Qualification of Plans. A favorable determination as to the qualification under Section 401(a) of the Tax Code has been made by the Internal Revenue Service with respect to each Plan intended to be qualified under Section 401(a) of the Tax Code and, to the best knowledge of each of the Consolidated Companies, nothing has occurred since the date of such determination that could adversely affect such qualification.
Qualification of Plans. The New Grace Group shall be responsible for all Liabilities incurred by the Packco Group as a result of the failure of any of the Hourly Non-Union Retirement Plan, the Union Retirement Plan, the Hourly SIP, the Salaried SIP, the Cypress 401(k) Plans or the Schurpack 401(k) Plan to be qualified under Section 401(a) of the Code on or before the date assets are transferred from such Plan to a Packco Benefit Plan, or the date sponsorship of such Plan is assumed by any member of the Packco Group, as applicable. The Packco Group shall be responsible for all Liabilities incurred by the New Grace Group as a result of the failure of the Packco Hourly Non-Union Retirement Plan or any Packco Savings Plan to be qualified under Section 401(a) of the Code on or before the date assets are transferred to such Plan from a New Grace Benefit Plan. The parties hereto agree that to the extent any of them becomes aware that any such Plan fails or may fail to be so qualified, it shall notify the other parties and the parties shall cooperate and use best efforts to avoid such disqualification, including using the Internal Revenue Service's Voluntary Compliance Resolution program or similar programs, and taking any steps available pursuant to such program to avoid disqualification, as determined by the party who is made responsible under this Section 4.03 for the Liabilities that would result from such disqualification (and the Liabilities for which such party is responsible shall include all costs and expenses resulting from such steps, including fines, penalties, contributions, attorneys' fees and expenses and administrative expenses).
Qualification of Plans. Each Plan that is intended to be qualified under Section 401(a) of the Code has received a favorable determination letter from the IRS after 1985 providing that it is so qualified and each trust established in connection with any Plan 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 after 1985 providing that it is so exempt and no fact or event has occurred since the date of such determination letter that could adversely effect the qualified status of any such Plan or the exempt status of any such trust. None of the Plans is subject to the laws of any jurisdiction outside of the United States.
Qualification of Plans. Except as provided on Schedule 5.18(i), each plan which is listed in Schedule 5.18(i) attached hereto, and which is intended to be qualified under section 401(a) of the Code, has been determined by the Internal Revenue Service in writing to be so qualified. To the best knowledge of the Co-Borrowers, since the Internal Revenue Service issued its determination with respect to any such plan, there has been no occurrence (including, without limitation, a plan amendment, the enactment of legislation or the adoption of regulations) that could cause such plan not to be so qualified. Within the applicable remedial amendment period described in the regulations under section 401(b) of the Code, an application for such a determination was or will be filed with the Internal Revenue Service with respect to each amendment to any such plan for which a failure to do so could reasonably be expected to have a Material Adverse Effect. Each such plan has in all material respects been administered in accordance with its 61 terms and the applicable provisions of ERISA and the Code and the regulations thereunder.
Qualification of Plans. Each employee pension ---------------------- benefit plan (as defined in Section 3(2) of ERISA) which is listed in Schedule 5.13 attached hereto and which is neither an excess benefit plan (as defined in Section 3(36) of ERISA) nor a plan exempted under Section 4(b) or 201(2) of ERISA, meets all requirements for qualification under Section 401(a) of the Code and the regulations thereunder, except to the extent that such requirements may be satisfied by adopting retroactive amendments under Section 401 (b) of the Code and the regulations thereunder, under Section 1140 of the Tax Reform Act of 1986, or any other statute, regulation, administrative notice, procedure or other authority. Each plan described in the preceding sentence is the subject of a determination letter which was issued by the Internal Revenue Service and which states that such plan meets such requirements. Each such plan has in all material respects been administered in accordance with its terms and the applicable provisions of ERISA and the Code and the regulations thereunder.
Qualification of Plans. Each Employee 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 of the Internal Revenue Service (the “IRS”) that it is so qualified and each trust established in connection with any Employee Plan which is intended to be exempt from federal income taxation under Section 501(a) of the Code has received a favorable determination letter from the IRS that it is so exempt, and to the best of Company’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 Employee Plan or the exempt status of any such trust.
Qualification of Plans. Except as provided on SCHEDULE 6.18(i), each plan which is listed in SCHEDULE 6.18(i) attached hereto, and which is intended to be qualified under Section 401(a) of the Code, has been determined by the Internal Revenue Service in writing to be so qualified or, for amendments not related to TRA 86, such application has been submitted and not yet denied. To the best knowledge of the Borrower, since the Internal Revenue Service issued its determination with respect to any such plan (or, with respect to pending applications, since the date such application was submitted) there has been no occurrence (including, without limitation, a plan amendment, the enactment of legislation or the adoption of regulations) that could cause such plan not to be so qualified. Within the applicable remedial amendment period described in the regulations under Section 401(b) of the Code, an application for such a determination was or will be filed with the Internal Revenue Service with respect to each amendment to any such plan for which a failure to do so could reasonably be expected to have a Material Adverse Effect. Each such plan has in all material respects been administered in accordance with its terms and the applicable provisions of ERISA and the Code and the regulations thereunder.
Qualification of Plans. Each Employee Benefit Plan of Marathon and any ERISA Affiliate of Marathon that is intended to be qualified under Section 401(a) and (if applicable) Section 401(k) of the Code, and each trust (if any) forming a part thereof, has received a favorable determination letter from the Internal Revenue Service as to the qualification under Section 401(a) and (if applicable) 401(k) of the Code of such Employee Benefit Plan and the tax-exempt status of such related trust, and nothing has occurred since the date of such determination letter that could reasonably be expected (on a substantial compliance basis) to adversely affect the qualification of such Employee Benefit Plan or the tax-exempt status of such related trust.
Qualification of Plans. Each Employee Benefit Plan of Ashland and any ERISA Affiliate of Ashland that is intended to be qualified under Section 401(a) and (if applicable) Section 401(k) of the Code, and each trust (if any) forming a part thereof, has received a favorable determination letter from the Internal Revenue Service as to the qualification under Section 401(a) and (if applicable) 401(k) of the Code of such Employee Benefit Plan and the tax-exempt status of such related trust, and nothing has occurred since the date of such determination letter that could reasonably be expected (on a substantial compliance basis) to adversely affect the qualification of such Employee Benefit Plan or the tax-exempt status of such related trust.
Qualification of Plans. We assume no responsibility for ensuring that the Plan remains a Qualified Plan or meets any of the requirements of the Code or ERISA. While we will undertake those duties described in this contract or in the service agreement in a manner which should help you to meet the requirements of the Code and ERISA, you agree and acknowledge that we do not have final responsibility for making sure that you take all appropriate steps needed to keep the Plan in compliance with the Code and ERISA. Notwithstanding any other provision in this contract or in any other agreement between you and us, if the Internal Revenue Service or a court makes a final determination that the Plan no longer qualifies as a Qualified Plan, we may require that you transfer all assets invested in this contract to another Funding Agent. If we decide that you must transfer assets from this contract, we will send you a written notice describing you options. If we do not receive an acceptable response Notice from you within five Business Days, we will return the money held under this contract to you, or if appropriate, to a Plan trustee. We will not accept any Notice under this Section unless the Notice dearly specifies the Funding Agent to receive the assets.
