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. SECTION TEN MISCELLANEOUS 10.01 STATE COMMUNITY PROPERTY LAWS The terms and conditions of this Plan shall be applicable without regard to the community property laws of any state.

Appears in 4 contracts

Samples: 401(k) Profit Sharing Plan Adoption Agreement (Antigenics Inc /De/), Qualified Retirement Plan (Teardrop Golf Co), Basic Plan Document (Nabi /De/)

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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. SECTION TEN MISCELLANEOUS MISCELLANEOUS 10.01 STATE COMMUNITY PROPERTY LAWS The terms and conditions of this Plan shall be applicable without regard to the community property laws of any state.

Appears in 2 contracts

Samples: Qualified Retirement Plan and Trust (Bradford Funds Inc), Qualified Retirement Plan and Trust (Meritage Hospitality Group Inc /Mi/)

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