Common use of Not Plan Assets; No Prohibited Transactions Clause in Contracts

Not Plan Assets; No Prohibited Transactions. None of the assets of the Company, any other Loan Party or any other Subsidiary constitute “plan assets” within the meaning of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder. Assuming that no Lender funds any amount payable by it hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, as modified by Section 3(42) of ERISA, the execution, delivery and performance of this Agreement, the other Loan Documents and the Fee Letters, and the extensions of credit and repayment of amounts hereunder and thereunder, do not and will not constitute non-exempt “prohibited transactions” under ERISA or the Internal Revenue Code.

Appears in 5 contracts

Sources: Credit Agreement (Park Hotels & Resorts Inc.), Loan Agreement (Park Hotels & Resorts Inc.), Credit Agreement (Park Hotels & Resorts Inc.)

Not Plan Assets; No Prohibited Transactions. None of the assets of the CompanyBorrower, any other Loan Party or any other Subsidiary constitute constitutes (i) “plan assets” within the meaning of ERISA29 C.F.R. Section 2510.3-101, the Internal Revenue Code and the respective regulations promulgated thereunderas modified by Section 3(42) of ERISA of one or more Benefit Plans (“Plan Assets”) or (ii) “plan assets” subject to Similar Law. Assuming that no Lender funds any amount payable by it hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, as modified by Section 3(42) of ERISAPlan Assets, the execution, delivery and performance of this Agreement, Agreement and the other Loan Documents and the Fee LettersDocuments, and the extensions of credit and repayment of amounts hereunder and thereunderhereunder, do not and will not constitute or result in non-exempt “prohibited transactions” under ERISA or the Internal Revenue CodeCode or a violation of Similar Law.

Appears in 5 contracts

Sources: Sixth Amendment to Fifth Amended and Restated Credit Agreement (LGI Homes, Inc.), Fifth Amended and Restated Credit Agreement (LGI Homes, Inc.), Credit Agreement (LGI Homes, Inc.)

Not Plan Assets; No Prohibited Transactions. None of the assets of the CompanyParent, the Borrower, any other Loan Party or any other Subsidiary constitute constitutes “plan assets” within the meaning as defined by 29 C.F.R. 2510.3-101 (as modified by §3(42) of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder). Assuming that no Lender funds any amount payable by it hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, 2510.3‑101 (as modified by Section §3(42) of ERISA), the execution, delivery and performance of this Agreement, Agreement and the other Loan Documents and the Fee LettersDocuments, and the extensions of credit and repayment of amounts hereunder and thereunderhereunder, do not and will not constitute non-exempt “prohibited transactions” under ERISA or §406 of ▇▇▇▇▇ ▇▇ §▇▇▇▇ of the Internal Revenue Code.

Appears in 1 contract

Sources: Credit Agreement (Equity Lifestyle Properties Inc)

Not Plan Assets; No Prohibited Transactions. None of the assets of the CompanyBorrower, any other Loan Party Party, the Parent or any other Subsidiary constitute constitutes “plan assets” within the meaning of ERISA29 C.F.R. 2510.3-101, the Internal Revenue Code and the respective regulations promulgated thereunderas modified by Section 3(42) of ERISA (“Plan Assets”). Assuming that no Lender funds any amount payable by it hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, as modified by Section 3(42) of ERISAPlan Assets, the execution, delivery and performance of this Agreement, Agreement and the other Loan Documents and the Fee LettersDocuments, and the extensions of credit and repayment of amounts hereunder and thereunderhereunder, do not and will not constitute non-exempt “prohibited transactions” under Section 406(a) of ERISA or Section 4975(c)(1)(A)-(D) of the Internal Revenue Code.

Appears in 1 contract

Sources: Credit Agreement (Equity Commonwealth)

Not Plan Assets; No Prohibited Transactions. None of the assets of the Company, any other Loan Party or any other Subsidiary constitute “plan assets” within the meaning of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder. Assuming that no Lender funds any amount payable by it hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, as modified by Section 3(42) of ERISA, the execution, delivery and performance of this Agreement, the other Loan Documents and the Fee LettersLetterLetters, and the extensions of credit and repayment of amounts hereunder and thereunder, do not and will not constitute non-exempt “prohibited transactions” under ERISA or the Internal Revenue Code.

Appears in 1 contract

Sources: Loan Agreement (Park Hotels & Resorts Inc.)

Not Plan Assets; No Prohibited Transactions. None of the assets of the CompanyParent, the Borrower, any other Loan Party or any other Subsidiary constitute constitutes “plan assets” within the meaning as defined by 29 C.F.R. 2510.3-101 (as modified by §3(42) of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder). Assuming that no Lender funds any amount payable by it hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, 101 (as modified by Section §3(42) of ERISA), the execution, delivery and performance of this Agreement, Agreement and the other Loan Documents and the Fee LettersDocuments, and the extensions of credit and repayment of amounts hereunder and thereunderhereunder, do not and will not constitute non-exempt “prohibited transactions” under ERISA or §406 of ▇▇▇▇▇ ▇▇ §▇▇▇▇ of the Internal Revenue Code.

Appears in 1 contract

Sources: Credit Agreement (Equity Lifestyle Properties Inc)

Not Plan Assets; No Prohibited Transactions. None of the assets of the Company, any other Loan Party or any other Subsidiary constitute “plan assets” within the meaning of ERISA, the Internal Revenue Code and the respective regulations promulgated thereunder. Assuming that no Lender funds any amount payable by it hereunder with “plan assets,” as that term is defined in 29 C.F.R. 2510.3-101, as modified by Section 3(42) of ERISA, the execution, delivery and performance of this Agreement, the other Loan Documents and the Fee LettersLetter, and the extensions of credit and repayment of amounts hereunder and thereunder, do not and will not constitute non-exempt “prohibited transactions” under ERISA or the Internal Revenue Code.

Appears in 1 contract

Sources: Delayed Draw Term Loan Agreement (Park Hotels & Resorts Inc.)