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

Not Plan Assets; No Prohibited Transactions. For purposes of ERISA and the Internal Revenue Code, none of the assets of any Borrower, Borrower Member or Guarantor constitutes “plan assets,” within the meaning of ERISA and the regulations promulgated thereunder, of any Plan. The execution, delivery and performance of the Loan Documents and the Fee Letter by Borrower and Guarantor, and the borrowing, other credit extensions and repayment of amounts thereunder, do not and will not constitute “prohibited transactions” under ERISA or the Internal Revenue Code.

Not Plan Assets; No Prohibited Transactions. For purposes of ERISA and the Internal Revenue Code, none None of the assets of the Borrower constitutes “plan assets” within the meaning of § 3(42) of ERISA. Assuming that no Lender funds any Borrower, Borrower Member or Guarantor constitutes amount payable by it hereunder with “plan assets,” within as that term is defined in § 3(42) of ERISA, the meaning of ERISA and the regulations promulgated thereunder, of any Plan. The execution, delivery and performance of the Loan Documents this Agreement and the Fee Letter by Borrower and Guarantorother Loan Documents, and the borrowing, other extensions of credit extensions and repayment of amounts thereunderhereunder, do not and will not constitute non-exempt “prohibited transactions” under ERISA or the Internal Revenue Code.