CHECK APPROPRIATE BOX. [ ] The Transferee is not an employee benefit plan or arrangement subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended, or a plan subject to Section 4975 of the Internal Revenue Code of 1986, as amended (a "Plan"), nor a person acting on behalf of a Plan nor using the assets of a Plan to effect such transfer; or [ ] if such Transferee is a Plan, then (A) such Plan is an "accredited investor" as defined in Rule 501(a)(1) of Regulation D under the Securities Act; (B) such Plan's investment in the Certificates does not exceed 25% of all of the Certificates outstanding at the time of such transfer; and (C) immediately after the acquisition, no more than 25% of the assets of the Plan with respect to which a person has discretionary authority or renders investment advice are invested in certificates representing interests in trusts containing assets sold or serviced by the same entity.
Appears in 2 contracts
Sources: Pool and Servicing Agreement (Nissan Auto Receivables Corp Ii), Pooling and Servicing Agreement (Nissan Auto Receivables Corp Ii)