STATUS OF THE TRUST OF WHICH SUCH PLAN IS A PART IF BORROWER OR AN
ERISA AFFILIATE FAILS TO TIMELY PROVIDE SECURITY TO THE PLAN IN ACCORDANCE WITH
THE PROVISIONS OF SAID SECTIONS; OR
(G)
THE IMPOSITION OF A LIEN OR A SECURITY INTEREST IN CONNECTION WITH
A PLAN.
(III)
NO LIABILITY UNDER TITLE IV OF ERISA HAS BEEN INCURRED BY
BORROWER, GUARANTOR OR ANY ERISA AFFILIATE THAT HAS NOT BEEN SATISFIED IN FULL,
AND NO CONDITION EXISTS THAT PRESENTS A MATERIAL RISK TO BORROWER, GUARANTOR OR
ANY ERISA AFFILIATE OF INCURRING ANY LIABILITY UNDER SUCH TITLE, OTHER THAN
LIABILITY FOR PREMIUMS DUE THE PBGC, WHICH PAYMENTS HAVE BEEN OR WILL BE MADE
WHEN DUE.
TO THE EXTENT THIS REPRESENTATION APPLIES TO SECTIONS 4064, 4069 OR
4204 OF TITLE IV OF ERISA, IT IS MADE NOT ONLY WITH RESPECT TO THE ERISA PLANS
BUT ALSO WITH RESPECT TO ANY EMPLOYEE BENEFIT PLAN, PROGRAM, AGREEMENT OR
ARRANGEMENT SUBJECT TO TITLE IV OF ERISA TO WHICH BORROWER, GUARANTOR OR ANY
ERISA AFFILIATE MADE, OR WAS REQUIRED TO MAKE, CONTRIBUTIONS DURING THE PAST SIX
YEARS.
(IV)
BORROWER SHALL NOT KNOWINGLY ENGAGE IN OR PERMIT ANY TRANSACTION
IN CONNECTION WITH WHICH BORROWER, GUARANTOR OR ANY ERISA AFFILIATE COULD BE
REASONABLY SUBJECT TO EITHER A MATERIAL CIVIL PENALTY OR MATERIAL TAX ASSESSED
PURSUANT TO SECTION 502(I) OR 502(L) OF ERISA OR SECTION 4975 OF THE CODE;
BORROWER SHALL NOT PERMIT ANY WELFARE PLAN, OTHER THAN A MULTIEMPLOYER PLAN,
TO
PROVIDE BENEFITS, INCLUDING WITHOUT LIMITATION, MEDICAL BENEFITS (WHETHER OR NOT
INSURED), WITH RESPECT TO ANY CURRENT OR FORMER EMPLOYEE OF BORROWER, GUARANTOR
OR ANY ERISA AFFILIATE BEYOND HIS OR HER RETIREMENT OR OTHER TERMINATION OF
SERVICE OTHER THAN (A) COVERAGE MANDATED BY APPLICABLE LAW, (B) DEATH OR
DISABILITY BENEFITS THAT HAVE BEEN FULLY PROVIDED FOR BY PAID UP INSURANCE OR
OTHERWISE OR (C) SEVERANCE BENEFITS, PERMIT THE ASSETS OF BORROWER OR GUARANTOR
TO BECOME "PLAN ASSETS", WHETHER BY OPERATION OF LAW OR UNDER REGULATIONS
PROMULGATED UNDER ERISA; AND BORROWER AND GUARANTOR SHALL NOT ADOPT, AMEND
(EXCEPT AS MAY BE REQUIRED BY APPLICABLE LAW) OR INCREASE THE AMOUNT OF ANY
BENEFIT OR AMOUNT PAYABLE UNDER, OR PERMIT ANY ERISA AFFILIATE TO ADOPT, AMEND
(EXCEPT AS MAY BE REQUIRED
40
BY APPLICABLE LAW) OR INCREASE THE AMOUNT OF ANY BENEFIT OR AMOUNT PAYABLE
UNDER, ANY EMPLOYEE BENEFIT PLAN (INCLUDING, WITHOUT LIMITATION, ANY EMPLOYEE
WELFARE BENEFIT PLAN THAT IS NOT A MULTIEMPLOYER PLAN) OR OTHER PLAN, POLICY OR
ARRANGEMENT, EXCEPT FOR NORMAL INCREASES IN THE ORDINARY COURSE OF BUSINESS
CONSISTENT WITH PAST PRACTICE THAT, IN THE AGGREGATE, DO NOT RESULT IN A
MATERIAL INCREASE IN BENEFITS EXPENSE TO BORROWER, GUARANTOR OR ANY ERISA
AFFILIATE.
(U)
LABOR MATTERS.
NO ORGANIZED WORK STOPPAGE OR LABOR STRIKE IS
PENDING OR THREATENED BY EMPLOYEES OR OTHER LABORERS AT THE PROPERTY AND NONE OF
BORROWER, SPE PLEDGOR NOR MANAGER (I) IS INVOLVED IN OR THREATENED WITH ANY
MATERIAL LABOR DISPUTE, GRIEVANCE OR LITIGATION RELATING TO LABOR MATTERS
INVOLVING ANY EMPLOYEES AND OTHER LABORERS