ERISA; Employees. (a) As of the Closing Date hereof and throughout the term of the Loan, (i) Borrower is not nor will be an “employee benefit plan” as defined in Section 3(3) of ERISA, which is subject to Part 4 of Subtitle B of Title I of ERISA, and (ii) the assets of Borrower do not and will not constitute “plan assets” of one or more such plans for purposes of Title I of ERISA, as determined under Section 3(42) of ERISA.
(b) As of the Closing Date hereof and throughout the term of the Loan (i) Borrower is not nor will be a “governmental plan” within the meaning of Section 3(3) of ERISA and (ii) transactions by or with Borrower are not and will not violate state statutes applicable to Borrower regulating investments of and fiduciary obligations with respect to such governmental plans.
(c) Borrower does not have any employees.
ERISA; Employees. (a) As of the Closing Date and throughout the term of the Loan, (i) no Borrower is nor will it be an “employee benefit plan” as defined in Section 3(3) of ERISA, which is subject to Title I of ERISA, and (ii) the assets of Borrowers do not and will not constitute “plan assets” of one or more such plans within the meaning of Section 3(42) of ERISA.
(b) As of the Closing Date and throughout the term of the Loan (i) no Borrower is nor will it be a “governmental plan” within the meaning of Section 3(3) of ERISA and (ii) assuming that the Loan will not be funded or held with “plan assets” of any governmental plan and assuming that the counterparty to any such transaction is not a governmental plan or an entity whose assets are deemed to be “plan assets” of any governmental plan, transactions by or with any Borrower are not and will not be subject to state statutes applicable to any Borrower regulating investments of and fiduciary obligations with respect to governmental plans.
(c) No Borrower has any employees.
ERISA; Employees. (a) Neither the Real Property nor any portion thereof is the asset of an ERISA Plan within the meaning of 29 C.F.R. § 2510.3-101 or covered under Title I, Part 4 of the ERISA or Section 4975 of the Internal Revenue Code of 1986, as amended (“Plan Assets”), and no Plan Assets have been used in the financing, refinancing, or purchase by Selling Subsidiary of all or any portion of the Real Property. None of Parent, or any Selling Subsidiary is acting on behalf of an ERISA Plan, a “plan” within the meaning of the Code or an entity deemed to hold Plan Assets of any ERISA Plan.
(b) All Employees employed at any Hotel are the employees of a Manager. No Selling Subsidiary has ever employed any of the current or former employees of the Hotel and is not a joint employer of any Employees.
(c) No Selling Subsidiary sponsors or maintains any Employee Plan.
ERISA; Employees. (i) Neither the Acquired Properties nor any portion thereof are Plan Assets and no Plan Assets have been used in the financing, refinancing, or purchase by any of the Seller or its Selling Subsidiaries of all or any portion of the Acquired Properties. None of the Seller or any of its Selling Subsidiaries, is acting on behalf of any plan or entity deemed to hold Plan Assets.
(ii) Neither the Seller, nor any of its Selling Subsidiaries, has ever employed any of the current or former employees of or in respect of the Acquired Properties.
(iii) Neither the Seller nor any of its Subsidiaries maintain, sponsor, contribute to, have any obligation to contribute to, or have any current liabilities or obligations with respect to any Benefit Plan.
ERISA; Employees. All employees at the Real Property are employees of MC Owner or MC Owner’s Affiliates. There are no union contracts, collective bargaining agreements, pension, profit-sharing, bonus, employment contracts or other employee benefit plans, contracts or agreements relating to current or past employees of MC Owner or MC Owner’s Affiliates at the Real Property. There is no pending or to MC Owner’s Knowledge, threatened attempt to organize a labor union covering employees at the Real Property. There are not and have not been any pending or, to MC Owner’s Knowledge, threatened employment strikes, work stoppages, work slowdown, picketing, lockout or other material labor dispute involving the Real Property for the period MC Owner has owned the Real Property.
(i) MC Owner has not received written notice or, to MC Owner’s Knowledge, oral notice of any actual or alleged violations of any applicable labor and employment laws, including any applicable laws respecting labor relations, employment discrimination, disability rights or benefits, occupational health and safety, worker’s compensation, affirmative action, unemployment compensation, leaves of absence, plant closures, mass layoffs, immigration and wages and hours and (ii) there are no charges, complaints or lawsuits pending or, to MC Owner’s Knowledge, threatened against MC Owner regarding employment matters at the Real Property, and there are no Governmental Authority audits, examinations or investigations pending or threatened in writing against MC Owner regarding employment matters at the Real Property. With respect to the Real Property, MC Owner is not required to contribute to a “multiemployer plan” as defined under ERISA in connection with the operation of the Real Property.
ERISA; Employees. (a) (i) The Seller is not an “employee benefit plan” as defined in Section 3(3) of ERlSA, which is subject to Title I of ERlSA, or a plan as defined in Section 4975 of the Code, which is subject to Section 4975 of the Code and (ii) the Assets do not and will not constitute “plan assets” of one or more such employee benefit plans or plans for purposes of Title I of ERlSA of Section 4975 of the Code.
(b) The Seller is not a “governmental plan” within the meaning of Section 3(3) of ERISA and the assets of the Seller do not constitute “plan” assets of any such governmental plan.
ERISA; Employees. (a) The Company has made available to Buyer copies of all employee benefit plans (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended ("ERISA")) and all bonus, stock option, stock purchase, incentive, deferred compensation, supplemental retirement, severance and other similar employee benefit plans, programs or arrangements, and any current employment or executive compensation or severance agreements or arrangements, written or otherwise, for the benefit of, or relating to, any current or former employee of the Company or any trade or business (whether or not incorporated) which is a member or which is under common control with the Company (an "ERISA Affiliate") within the meaning of Section 414 of the Code, or any subsidiary of the Company (together, the "Company Employee Plans").
(b) (i) None of the Company Employee Plans promises or provides retiree medical or other retiree welfare benefits to any person except as required by applicable law, including but not limited to COBRA; (ii) all Company Employee Plans are in compliance in all material respects with the requirements prescribed by any and all applicable statutes (including ERISA and the Code), orders, or governmental rules and regulations currently in effect with respect thereto (including all applicable requirements for notification to participants or beneficiaries or the Department of Labor, Internal Revenue Service (the "IRS") or Secretary of the Treasury), and the Company has performed all obligations required to be performed by it under, is not in default under or in violation of, and has no knowledge of any default or violation by any other party to any of the Company Employee Plans; (iii) with respect to each Company Employee Plan intended to qualify under Section 401(a) of the Code and each trust intended to qualify under Section 501(a) of the Code, either a favorable determination letter with respect to each such Company Employee Plan and trust has been received from the IRS or there is still remaining a period of time under applicable Treasury Regulations or IRS pronouncements in which to apply for such a determination letter and to make any amendments necessary to obtain a favorable determination; (iv) no Company Employee Plan is or within the prior six (6) years has been subject to, and the Company has not incurred and does not expect to incur any liability under, Title IV of ERISA or Section 412 of the Code and (v) nothing in any Company Employ...
ERISA; Employees. (a) As of the Closing Date (or, with respect to any Additional Borrower, as of the date on which the Additional Advance is made) and throughout the term of the Loan, (i) Borrower is not and will not be an “employee benefit plan” as defined in Section 3(3) of ERISA, which is subject to Title I of ERISA, and (ii) the assets of Borrower do not and will not constitute “plan assets” of one or more such plans for purposes of Title I of ERISA.
(b) As of the Closing Date (or, with respect to any Additional Borrower, as of the date on which the Additional Advance is made) and throughout the term of the Loan (i) Borrower is not and will not be a “governmental plan” within the meaning of Section 3(3) of ERISA and (ii) transactions by or with Borrower are not and will not be subject to state statutes applicable to Borrower regulating investments of and fiduciary obligations with respect to governmental plans.
(c) Borrower has no employees.
ERISA; Employees. Seller is not a “plan” nor a plan “fiduciary” nor an entity holding “plan assets” (as those terms are defined under the Employee Retirement Income Security Act of 1974, as amended, and its applicable regulations as issued by the Department of Labor and the Internal Revenue Service, “ERISA”) nor an entity whose assets are deemed to be plan assets under ERISA. There are no employees of Seller employed in connection with the use, management, maintenance or operation of the Property whose employment will continue after the Closing Date. There is no bargaining unit or union contract relating to any employees of Seller.
ERISA; Employees. (a) The Borrower does not have, and never has had, any employees.
(b) Each of the Borrower and its ERISA Affiliates is in compliance in all material respects with the applicable provisions of ERISA and the Code and the regulations and published interpretations under them.
(c) Each Plan is, and has been, established and maintained in substantial compliance with its terms, ERISA and, where applicable, the Code.
(d) No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all other such ERISA Events, could reasonably be expected to result in material liability of the Borrower or any of its ERISA Affiliates.
(e) Full payment when due has been made of all amounts that the Borrower or any ERISA Affiliate is required under the terms of each Plan or Applicable Law to have paid as contributions to that Plan as of the date of this Agreement. Neither ATP nor any of its ERISA Affiliates has any defined benefit plan subject to ERISA.
(f) Neither the Borrower nor any ERISA Affiliate sponsors, maintains or contributes to an employee welfare benefit plan, as defined in section 3(1) of ERISA, including any such plan maintained to provide benefits to former employees of such entities, that may not be terminated by the Borrower or the ERISA Affiliate in its sole discretion at any time without any liability, other than routine administrative expenses and payments for benefits previously earned.
(g) Neither the Borrower nor any ERISA Affiliate sponsors, maintains or contributes to, or has at any time in the six-year period preceding the date hereof sponsored, maintained or contributed to, any employee pension benefit plan, as defined in section 3(2) of ERISA, that is subject to Title IV of ERISA, section 302 of ERISA or section 412 of the Code.
