Prohibited Transaction definition

Prohibited Transaction means any transaction set forth in Section 406 of ERISA or Section 4975 of the Code.
Prohibited Transaction has the meaning assigned to such term in Section 406 of ERISA and Section 4975(c) of the Code.
Prohibited Transaction means any prohibited transaction as defined in Section 4975 of the Internal Revenue Code or Section 406 of ERISA for which neither an individual nor a class exemption has been issued by the United States Department of Labor.

Examples of Prohibited Transaction in a sentence

  • So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, (a) change the nature of its business; (b) sell, divest, change the structure of any material assets other than in the ordinary course of business; (c) enter into a Variable Rate Transaction; or (d) enter into any Prohibited Transaction (as defined in this Note).

  • Assuming that the credit extended hereunder does not involve the assets of any employee benefit plan subject to ERISA, neither the execution of this Agreement nor the consummation of the transactions contemplated hereby will involve a Prohibited Transaction.

  • So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, (a) change the nature of its business, (b) sell, divest, change the structure of any material assets other than in the ordinary course of business, (c) enter into any Variable Rate Transaction, or (d) enter into any Prohibited Transaction (as defined in this Note).

  • All orders for the purchase and sale of securities and derivative instruments for the Account shall be placed in such markets, through such brokers, dealers or other parties, at such prices and at such commission rates, as the case may be, as in the good faith judgment of Adviser is prudent; provided that such execution is consistent with this Agreement, any applicable securities laws, and any applicable United States Department of Labor Prohibited Transaction Class Exemptions.

  • And the evidence fails to show that Johns participated in the mortgage payments on the Rideout Blalock Trust property.3. The Prohibited Transaction Summary To summarize the prohibited transaction analysis: Johns engaged in the negotiations and actions that caused large sums of money or credit to be extended to his IRA by virtue of its beneficial interest in the properties that were purchased with that credit.


More Definitions of Prohibited Transaction

Prohibited Transaction. The meaning set forth from time to time in the definition thereof at Section 860F(a)(2) of the Code (or any successor statute thereto) and applicable to the Trust.
Prohibited Transaction has the meaning set forth in ERISA Sec. 406 and Code Sec. 4975.
Prohibited Transaction has the meaning set forth in ERISA ss.406 and Code ss.4975.
Prohibited Transaction means a transaction that is prohibited under Section 4975 of the Code or Section 406 of ERISA and not exempt under Section 4975 of the Code or Section 408 of ERISA, respectively.
Prohibited Transaction means any prohibited transaction as defined in Section 4975 of the Internal Revenue Code or Section 406 of ERISA for which neither an individual nor a class exemption has been issued by the United States Department of Labor. Property shall mean all real property, both owned and leased, of any Loan Party or Subsidiary of a Loan Party.
Prohibited Transaction means a transaction with a third party or third parties in which the Company issues or sells (or arranges or agrees to issue or sell):
Prohibited Transaction means a prohibited transaction as described under Section 406 of ERISA or Section 4975 of the Internal Revenue Code which is not the subject of a statutory exemption under Section 408(b) of ERISA or an administrative exemption granted pursuant to Section 408(a) of ERISA.