Common use of Qualification of Certain Plans Clause in Contracts

Qualification of Certain Plans. Each Plan which is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has received a favorable determination letter from the IRS that it is so qualified, and each trust established in connection with any Plan which is intended to be exempt from federal income taxation under Section 501(a) of the Code has received a determination letter from the IRS that it is so exempt, and, to the best of the Seller's knowledge, no fact or event has occurred since the date of such determination letter from the IRS to adversely affect the qualified status of any such Plan or the exempt status of any such trust. Each trust maintained or contributed to by the Seller or any Subsidiary which is intended to be qualified as a voluntary employees' beneficiary association and which is intended to be exempt from federal income taxation under Section 501(c)(9) of the Code has received a favorable determination letter from the IRS that it is so qualified and so exempt, and, to the best of the Seller's knowledge, no fact or event has occurred since the date of such determination by the IRS to adversely affect such qualified or exempt status.

Appears in 2 contracts

Samples: Investment Agreement (Mayors Jewelers Inc/De), Investment Agreement (Henry Birks & Sons Inc)

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Qualification of Certain Plans. Each Plan which that is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has received a favorable determination letter from the IRS that it is so qualified, and each trust established in connection with any Plan which that is intended to be exempt from federal income taxation under Section 501(a) of the Code has received a determination letter from the IRS that it is so exempt, and, to the best knowledge of the Seller's knowledge, no fact or event has occurred since the date of such determination letter from the IRS to adversely affect the qualified status of any such Plan or the exempt status of any such trust. Each trust maintained or contributed to by the Seller or any Subsidiary which of its ERISA Affiliates that is intended to be qualified as a voluntary employees' ’ beneficiary association and which that is intended to be exempt from federal income taxation under Section 501(c)(9) of the Code has received a favorable determination letter from the IRS that it is so qualified and so exempt, and, to the best knowledge of the Seller's knowledge, no fact or event has occurred since the date of such determination by the IRS to adversely affect such qualified or exempt status.

Appears in 2 contracts

Samples: Asset Purchase Agreement (Utstarcom Inc), Asset Purchase Agreement (Utstarcom Inc)

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Qualification of Certain Plans. Each Plan which that is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has received a favorable determination letter from the IRS that it is so qualified, and each trust established in connection with any Plan which that is intended to be exempt from federal income taxation under Section 501(a) of the Code has received a determination letter from the IRS that it is so exempt, and, to the best knowledge of the Seller's knowledge, no fact or event has occurred since the date of such determination letter from the IRS to adversely affect the qualified status of any such Plan or the exempt status of any such trust. Each trust maintained or contributed to by the Seller or any Subsidiary which of its ERISA Affiliates that is intended to be qualified as a voluntary employees' beneficiary association and which that is intended to be exempt from federal income taxation under Section 501(c)(9) of the Code has received a favorable determination letter from the IRS that it is so qualified and so exempt, and, to the best knowledge of the Seller's knowledge, no fact or event has occurred since the date of such determination by the IRS to adversely affect such qualified or exempt status.

Appears in 1 contract

Samples: Asset Purchase Agreement (Audiovox Corp)

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