Common use of No ERISA Funds Clause in Contracts

No ERISA Funds. No part of the funds used by such Member to acquire Units constitutes assets of any “employee benefit plan” within the meaning of Section 3(3) of the United States Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or assets allocated to any insurance company separate account in which any such employee benefit plan (or its related trust) has any interest, or any “Individual retirement account” or “individual retirement annuity” within the meaning of Section 408 of the Code or otherwise constitutes “plan assets” within the meaning of Section 3(42) of ERISA. If at any time such Member’s status set forth in this Section 4.1(o) changes, such Member will immediately notify the Management Committee of such change.

No ERISA Funds. No part of the funds used by such Member to acquire Units constitutes assets of any “employee benefit plan” within the meaning of Section 3(3) of the United States Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or assets allocated to any insurance company separate account in which any such employee benefit plan (or its related trust) has any interest, or any “Individual retirement account” or “individual retirement annuity” within the meaning of Section 408 of the Code or otherwise constitutes “plan assets” within the meaning of Section 3(42) of ERISA. If at any time such Member’s status set forth in this Section 4.1(o) changes4.1(o)changes, such Member will immediately notify the Management Committee of such change.