Common use of Plan Assets; Prohibited Transactions Clause in Contracts

Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or performance of the Transactions, including the making of any Loan hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 2 contracts

Samples: Credit Agreement (Northwest Natural Gas Co), Credit Agreement (Northwest Natural Gas Co)

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Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and and, neither the execution, delivery or nor performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan hereunderLoan, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 2 contracts

Samples: Credit Agreement (Pacira BioSciences, Inc.), Credit Agreement (Pacira BioSciences, Inc.)

Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold holds “plan assets” (within the meaning of the Plan Asset Regulations), and and, subject to the accuracy of the representations set forth in Section 8.07, neither the execution, delivery or performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 2 contracts

Samples: Credit Agreement (Rli Corp), Credit Agreement (Rli Corp)

Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or nor performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan hereunderAdvance, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 2 contracts

Samples: Credit Agreement (Madison Gas & Electric Co), Credit Agreement (Madison Gas & Electric Co)

Plan Assets; Prohibited Transactions. None of the Borrower Borrower, any Guarantor or any of its their respective Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and and, assuming the accuracy of the representations contained in Section 9.9, neither the execution, delivery or performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan hereunderLoan, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Internal Revenue Code.

Appears in 1 contract

Samples: Credit Agreement (Tiptree Inc.)

Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or nor performance of the Transactionstransactions contemplated under this Agreement, including the making of any Term Loan hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 1 contract

Samples: Term Loan Agreement (Allete Inc)

Plan Assets; Prohibited Transactions. None of the Borrower Borrowers or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or nor performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan and the issuance of any Letter of Credit hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 1 contract

Samples: Credit Agreement (Idexx Laboratories Inc /De)

Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or performance of the Transactions, including the making issuance of any Loan Letter of Credit hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.. ARTICLE IV Conditions SECTION 4.01

Appears in 1 contract

Samples: Uncommitted Letter of Credit and Reimbursement Agreement (Northwest Natural Gas Co)

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Plan Assets; Prohibited Transactions. None of the Borrower or any of its Restricted Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or nor performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 1 contract

Samples: Term Loan Credit Agreement (Clearwater Paper Corp)

Plan Assets; Prohibited Transactions. None of Neither the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or nor performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan and the issuance of any Letter of Credit hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code. ARTICLE IV CONDITIONS SECTION 4.

Appears in 1 contract

Samples: Credit Agreement (Horace Mann Educators Corp /De/)

Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and neither the execution, delivery or nor performance of the Transactionstransactions contemplated under this Agreement, including the making of any Loan hereunderLoan, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 1 contract

Samples: Term Loan Agreement (Chesapeake Energy Corp)

Plan Assets; Prohibited Transactions. None of the Borrower or any of its Subsidiaries is an entity deemed to hold “plan assets” (within the meaning of the Plan Asset Regulations), and and, assuming no “plan assets” are used by any Lender in the making of any Loan, neither the execution, delivery or performance of the Transactions, including the making of any Loan hereunder, will give rise to a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code.

Appears in 1 contract

Samples: Credit Agreement (Northwest Natural Holding Co)

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