ERISA Considerations. The Manager intends to limit the equity participation by “benefit plan investors” (as defined in Section 3(42) of ERISA) in the Company to less than Twenty-Five Percent (25%) of Membership Interests in the Company, to the extent required.
Appears in 7 contracts
Samples: Limited Liability Company Operating Agreement (Circle of Wealth Fund III LLC), Limited Liability Company Operating Agreement (Circle of Wealth Fund III LLC), Limited Liability Company Operating Agreement (LK Secured Lending Reg a Fund, LLC)
