Representations, Warranties and Covenants with respect to ERISA. (a) By acquiring a Series 2018-2 Note (or interest therein), each purchaser and subsequent transferee shall be deemed to represent and warrant that either (i) it is not (and for so long as it holds such Series 2018-2 Note will not be), is not acting on behalf of (and for so long as it holds such Series 2018-2 Note will not be acting on behalf of), and is not investing the assets of a Benefit Plan or a governmental plan, church plan or non-U.S. plan that is subject to any Similar Law or (ii) its acquisition, continued holding and disposition of such Series 2018-2 Note will not result in a non-exempt prohibited transaction under ERISA or Section 4975 of the Code or a violation of any Similar Law. Benefit Plans may not acquire the Series 2018-2 Notes at any time that the Series 2018-2 Notes do not have a current investment grade rating from a nationally recognized statistical rating organization.
Appears in 2 contracts
Samples: RFS Holding LLC, Synchrony Credit Card Master Note Trust
Representations, Warranties and Covenants with respect to ERISA. (a) By acquiring a Series 20182017-2 Note (or interest therein), each purchaser and subsequent transferee shall be deemed to represent and warrant that either (i) it is not (and for so long as it holds such Series 20182017-2 Note will not be), is not acting on behalf of (and for so long as it holds such Series 20182017-2 Note will not be acting on behalf of), and is not investing the assets of a Benefit Plan or a governmental plan, church plan or non-U.S. plan that is subject to any Similar Law or (ii) its acquisition, continued holding and disposition of such Series 20182017-2 Note will not result in a non-exempt prohibited transaction under ERISA or Section 4975 of the Code or a violation of any Similar Law. Benefit Plans may not acquire the Series 20182017-2 Notes at any time that the Series 20182017-2 Notes do not have a current investment grade rating from a nationally recognized statistical rating organization.
Appears in 2 contracts
Samples: Synchrony Credit Card Master Note Trust, Synchrony Credit Card Master Note Trust