Certificate Transfer Restrictions. (a) The Certificates (or interests therein) may not be acquired by or for the account of a Benefit Plan unless the Benefit Plan acquiring a Certificate (or interest therein) has available to it an exemption from the prohibited transaction rules under Section 406(a) of ERISA and Section 4975 of the Code and such exemption is applicable to the purchase and holding of the Certificate (or interest therein). Unless the Seller determines that such an exemption is available, by accepting and holding a Certificate (or interest therein), the Holder thereof and any related Certificate Owner shall each be deemed to have represented and warranted that it is not a Benefit Plan and, if requested to do so by the Seller pursuant to Section 3.4(b), the Certificateholder and the Certificate Owner shall execute and deliver to the Owner Trustee an Undertaking Letter in the form set forth in Exhibit C. The Certificates are also subject to the minimum denomination specified in Section 3.4(a).
Appears in 6 contracts
Samples: Trust Agreement (Ace Securities Corp), Trust Agreement (Wholesale Auto Receivables Corp), Trust Agreement (Wholesale Auto Receivables Corp)
