Common use of ERISA Accounts Clause in Contracts

ERISA Accounts. If this Agreement is entered into by a trustee or other fiduciary including, but not limited to, someone meeting the definition of a “Fiduciary” under the Employee Retirement Income Security Act of 1974 ("ERISA") or an employee benefit plan subject to ERISA, such trustee or other fiduciary represents and warrants that Client's representation by Chelsea is permitted by the relevant governing instrument of such plan and that Client is duly authorized to enter into this Agreement. Client agrees to furnish Chelsea with such documents, as Chelsea shall reasonably request with respect to the foregoing. Client further agrees to notify Chelsea in writing, of any event that might affect this authority or the validity of this Agreement. Client additionally represents and warrants that: (i) its governing instruments provide that an "investment manager," as defined in ERISA, may be appointed; and (ii) the person executing and delivering this Agreement on behalf of Client is a “named fiduciary,” as defined in ERISA, who has the power under the plan to appoint an investment manager. If Client is a retirement plan subject to ERISA, Client agrees to add a clause to the fidelity bond required by law, which provides coverage for agents employed by it. This clause shall cover Chelsea, its officers, directors, and employees.