Use of Employee Plan Assets. If assets of an employee benefit plan subject to Title I of ERISA or Section 4975 of the Code are intended to be used by either party hereto (the “Plan Party”) in the Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or Section 4975 of the Code or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 2 contracts
Samples: Master Repurchase Agreement and Securities Contract (Blackstone Mortgage Trust, Inc.), Master Repurchase Agreement (Ares Commercial Real Estate Corp)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to Title I any provision of ERISA or Section 4975 of the Code are intended to be used by either party hereto (the “Plan Party”) in the a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or Section 4975 of the Code or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Samples: Securities Contract Agreement (FS Credit Real Estate Income Trust, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to Title I of ERISA or Section 4975 of the Code are intended to be used by either party hereto (the “Plan Party”) in the Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or Section 4975 of the Code or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Samples: Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.)
