Entity Holding Plan Assets Sample Clauses
The 'Entity Holding Plan Assets' clause defines the rules and responsibilities for entities that hold assets belonging to employee benefit plans, such as pension or retirement funds. It typically outlines the standards for managing, segregating, and reporting these assets to ensure compliance with regulations like ERISA. By establishing clear guidelines, this clause helps prevent misuse or commingling of plan assets, thereby protecting the interests of plan participants and beneficiaries.
Entity Holding Plan Assets. We, or the entity on whose behalf we are acting, are an entity or fund whose underlying assets include "plan assets" by reason of a Benefit Plan Investor's investment in such entity.
Entity Holding Plan Assets. Entity or fund whose underlying assets include “plan assets” by reason of the investment of a person described in Section 1 directly above in such entity and it, and any such entity on whose behalf it is acting, are not described in Question 3 below. Each of the persons described in Section 1 or 2 directly above is referred to in this Certificate as a “Benefit Plan Investor.” If you check Box 2, please indicate the maximum percentage of the entity or fund that will constitute “plan assets” for purposes of Title I of ERISA or Section 4975 of the Code: percent. An entity or fund that does not provide the foregoing percentage hereby acknowledges that for purposes of determining whether Benefit Plan Investors own less than 25 percent of the value of the Class D Notes, 100 percent of the assets of the entity or fund will be treated as “plan assets.”
Entity Holding Plan Assets. We, or the entity on whose behalf we are acting, are an entity or fund whose underlying assets include “plan assets” by reason of one or more Benefit Plan Investor’s investment in such entity. Examples: (i) an insurance company separate account, (ii) a bank collective investment fund and (iii) a hedge fund or other private investment vehicle where 25% or more of the value of any class of its equity is held by Benefit Plan Investors. If you check Box 2, please indicate the maximum percentage of the entity or fund that will constitute “plan assets” for purposes of Title I of ERISA or Section 4975 of the Code: ___________%. AN ENTITY OR FUND THAT CANNOT PROVIDE THE FOREGOING PERCENTAGE HEREBY ACKNOWLEDGES THAT FOR PURPOSES OF DETERMINING WHETHER BENEFIT PLAN INVESTORS OWN LESS THAN 25% OF THE VALUE OF THE SUBORDINATED NOTES, AS APPLICABLE, ISSUED BY THE ISSUER, 100% OF THE ASSETS OF THE ENTITY OR FUND WILL BE TREATED AS “PLAN ASSETS”. ERISA and the regulations promulgated thereunder are technical. Accordingly, if you have any question regarding whether you may be an entity described in this Section 2, you should consult with your counsel.