Common use of Fiduciary Duties and Prohibited Transactions Clause in Contracts

Fiduciary Duties and Prohibited Transactions. No prohibited transaction (as defined in Section 4975 of the Code or Section 406 of ERISA) has occurred that involves the assets of any Employee Plan for which no exemption exists under Section 408 of ERISA and Section 4975(c)(2) or (d) of the Code and is reasonably likely to subject the Company, the Company Subsidiary or any of their employees, directors or officers to the tax or penalty on prohibited transactions imposed by Section 4975 of the Code or the sanctions imposed on prohibited transactions under Title I of ERISA. Neither the Company nor the Company Subsidiary has violated or has participated with a fiduciary (as defined in Section 3(21) of ERISA) of a Welfare Plan or Pension Plan in a violation of Part 4 of Title I, Subtitle B of ERISA with respect to any such plan, and the Company has not been assessed any civil penalty under Section 502(l) of ERISA.

Fiduciary Duties and Prohibited Transactions. No prohibited transaction (as defined in Section 4975 of the Code or Section 406 of ERISA) has occurred that involves the assets of any Employee Plan for which no exemption exists under Section 408 of ERISA and Section 4975(c)(2) or (d) of the Code and is reasonably likely to subject the Company, the any Company Subsidiary or any of their employees, directors or officers to the tax or penalty on prohibited transactions imposed by Section 4975 of the Code or the sanctions imposed on prohibited transactions under Title I of ERISA. Neither the Company nor the any Company Subsidiary has violated or has participated with a fiduciary (as defined in Section 3(21) of ERISA) of a Welfare Plan or Pension Plan in a violation of Part 4 of Title I, Subtitle B of ERISA with respect to any such plan, and the Company has not been assessed any civil penalty under Section 502(l) of ERISA.