ERISA Members Clause Samples
The "ERISA Members" clause defines which individuals or entities are considered members under the Employee Retirement Income Security Act (ERISA) for the purposes of the agreement. Typically, this clause clarifies whether employees, beneficiaries, or plan participants are included, and may specify how membership is determined in relation to benefit plans governed by ERISA. Its core function is to ensure clarity regarding who is covered by ERISA-related provisions in the contract, thereby reducing ambiguity and potential disputes over rights and obligations under the law.
ERISA Members. The Company shall use reasonable best efforts to ensure that “benefit plan investors” hold less than twenty five percent (25%) of each class of equity interests in the Company (determined in accordance with the Plan Assets Regulation).
ERISA Members. The Adviser will use reasonable efforts to avoid having the assets of the Fund constitute “plan assets” of any “benefit plan investor” within the meaning of Section 3(42) of ERISA that is subject to Title I of ERISA or Section 4975 of the Code.
ERISA Members. Notwithstanding the foregoing, the Manager reserves the right to utilize all Cash Available for Withdrawals to liquidate the capital accounts of deceased Members or ERISA plan investors in whole or in part, before satisfying outstanding withdrawal requests from any other Members. The Manager also reserves the right, at any time, to liquidate the capital accounts of ERISA plan investors to the extent the Manager determines, in its sole discretion, that any such liquidation is necessary in order to remain exempt from the Department of Labor’s “plan asset” regulations. Additionally, the Manager has the discretion to limit aggregate withdrawals during any single calendar year to not more than 10% of the total Company capital accounts of all Members that were outstanding at the beginning of such calendar year.
ERISA Members. Notwithstanding the foregoing, the General Partner reserves the right to utilize all Cash Available for Withdrawals to liquidate the capital accounts of deceased Members or ERISA plan investors in whole or in part, before satisfying outstanding withdrawal requests from any other Members. The General Partner also reserves the right, at any time, to liquidate the capital accounts of ERISA plan investors to the extent the General Partner determines, in its sole discretion, that any such liquidation is necessary in order to remain exempt from the Department of Labor’s “plan asset” regulations. Additionally, the General Partner has the discretion to limit aggregate withdrawals during any single calendar year to not more than 10% of the total Company capital accounts of all Members that were outstanding at the beginning of such calendar year. Paradyme Equities, LLC 29 Company Agreement
ERISA Members. The Company shall use reasonable best efforts to ensure that ERISA Members hold less than twenty five percent (25%) of each class of equity interests in the Company (determined in accordance with the Plan Assets Regulation).
ERISA Members. 37 13.17 Tax Cooperation……………………...…………………………………………………..35 13.18 Initial Member……………………...………………………………………………….....35
ERISA Members. (a) As of the date of this Agreement, less than 25% of the Units are held by ERISA Members. For this purpose, an “ERISA Member” is a Member that (i) is an employee benefit plan or trust subject to Title I of ERISA or Section 4975 of the Code, or is an entity deemed to hold “plan assets” of one or more such employee benefit plans within the meaning of the Plan Asset Regulations, and (ii) has so indicated to the Company in writing. The Company will notify each of the ERISA Members in writing if at any time in the future 25% or more of the outstanding Units are held by ERISA Members.