Failure to Maintain Qualification Clause Samples
Failure to Maintain Qualification. If the Trust fails to qualify as a qualified trust under section 401(a) of the Code, or loses its status as such a qualified trust, the Employer shall immediately so notify the Trustee, and the Trustee shall, without further notice or direction, remove the Trust assets from any common or collective trust fund maintained by the Trustee or its affiliate for investments by qualified trusts.
Failure to Maintain Qualification. If the Plan and Trust fail _________________________________ to qualify or the Plan loses it status as a Qualified Plan, the Trustee may, without notice or direction, remove the trust fund assets from any common or collective trust fund or pooled investment fund maintained by the Trustee for investments by Qualified Plans.
Failure to Maintain Qualification. 14 ARTICLE XI MISCELLANEOUS..................................... 14 11.01
Failure to Maintain Qualification. If the Plan fails to qualify as a qualified plan under section 401(a) of the Code, or loses its status as such a qualified plan, the Sponsor shall immediately so notify the Trustee, and the Trustee shall, without further notice or direction, remove the Trust assets from any common or collective trust fund for investments by qualified trusts. Absent receipt by the Trustee of a direction from the proper person(s) for the investment of such removed assets, the Trustee shall cause such removed assets to be invested in accordance with Section 4.05.