No Prohibited Transactions. None of the Company, any of its Subsidiaries, or, to the Knowledge of the Company, any of their respective directors, officers, employees or agents has, with respect to any Employee Plan, engaged in or been a party to any breach of fiduciary duty or non-exempt “prohibited transaction” (as defined in Section 4975 of the Code or Section 406 of ERISA) that could reasonably be expected to result in the imposition of a material penalty assessed pursuant to Section 502(i) of ERISA or a material Tax imposed by Section 4975 of the Code, in each case applicable to the Company Group or any Employee Plan, or for which the Company Group has any indemnification obligation.
No Prohibited Transactions. None of the Company, any of its Subsidiaries or, to the Knowledge of the Company, any of their respective directors, officers, employees or agents has, with respect to any Company Benefit Plan, engaged in or been a party to any non-exempt “prohibited transaction” (as defined in Section 4975 of the Code or Section 406 of ERISA) that could reasonably be expected to result in the imposition of a material penalty assessed pursuant to Section 502(i) of ERISA or a Tax imposed by Section 4975 of the Code, in each case applicable to the Company, any of its Subsidiaries or any Company Benefit Plan, or for which the Company or any of its Subsidiaries has any indemnification obligation.
No Prohibited Transactions. Accumulated Funding Deficiencies, or Reportable Events have occurred with respect to any Pension Plans that, in the aggregate, could subject the Originator to any material tax, penalty or other liability; and
No Prohibited Transactions. None of the transactions contemplated by the Operative Documents will constitute a prohibited transaction within the meaning of Section 4975(c)(1)(A) through (D) of the Code.
No Prohibited Transactions. If you engage in a prohibited transaction, the Beneficiary IRA loses its tax exempt status as of the first day of the year. You must include the fair market value of your Beneficiary IRA as of that first day in your gross income for the year during which the prohibited transaction occurred, and pay all applicable taxes and penalties.
No Prohibited Transactions. If your account stops being a SIMPLE IRA because you or your beneficiary engaged in a prohibited transaction, the account is treated as distributing all its assets to you at their fair market values on the first day of the year. If the total of those values is more than your basis in the SIMPLE IRA, you will have a taxable gain that is includible in your income.
No Prohibited Transactions. The Borrower represents to the Lender that either (a) the Borrower is not an “employee benefit plan” within the meaning of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), that is subject to Title I of ERISA, a “plan” within the meaning of Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or an entity that is deemed to hold “plan assets” within the meaning of 29 C.F.R. §2510.3-101 of any such employee benefit plan or (b) the entering into of the Loan Documents, the acceptance of the Loan by the Borrower and the existence of the Loan will not result in a non-exempt prohibited transaction under §406 of ERISA or Section 4975 of the Code. The Borrower further warrants and covenants that the foregoing representation will remain true during the term of the Loan.
No Prohibited Transactions. If your account stops being an IRA Definitions. The IRS Forms 5305 series agreement for traditional IRAs because you or your beneficiary engaged in a prohibited transaction, contains a definitions section. The definitions found in such section apply the account is treated as distributing all its assets to you at their fair to this agreement. The IRS refers to you as the depositor, and us as the market values on the first day of the year. If the total of those values custodian. References to "you," "your," and "IRA owner" will mean the is more than your basis in the IRA, you will have a taxable gain that depositor, and "we," "us," and "our" will mean the custodian. The terms is includible in your income.
No Prohibited Transactions. None of the Company, any of its Subsidiaries, or, to the Knowledge of the Company, any of their respective directors, officers, employees or agents has, with respect to any Employee Plan, engaged in or been a party to any non-exempt “prohibited transaction” (as defined in Section 4975 of the Code or Section 406 of ERISA), in each case except as has not been, and would not reasonably be expected to be, individually or in the aggregate, material to the Company and its Subsidiaries taken as a whole.
No Prohibited Transactions. The Trustee in the performance of its obligations under this Agreement, shall observe its fiduciary obligations under Section 404 of ERISA, shall not engage in any transaction prohibited by ERISA or contrary to such fiduciary obligations, and, in acquiring Shares, shall not (and shall not be deemed obligated to) pay more than "adequate consideration", as defined in Section 3(18) of ERISA.
