ERISA Restrictions. The Holding Trust Certificate may not be purchased by or transferred to any person that is or will be, or that is acting on behalf of or investing assets of an entity that is or will be (i) an “employee benefit plan” (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject to Title I of ERISA, (ii) a “plan” (as defined in Section 4975(e)(1) of the Code) that is subject to Section 4975 of the Code, (iii) any entity whose underlying assets are deemed to include assets of an employee benefit plan or a plan described in (i) or (ii) above by reason of such employee benefit plan’s or plan’s investment in the entity (collectively, a “Plan”), or (iv) an employee benefit plan, a plan or other similar arrangement that is not a Plan but is subject to any provision of federal, state, local, non-U.S. or other laws or regulations substantially similar to Section 406 of ERISA or Section 4975 of the Code (each, a “Benefit Plan”). By accepting and holding its beneficial ownership interest in the Holding Trust Certificate, the Holder thereof shall be deemed to have represented and warranted that it is not a Benefit Plan.
Appears in 28 contracts
Samples: Trust Agreement (Exeter Automobile Receivables Trust 2024-4), Trust Agreement (Exeter Automobile Receivables Trust 2024-4), Trust Agreement (Exeter Automobile Receivables Trust 2024-3)
ERISA Restrictions. The Holding Trust Certificate (and any beneficial interest therein) may not be purchased by or transferred to any person that is or will beacquired by, or that is acting on behalf of or investing with the assets of an entity that is or will be (ia) an “employee benefit plan” (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject to the fiduciary responsibility provisions of Title I of ERISA, (iib) a “plan” (as defined in Section 4975(e)(1) of the Code) that is subject to Section 4975 of the Code, (iiic) any an entity whose underlying assets are deemed to include assets of an employee benefit plan or a plan described in (ia) or (iib) above by reason of such employee benefit plan’s or plan’s investment in the entity (collectively, a “PlanBenefit Plan Investor”), or (ivd) an employee benefit plan, a plan or other similar arrangement that is not a Benefit Plan Investor but is subject to any provision of federal, stateState, local, non-U.S. or other laws or regulations that are substantially similar to Section 406 of ERISA or Section 4975 of the Code (eacheach of (a) – (d), a “Benefit PlanPlan Entity”). By accepting and holding its the Certificate (or any beneficial ownership interest in the Holding Trust Certificatetherein), the Holder thereof shall be deemed to have represented and warranted that it is not, and is not acting on behalf of or investing the assets of, a Benefit PlanPlan Entity.
Appears in 6 contracts
Samples: Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2024-3), Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2024-3), Trust Agreement (GM Financial Consumer Automobile Receivables Trust 2024-2)
ERISA Restrictions. The Holding Trust Certificate (and any beneficial interest therein) may not be purchased by or transferred to any person that is or will beacquired by, or that is acting on behalf of or investing with the assets of an entity that is or will be (ia) an “employee benefit plan” (as defined in Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”)) that is subject to the fiduciary responsibility provisions of Title I of ERISA, (iib) a “plan” (as defined in Section 4975(e)(1) of the Code) that is subject to Section 4975 of the Code, (iiic) any an entity whose underlying assets are deemed to include assets of an employee benefit plan or a plan described in (ia) or (iib) above by reason of such employee benefit plan’s or plan’s investment in the entity (collectively, a “PlanBenefit Plan Investors”), or (ivd) an employee benefit plan, a plan or other similar arrangement that is not a Benefit Plan Investor but is subject to any provision of federal, stateState, local, non-U.S. or other laws or regulations that are substantially similar to Section 406 of ERISA or Section 4975 of the Code (eacheach of (a) – (d), a “Benefit PlanPlan Entity”). By accepting and holding its the Certificate (or any beneficial ownership interest in the Holding Trust Certificatetherein), the Holder thereof shall be deemed to have represented and warranted that it is not, and is not acting on behalf of or investing the assets of, a Benefit PlanPlan Entity.
Appears in 2 contracts
Samples: Trust Agreement (AmeriCredit Automobile Receivables Trust 2024-1), Trust Agreement (AmeriCredit Automobile Receivables Trust 2024-1)