ERISA Covenants. The General Partner shall at all times conduct the affairs of the Partnership such that the Partnership’s assets would not constitute plan assets of any Partner for purposes of the fiduciary responsibility or prohibited transaction provisions of Title I of ERISA or Section 4975 of the Code. This shall include, but not be limited to, ensuring that the ERISA Partners shall, in the aggregate, hold less than twenty-five percent (25%) of the total value of each class of equity interest in the Partnership, as determined in accordance with ERISA and any regulations issued thereunder.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Equisource Hotel Fund I, LLP), Limited Partnership Agreement (CapSource Fund I, LP), Limited Partnership Agreement (Bridge Private Lending, LP)
ERISA Covenants. The General Partner shall at all times conduct the affairs of the Partnership such that the Partnership’s 's assets would not constitute plan assets of any Partner for purposes of the fiduciary responsibility or prohibited transaction provisions of Title I of ERISA or Section 4975 of the Code. This shall include, but not be limited to, ensuring that the ERISA Partners shall, in the aggregate, hold less than twenty-five percent (25%) of the total value of each class of equity interest in the Partnership, as determined in accordance with ERISA and any regulations issued thereunder.
Appears in 1 contract
Samples: Limited Liability Partnership Agreement (Equisource Hotel Fund I, LLP)
