Common use of Tax Qualifications Clause in Contracts

Tax Qualifications. Each MAMP Benefit Plan that is intended to be tax qualified under Section 401(a) of the Code has received a favorable determination letter from the IRS as to its qualification status or is in the form of a prototype document that is the subject of a favorable opinion letter from the IRS, and each such determination remains in effect and has not been revoked. To MAMP’s Knowledge, no event, or failure to act, has occurred that could jeopardize the qualified status of any MAMP Benefit Plan or result in the imposition of any material liability, penalty, or Tax under ERISA or the Code or any other applicable Law.