Common use of Benefit Plan Investor Clause in Contracts

Benefit Plan Investor. The Borrower (i) is not a Benefit Plan Investor and (ii) is not a “governmental plan” within the meaning of Section 3(32) of ERISA (“Governmental Plan”), and neither the Borrower nor any transactions by or with the Borrower are subject to state statutes regulating investments of and fiduciary obligations with respect to Governmental Plans or to state statutes that impose prohibitions similar to those contained in Section 406 of ERISA or Section 4975 of the Code (“Similar Law”).

Benefit Plan Investor. The Borrower (ia) is not a Benefit Plan Investor and (iib) is not a “governmental plan” within the meaning of Section 3(32) of ERISA (“Governmental Plan”), ) and neither none of the underlying assets of the Borrower nor will be treated as constituting or including assets of any transactions by Benefit Plan Investor or with the Borrower are subject to state statutes regulating investments of and fiduciary obligations with respect to Governmental Plans or to state statutes that impose prohibitions similar to those contained in Section 406 of ERISA or Section 4975 of the Code (“Similar Law”)Plan.