Borrower will not be reconstituted as a Plan or as an entity whose assets constitute “plan assets”. Borrower will not become a “governmental plan” within the meaning of Section 3(32) of ERISA and will not become subject to any state statutes that regulate investments of, and fiduciary obligations with respect to, governmental plans, that are similar to the provisions of Section 406 of ERISA or Section 4975 of the Code and that would be violated by the transactions contemplated by the Loan Documents.