definiens: ) ; no p rohibited transaction, within the meaning of Sectio n 406 of ERISA or Section 4975 of the Code, has occurred whi ch would result in a material liability to the Comp any with respect to any such plan excluding transactions eff ected pursuant to a statutory or administrative exe mption ; and for each such plan that is subject to the funding r ules of Section 412 of the Code or Section 302 of E RISA, no as defined in Sect ion 412 of the Code has been incurred, whether or n ot waived, and the fair market value of the assets of each suc h plan ( excluding for these purposes accrued but un paid contributions ) exceeds the present value of all ben efits accrued under such plan determined using reas onable actuarial assumptions ; neither the Company nor any of its affiliates sponsors, maintains, contributes to, participates in or has any obligations to, or any liability unde r, any multiemployer plan ( as defined in Section 40 01(a)(3 ) of ERISA )