Supercuts 2002 Annual Report Download - page 73

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or any such petition shall be filed against the Company or any Restricted Subsidiary and such petition shall not be dismissed within 60 days; or
(i) a final judgment or judgments for the payment of money aggregating at least $1,000,000 are rendered against one or more of the Company
and its Restricted Subsidiaries, which judgments are not, within 60 days after entry thereof, bonded, discharged, dismissed or stayed pending
appeal, or are not discharged within 60 days after the expiration of such stay; or
(j) if (i) any Plan shall fail to satisfy the minimum funding standards of ERISA or the Code for any plan year or part thereof or a waiver of such
standards or extension of any amortization period is sought or granted under section 412 of the Code, (ii) a notice of intent to terminate any
Plan shall have been or is reasonably expected to be filed with the PBGC or the PBGC shall have instituted proceedings under ERISA section
4042 to terminate or appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any ERISA Affiliate that a Plan
may become a subject of any such proceedings, (iii) the aggregate "amount of unfunded benefit liabilities" (within the meaning of section 4001
(a)(18) of ERISA) under all Plans determined in accordance with Title IV of ERISA, shall be at least $1,000,000, (iv) the Company or any
ERISA Affiliate shall have incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA or the penalty or excise
tax provisions of the Code relating to employee benefit plans, (v) the Company or any ERISA Affiliate withdraws from any Multiemployer
Plan, or (vi) the Company or any Subsidiary establishes or amends any employee welfare benefit plan that provides post-employment welfare
benefits in a manner that would increase the liability of the Company or any Subsidiary thereunder; and any such event or events described in
clauses (i) through (vi) above, either individually or together with any other such event or events, could reasonably be expected to have a
Material Adverse Effect; or
(k) any Subsidiary Guarantor defaults in the performance of or compliance with any term contained in the Subsidiary Guaranty, and such
default continues beyond any period of grace in respect thereof, or the Subsidiary Guaranty ceases to be in full force and effect as a result of
acts taken by the Company or any Subsidiary Guarantor, except as provided in Section 22, or is declared to be null and void in whole or in
material part by a court or other governmental or regulatory authority having jurisdiction or the validity or enforceability thereof shall be
contested by any of the Company or any Subsidiary Guarantor or any of them renounces any of the same or denies that it has any or further
liability thereunder.
As used in Section 11(j), the terms "employee benefit plan" and "employee welfare benefit plan" shall have the respective meanings assigned to
such terms in Section 3 of ERISA.
29