Supercuts 2008 Annual Report Download - page 223

6.03 Governmental Authorization. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any
Governmental Authority is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any
Loan Party of the Agreement or any other Loan Document.
6.04 Binding Effect. Each Loan Document to which a Loan Party is a party constitutes the legal, valid and binding obligation of such
Person, enforceable against such Person in accordance with its terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, or similar laws affecting the enforcement of creditors' rights generally or by equitable principles relating to enforceability.
6.05 Litigation. There are no actions, suits, investigations, proceedings, claims or disputes pending, or to the best knowledge of the
Company, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, against the Company or its
Subsidiaries or any of their respective properties:
(a) which purport to affect or pertain to this Agreement or any other Loan Document, or any of the transactions contemplated hereby or
thereby; or
(b) as to which there exists a substantial likelihood of an adverse determination, which determination could reasonably be expected to have
a Material Adverse Effect. No injunction, writ, temporary restraining order or any order of any nature has been issued by any court or other
Governmental Authority purporting to enjoin or restrain the execution, delivery or performance of this Agreement or any other Loan Document,
or directing that the transactions provided for herein or therein not be consummated as herein or therein provided.
6.06 No Default. No Default or Event of Default exists or would result from the incurring of any Obligations by the Company. As of
the Effective Date, neither the Company nor any Subsidiary is in default under or with respect to any Contractual Obligation in any respect
which, individually or together with all such defaults, could reasonably be expected to have a Material Adverse Effect, or that would, if such
default had occurred after the Effective Date, create an Event of Default under subsection 9.01(e).
6.07 ERISA Compliance.
(a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other federal or state law.
Each Plan which is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS and to the
best knowledge of the Company, nothing has occurred which would cause the loss of such qualification. The Company and each ERISA
Affiliate has made all required contributions to any Plan subject to Section 412 of the Code, and no application for a funding waiver or an
extension of any amortization period pursuant to Section 412 of the Code has been made with respect to any Plan.
(b) There are no pending or, to the best knowledge of the Company, threatened claims, actions or lawsuits, or action by any Governmental
Authority, with respect to any Plan which has resulted or could reasonably be expected to result in a Material Adverse Effect. There has been no
prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan which has resulted or could reasonably be
expected to result in a Material Adverse Effect.
(c) (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) no Pension Plan has any Unfunded Pension Liability;
(iii) neither the Company nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability to the PBGC under Title IV of
ERISA with respect to any Pension Plan (other than premiums due and not delinquent under Section 4007 of ERISA); (iv) neither the Company
nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice
under Section 4219 of ERISA, would result in
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