Prohibited Transaction definition

Prohibited Transaction means any transaction set forth in Section 406 of ERISA or Section 4975 of the Code.

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Prohibited Transaction as defined in Section 406 of ERISA and Section 4975(c) of the Code.

Prohibited Transaction a transaction which 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.

Examples of Prohibited Transaction in a sentence

The Borrower shall not permit to occur any non-exempt Prohibited Transaction or Reportable Event with respect to any Benefit Arrangement or any Plan.
The Loan Parties have not taken, or omitted to take, any action which would result in (i) any Collateral being treated as "plan assets" for purposes of Section 3(42) of ERISA or as the assets of any governmental, church, non-U.S. or other plan that is subject to Similar Law or (ii) the occurrence of any Prohibited Transaction in connection with the transaction contemplated hereunder.
Each Loan Party shall ensure that no transfer of any interest in any Loan Party and no admittance of additional Membership Interest Holders or equityholders or redemption of Membership Interest Holders or other equity interests will cause (i) the assets of a Loan Party or the Collateral to be treated as "plan assets" for purposes of Section 3(42) of ERISA or as the assets of any governmental, church, non-U.S. or other plan that is subject to Similar Law or (ii) the occurrence of any Prohibited Transaction.
There has not been any non-exempt Prohibited Transaction or Reportable Event with respect to any Benefit Arrangement or any Plan or, to the actual knowledge of the Borrower, with respect to any Multiemployer Plan or Multiple Employer Plan.

More Definitions of Prohibited Transaction

Prohibited Transaction has the meaning set forth in ERISA Sec. 406 and Code Sec. 4975.

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 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.

Prohibited Transaction has the meanings set forth for such term in Section 4975 of the Internal Revenue Code and Section 406 of ERISA.

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 any transaction involving any Plan which is proscribed by Section 406 of ERISA or Section 4975 of the Code.

Prohibited Transaction has the meaning specified in Section 6.1(v)(v).