Free-Look Rule for the Second Newer Plan?

[Guest MFJ]

Employer entered into a collective bargaining agreement about 10 years ago ("Plan 1"). The same employer entered into another collective bargaining agreement just a few years ago ("Plan 2"). Employer now wants to cease operation under Plan 2. Employer and Plan 2 meet all the conditions under 29 USC 1390.

Question: Can this Employer avoid its withdrawal liability for Plan 2 by using the Free-Look Rule even though Employer has been contributing to the same multiemployer plan for longer than 5 years under Plan 1 (i.e. Employer is not a "new employer" that the Free-Look Rule was intended to encourage to enter a multiemployer plan)?

Thank you.