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Common use of FAILURE OF PLAN QUALIFICATION Clause in Contracts

FAILURE OF PLAN QUALIFICATION. If the Plan fails to retain its qualified status, the Plan will no longer be considered to be part of a prototype plan, and such Employer can no longer participate under this prototype. In such event, the Plan will be considered an individually designed plan.

Appears in 8 contracts

Samples: Comprehensive 401(k) Profit Sharing Plan Nonstandardized Adoption Agreement (Kimball Electronics, Inc.), Retirement Plan Document (Merchants & Manufacturers Bancorporation Inc), Basic Plan Document (Nabi /De/)

FAILURE OF PLAN QUALIFICATION. If the Plan fails to retain its qualified status, the Plan will no longer be considered to be part of a prototype plan, and such Employer can no longer participate under this prototype. In such event, the Plan will be considered an are individually designed plan.. SECTION TEN MISCELLANEOUS

Appears in 1 contract

Samples: Comprehensive Nonstandardized Safe Harbor 401(k) Profit Sharing Plan Adoption Agreement (Cornell Corrections Inc)