Common use of Purchased Entities Qualified Plans Clause in Contracts

Purchased Entities Qualified Plans. (i) Each Purchased Entities Qualified Plan has received a favorable determination letter (or opinion letter) from the IRS providing that each such plan satisfies the requirements of Section 401(a) of the Code, and each trust under each such plan is exempt from Taxes under Section 501(a) of the Code. To the Knowledge of Seller, no event has occurred that will or would reasonably be expected to give rise to disqualification or loss of tax-exempt status of any such plan or trust under such sections.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Ascent Entertainment Group Inc)

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Purchased Entities Qualified Plans. (i) Each Purchased Entities Qualified Plan has received a favorable determination letter (or opinion letter) from the IRS Internal Revenue Service providing that each such plan satisfies the requirements of Section 401(a) of the Code, and each trust under each such plan is exempt from Taxes under Section 501(a) of the Code. To the Knowledge of Seller, no event has occurred that will or would reasonably be expected to give rise to disqualification or loss of tax-exempt status of any such plan or trust under such sections.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Ascent Entertainment Group Inc)

Purchased Entities Qualified Plans. (i1) Each Purchased Entities Qualified Plan has received a favorable determination letter (or opinion letter) from the IRS Internal Revenue Service providing that each such plan satisfies the requirements of Section 401(a) of the Code, and each trust under each such plan is exempt from Taxes under Section 501(a) of the Code. To the Knowledge of Seller, no event has occurred that will or would reasonably be expected to give rise to disqualification or loss of tax-tax- exempt status of any such plan or trust under such sections.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Ascent Entertainment Group Inc)

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Purchased Entities Qualified Plans. (i) Each Purchased Entities Entities' Qualified Plan has received a favorable determination letter (or opinion letter) from the IRS providing that each such plan satisfies the requirements of Section section 401(a) of the Code, and each trust under each such plan is exempt from Taxes under Section section 501(a) of the Code. To the Knowledge of Seller, no event has occurred that will will, or would reasonably be expected to to, give rise to disqualification or loss of tax-exempt status of any such plan or trust under such sections.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Ascent Entertainment Group Inc)

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