Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 115 contracts
Samples: Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (United States Cellular Corp), Master Repurchase Agreement (loanDepot, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”") in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 59 contracts
Samples: Master Repurchase Agreement (Cim Real Estate Finance Trust, Inc.), Nexpoint Real Estate Strategies Fund, Master Repurchase Agreement (Altisource Residential Corp)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) ERISA are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 23 contracts
Samples: Master Repurchase and Securities Contract Agreement (Starwood Credit Real Estate Income Trust), Securities Contract Agreement, Master Repurchase (Blackstone Mortgage Trust, Inc.)
Use of Employee Plan Assets. (a) a. If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefromtherefore, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 10 contracts
Samples: Master Treasury Management Services Agreement, Master Treasury Management Services Agreement, Master Treasury Management Services Agreement
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 6 contracts
Samples: Letter Agreement (Dupont E I De Nemours & Co), Securities Agreement, Master Repurchase Agreement (Northstar Realty)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) ERISA are intended to be used by either party hereto (the “"Plan Party”") in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 5 contracts
Samples: Master Repurchase Agreement (First Alliance Corp /De/), Master Repurchase Agreement (Novastar Financial Inc), Master Repurchase Agreement (First Alliance Corp /De/)
Use of Employee Plan Assets. (a) a. If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 5 contracts
Samples: Master Repurchase Agreement (AG Mortgage Investment Trust, Inc.), Master Services Agreement, Treasury Management Master Agreement
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required to so to proceed.
Appears in 5 contracts
Samples: Master Repurchase Agreement (MassMutual Advantage Funds), Master Repurchase Agreement (MML Series Investment Fund), Master Repurchase Agreement (MML Series Investment Fund II)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required to so to proceed.
Appears in 5 contracts
Samples: Master Repurchase Agreement (UWM Holdings Corp), loanDepot, Inc., loanDepot, Inc.
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 4 contracts
Samples: Master Repurchase Agreement (Gramercy Capital Corp), Repurchase Agreement (Gramercy Capital Corp), Master Repurchase Agreement (Gramercy Capital Corp)
Use of Employee Plan Assets. (a) If No assets of an employee benefit plan any Plan subject to any provision of ERISA or Section 4975 of the Employee Retirement Income Security Act of 1974 (“ERISA”) Code shall be used in connection with any Transaction. If any such assets are intended to be used by either party hereto (the “Plan Party”) in a 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 4 contracts
Samples: Master Repurchase Agreement (Colony Credit Real Estate, Inc.), Master Repurchase Agreement (NorthStar Real Estate Income II, Inc.), Master Repurchase Agreement (Northstar Realty Finance Corp.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefromthere from, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 3 contracts
Samples: Master Repurchase Agreement, Master Repurchase Agreement (Agilent Technologies Inc), Provident Mortgage Capital Associates, Inc.
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 1974, as amended (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 3 contracts
Samples: Ancillary Agreement (Amgen Inc), Master Repurchase Agreement (Amgen Inc), Master Repurchase Agreement (Amgen Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be he required so to proceed.
Appears in 3 contracts
Samples: Repurchase Agreement (Aether Systems Inc), Repurchase Agreement (Aether Systems Inc), Repurchase Agreement (Aether Systems Inc)
Use of Employee Plan Assets. (ai) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.;
Appears in 3 contracts
Samples: Treasury Management Services Agreement, Treasury Management Services Agreement, Treasury Management Services Agreement
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”) are intended to be used by either party hereto (the “"Plan Party”") in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 3 contracts
Samples: Master Repurchase Agreement (Ing Funds Trust), Master Repurchase Agreement (Capital Trust Inc), Master Repurchase Agreement (Capital Trust Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) ERISA are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.. LEGAL_US_E # 160815361.8
Appears in 2 contracts
Samples: Custodial Agreement (Claros Mortgage Trust, Inc.), Custodial Agreement (Claros Mortgage Trust, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefromfrom ERISA, and the other party may proceed in reliance thereon on such representation but shall not be required so to proceed.
Appears in 2 contracts
Samples: Master Repurchase Agreement (Capital Lease Funding Inc), Master Repurchase Agreement (Capital Lease Funding Inc)
Use of Employee Plan Assets. (a) If assets of an any employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”") in 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 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 (Mego Mortgage Corp), Custodial Agreement (Franchise Mortgage Acceptance Co)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”") in 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 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 (Cfi Mortgage Inc), Master Repurchase Agreement (Metropolitan Mortgage & Securities Co Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) ERISA are intended to be used by either party hereto (the “"Plan Party”") in 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 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: Loan Purchase and Repurchase Agreement (Arbor Realty Trust Inc), Repurchase Agreement (Arbor Realty Trust Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefromERISA, 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 (Blackstone Mortgage Trust, Inc.), Master Repurchase Agreement (Blackstone Mortgage Trust, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”") in a Transaction, the Plan Party shall so notify the other party prior to the Transactiontransaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in In reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) ERISA are intended to be used by either any party hereto (the “Plan Party”) in a TransactionLoan, the Plan Party shall so notify the other party parties prior to the TransactionLoan. The Plan Party shall represent in writing to the other party parties that the Transaction Loan does not constitute a prohibited transaction under ERISA 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
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior prio r to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited prohibite d transaction under ERISA 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: www.ird.gov.hk
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”") in 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 Transaction under ERISA 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 (Amresco Capital Trust)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “Plan the"Plan Party”") in 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 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 (Wilshire Financial Services Group Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “Plan 'Pian Party”") in In a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party Pity shall represent in In writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is Is otherwise exempt therefrom, and the other party may proceed in In reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Samples: Master Repurchase Agreement (Starnet Financial Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) ERISA are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party Deal Agent prior to the Transaction. The Plan Party shall represent in writing to the other party Deal Agent that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party Deal Agent may proceed in reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Samples: Master Repurchase Agreement (Arbor Realty Trust Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”") in 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 is otherwise exempt therefrom, and the other party may proceed in In reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Use of Employee Plan Assets. (a) (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 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: Newmark Group, Inc.
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the hereto(the “Plan Party”) in 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 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
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 1974, as amended (“"ERISA”) "), are intended to be used by either party hereto (the “"Plan Party”") in 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 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 (Arbor Realty Trust Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior to Table of Contents 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 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 (NorthStar Real Estate Income II, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”) " in 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 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 (Wilshire Financial Services Group Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent make the appropriate ERISA representations in writing reasonably acceptable to the other party so that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon (but shall not be required so obligated to proceed) in reliance thereon.
Appears in 1 contract
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”") are intended to be used by either party hereto (the “"Plan Party”") in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed.notify
Appears in 1 contract
Samples: Master Financing Agreement (Cityscape Financial Corp)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party Repurchase Agreement $250MM Facility FINAL VERSION hereto (the “Plan Party”) in 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 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 (CBRE Realty Finance Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) as Underlying Securities, Collateral or payment in a Transactionconnection with an Option, the Plan Party shall so notify the other party prior to entering into the TransactionOption. The Plan Party shall represent in writing to the other party that the Transaction Option does not constitute a prohibited transaction under ERISA 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: www.sifma.org
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either any party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the each other party prior to the Transaction. The Plan Party shall represent in writing to the each other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the each other party may proceed in reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Samples: Master Repurchase Agreement (Novastar Financial Inc)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 pro- hibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed pro- ceed in reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Samples: Forward Transaction Agreement
Use of Employee Plan Assets. (ai) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefrom, and the other party may proceed in reliance thereon but by shall not be required so to proceed.
Appears in 1 contract
Samples: Master Services Agreement
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in 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 is otherwise exempt therefromERISA, and that the Eligible Loans that are the subject of the Transaction are not, and will not as a result of the Transaction become, “plan assets” as that term is used in ERISA. The other party may proceed in reliance thereon on such writing, but shall not be required to so to proceed.
Appears in 1 contract