Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed. 10 • September 1996 • Master Repurchase Agreement
Appears in 4 contracts
Samples: Master Repurchase Agreement (Orchid Island Capital, Inc.), Master Repurchase Agreement (Capitalsource Inc), Master Repurchase Agreement (Capitalsource Inc)
Use of Employee Plan Assets. (a) iii. If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“"ERISA”'') are intended to be used by either party hereto (the “"Plan Party”") in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed. 10 • September 1996 • Master Repurchase Agreement
Appears in 1 contract
Samples: Master Repurchase Agreement (AG Mortgage Investment Trust, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed. 10 • September 1996 • § Master Repurchase AgreementAgreement § 10
Appears in 1 contract
Samples: Master Repurchase Agreement (Provident Mortgage Capital Associates, Inc.)
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed. 10 • § September 1996 • § Master Repurchase Agreement
Appears in 1 contract
Samples: Capitalsource Inc
Use of Employee Plan Assets. (a) If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed. 10 • 10n September 1996 • n Master Repurchase Agreement
Appears in 1 contract
Samples: Oxford Lane Capital Corp.
Use of Employee Plan Assets. (a) a. If assets of an employee benefit plan subject to any provision of the Employee Retirement Income Security Act of 1974 (“ERISA”) are intended to be used by either party hereto (the “Plan Party”) in a Transaction, the Plan Party shall so notify the other party prior to the Transaction. The Plan Party shall represent in writing to the other party that the Transaction does not constitute a prohibited transaction under ERISA or is otherwise exempt therefrom, and the other party may proceed in reliance thereon but shall not be required so to proceed. 10 • September 1996 • ■ Master Repurchase AgreementAgreement ■ 11
Appears in 1 contract
Samples: Master Repurchase Agreement (AG Mortgage Investment Trust, Inc.)
