the financial, credit or securities markets in the United States or in an y other country or region in the world, including changes in intere st rates or foreign exchange rates ; and ( d ) changes or modifications in GAAP or applicable Law or the inte rpretation or enforcement thereof ; provided, that i n the cases of clauses ( a ), ( b ), ( c ) and ( d ), such events, circumstances, changes, conditions or effects sha ll be considered in determining whether there has been a only if such events, circumstances, changes, conditions or effects, indi vidually or in the aggregate, have an adverse and disproportionate impact on the Business, taken as a whole and whether viewed on a long - term, intermedi ate - term or short - term basis, relative to other Persons oper ating in the same or substantially similar industri es or segments thereof as the Business means an employee pension or w elfare benefit plan to which more than one unaffiliated employer contributes and which is main tained pursuant to one or more collective bargainin g agreements