Common use of ERISA Status Clause in Contracts

ERISA Status. With respect to each Initial Borrower, either (i) a favorable written opinion of counsel to each Initial Borrower, addressed to Administrative Agent, reasonably acceptable to Administrative Agent and its counsel, regarding the status of each Initial Borrower as an Operating Company (or a copy of such opinion addressed to the Investors of each Initial Borrower, reasonably acceptable to Administrative Agent and its counsel, together with a reliance letter with respect thereto, addressed to Administrative Agent); or (ii) a certificate, addressed to Administrative Agent, signed by a Responsible Officer of the each Initial Borrower, that the underlying assets of each Initial Borrower do not constitute Plan Assets because less than twenty-five percent (25%) of the total value of each class of equity interests in each Initial Borrower is held by “benefit plan investors” within the meaning of Section 3(42) of ERISA; and

ERISA Status. With respect to each the Initial Borrower, either (i) a favorable written opinion of counsel to each the Initial Borrower, addressed to Administrative Agent, reasonably acceptable to Administrative Agent and its counsel, regarding the status of each the Initial Borrower as an Operating Company (or a copy of such opinion addressed to the Investors of each the Initial Borrower, reasonably acceptable to Administrative Agent and its counsel, together with a reliance letter with respect thereto, addressed to Administrative Agent); or (ii) a certificate, addressed to Administrative Agent, signed by a Responsible Officer of the each Initial Borrower, that the underlying assets of each the Initial Borrower do not constitute Plan Assets because less than twenty-five percent (25%) of the total value of each class of equity interests in each Initial the initial Borrower is held by “benefit plan investors” within the meaning of Section 3(42) of ERISA; and

ERISA Status. With respect to each Initial Borrower, either (i) a favorable written opinion of counsel to each Initial such Borrower, addressed to Administrative Agentthe Secured Parties, reasonably acceptable to the Administrative Agent and its counsel, regarding the status of each Initial such Borrower as an Operating Company (or a copy of such opinion addressed to the Investors of each Initial BorrowerInvestors, reasonably acceptable to the Administrative Agent and its counsel, together with a reliance letter with respect thereto, addressed to Administrative Agentthe Secured Parties); or (ii) a certificate, addressed to Administrative Agentthe Secured Parties, signed by a Responsible Officer of the each Initial Borrower, such Borrower that the underlying assets of each Initial such Borrower do not constitute Plan Assets because less than twenty-twenty five percent (25%) of the total value of each class of equity interests in each Initial such Borrower is held by “benefit plan investors” within the meaning of Section 3(42) of ERISA; and;

ERISA Status. With respect to each the Initial Borrower, either (i) a favorable written opinion of counsel to each Initial Borrowercounsel, addressed to Administrative Agentthe Secured Parties, reasonably acceptable to the Administrative Agent and its counsel, regarding the status of each the Initial Borrower as an Operating Company (or a copy of such opinion addressed to the Investors of each Initial BorrowerInvestors, reasonably acceptable to the Administrative Agent and its counsel, together with a reliance letter with respect thereto, addressed to Administrative Agentthe Secured Parties); or (ii) a certificate, addressed to Administrative Agentthe Secured Parties, signed by a Responsible Officer of the each Initial Borrower, Borrower that the underlying assets of each the Initial Borrower do not constitute Plan Assets because less than twenty-five percent (25%) of the total value of each class of equity interests in each the Initial Borrower is held by “benefit plan investors” within the meaning of Section 3(42) of ERISA; and;