Common use of Exempt Loan Clause in Contracts

Exempt Loan. To the Borrower’s knowledge, no Loan hereunder is for any purpose of Section 406 of ERISA or Section 4975 of the Code a direct or indirect loan or other transaction between the Administrative Agent or any of the Lenders and the ESOT which, if it is assumed that the Administrative Agent and Lenders are “parties in interest” and “disqualified persons” (as defined in Section 3(14) of ERISA and Section 4975 of the Code), is a non-exempt prohibited transaction described in Section 406 of ERISA or Section 4975 of the Code.

Exempt Loan. To the Borrower’s 's knowledge, no Loan hereunder is for any purpose of Section 406 of ERISA or Section 4975 of the Code a direct or indirect loan or other transaction between the Administrative Agent or any of the Lenders and the ESOT which, if it is assumed that the Administrative Agent and Lenders are “"parties in interest” " and “"disqualified persons” " (as defined in Section 3(14) of ERISA and Section 4975 of the Code), is a non-exempt prohibited transaction described in Section 406 of ERISA or Section 4975 of the Code.