Coach 2006 Annual Report Download - page 103

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7.14.4 Multiemployer Plans. Except as could not, individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect, neither the Borrower nor any ERISA Affiliate has incurred any liability (including secondary liability) to any
Multiemployer Plan as a result of a complete or partial withdrawal from such Multiemployer Plan under Section 4201 of ERISA or as a
result of a sale of assets described in Section 4204 of ERISA. After due inquiry, the Borrower is not aware that any Multiemployer Plan is
in reorganization or insolvent under and within the meaning of Section 4241 or Section 4245 of ERISA or is at risk of entering
reorganization or becoming insolvent, or that any Multiemployer Plan intends to terminate or has been terminated under Section 4041A of
ERISA.
7.15 Use of Proceeds.
7.15.1 General. The proceeds of the Loans shall be used for working capital, stock repurchases and dividends permitted by
Section 9.4 and general corporate purposes. The Borrower will obtain Letters of Credit solely for general corporate purposes.
7.15.2 Regulations U and X. No portion of any Loan is to be used, and no portion of any Letter of Credit is to be obtained, for
the purpose of purchasing or carrying any “margin security” or “margin stock” as such terms are used in Regulations U and X of the
Board of Governors of the Federal Reserve System, 12 C.F.R. Parts 221 and 224.
7.15.3 Ineligible Securities. No portion of the proceeds of any Loans is to be used, and no portion of any Letter of Credit is to be
obtained, for the purpose of knowingly purchasing, or providing credit support for the purchase of, during the underwriting or placement
period or within thirty (30) days thereafter, any Ineligible Securities underwritten or privately placed by a Financial Affiliate.
7.16 Environmental Compliance.
(a) None of the Borrower, its Subsidiaries or, to the best knowledge of the Borrower or any of its Subsidiaries, any operator of the Real
Estate or any operations thereon is in violation, or has notice of an alleged violation, of any judgment, decree, order, law, license, rule or regulation
pertaining to environmental matters, including without limitation, those arising under Environmental Laws, which violation would have a Material
Adverse Effect;
(b) neither the Borrower nor any of its Subsidiaries has received written notice from any Governmental Authority, or, to the best of the
Borrower's and any of its Subsidiaries' knowledge, any other third party, (i) that any one of them has been identified by the United States
Environmental Protection Agency (“EPA”) as a potentially responsible party under CERCLA with respect to a site listed on the National Priorities
List, 40 C.F.R. Part 300 Appendix B; (ii) that any Hazardous Substances which any one of them has generated, transported or disposed of has been
found at any site at which a Governmental Authority has conducted or has ordered that any Borrower or any of its Subsidiaries conduct a remedial
investigation, removal or other response action pursuant to any Environmental Law; or (iii) that it is or shall be a named party to any claim, action,
cause of action, complaint, or legal or administrative proceeding (in each case, contingent or otherwise), the result of which could have a Material
Adverse Effect, arising out of any third party's incurrence of costs, expenses, losses or damages of any kind whatsoever in connection with the
release of Hazardous Substances;
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