Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of ERISA are intended to be used by Seller in a Transaction, Seller shall so notify Buyer before the Transaction. Seller shall represent in writing to Buyer that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and Buyer may proceed in reliance thereon but shall not be required so to proceed.
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Samples: Master Repurchase Agreement (AmeriHome, Inc.), Master Repurchase Agreement (Guild Holdings Co), Master Repurchase Agreement (Walker & Dunlop, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of ERISA the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by Seller in a Transaction, Seller shall so notify Buyer before prior to the Transaction. Seller shall represent in writing to Buyer that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and Buyer may proceed in reliance thereon but shall not be required so to proceed.
Appears in 3 contracts
Samples: Master Repurchase Agreement, Master Repurchase Agreement (Tree.com, Inc.), Master Repurchase Agreement (Pulte Homes Inc/Mi/)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of ERISA are intended to be used by Seller in a Transaction (each, an “ERISA Transaction”), Seller shall so notify Buyer before the such ERISA Transaction. Seller shall represent in writing to Buyer that the ERISA Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and Buyer may proceed in reliance thereon but shall not be required so to proceed.
Appears in 2 contracts
Samples: Master Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (loanDepot, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of ERISA are intended to be used by Seller in a Transaction, Seller shall so notify Buyer Administrative Agent before the Transaction. Seller shall represent in writing to Buyer Administrative Agent that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and Buyer Administrative Agent may proceed in reliance thereon but shall not be required so to proceed.
Appears in 2 contracts
Samples: Master Repurchase Agreement (Rocket Companies, Inc.), Confidential Disclosure Agreement (Rocket Companies, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of ERISA are intended to be used by a Seller in a Transaction, such Seller shall so notify Buyer before the Transaction. Such Seller shall represent in writing to Buyer that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and Buyer may proceed in reliance thereon but shall not be required so to proceed.
Appears in 1 contract
Samples: Master Repurchase Agreement (PennyMac Mortgage Investment Trust)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of ERISA the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by any Seller in a Transaction, a Seller shall so notify Buyer before prior to the Transaction. Such Seller shall represent in writing to Buyer that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and Buyer may proceed in reliance thereon but shall not be required so to proceed.
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Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the ERISA are intended to be used by any Seller in a Transaction, a Seller shall so notify Buyer before Administrative Agent prior to the Transaction. Such Seller shall represent in writing to Buyer Administrative Agent that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and Buyer Administrative Agent may proceed in reliance thereon but shall not be required so to proceed.
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