Common use of Effect of examination Clause in Contracts

Effect of examination. If the plan or Plan Sponsor is Under Examination, VCP is not available. However, while the plan or Plan Sponsor is Under Examination, insignificant Operational Failures can be corrected under SCP and, if correction has been substantially completed before the plan or Plan Sponsor is Under Examination, significant Operational Failures can be corrected under SCP.

Effect of examination. If the plan or Plan Sponsor is Under Examination, VCP is not available. However, available and SCP is only available as follows: while the plan or Plan Sponsor is Under Examination, insignificant Operational Failures can be corrected under SCP SCP; and, if correction has been completed or substantially completed before the plan or Plan Sponsor is Under Examination, correction of significant Operational Failures can be corrected completed under SCP.

Effect of examination. If the plan or Plan Sponsor is Under Examination, VCP is not available. However, available and SCP is only available as follows: while the plan or Plan Sponsor is Under Examination, insignificant Operational Failures can be corrected under SCP SCP; and, if correction of significant operational failures has been completed or substantially completed (as described in section 9.04) before the plan or Plan Sponsor is Under Examination, significant Operational Failures correction of those failures can be corrected completed under SCP.

Effect of examination. If the plan or Plan Sponsor is Under Examination, VCP is not available. However, while the plan or Plan Sponsor is Under ExaminationExamina- tion, insignificant Operational Failures can be corrected under SCP and, if correction cor- rection has been substantially completed before the plan or Plan Sponsor is Under Examination, significant Operational Failures can be corrected under SCP.