Common use of Tax Qualified Status Clause in Contracts

Tax Qualified Status. NCTI or another member of the New News Corporation Group shall be solely responsible for taking all necessary, reasonable, and appropriate actions (including the submission of the NCTI DC Plans to the Internal Revenue Service for a determination of tax-qualified status) to establish, maintain and administer the NCTI DC Plans so that they are qualified under Code Section 401(a) and the related trust(s) thereunder is exempt under Code Section 501(a).

Tax Qualified Status. NCTI or another member of the New News Corporation Group shall be solely responsible for taking all necessary, reasonable, and appropriate actions (including the submission of the NCTI DC Plans DB Plan to the Internal Revenue Service for a determination of tax-qualified status) to establish, maintain and administer the NCTI DC Plans DB Plan so that they are it is qualified under Code Section 401(a) and that the related trust(s) trust thereunder is exempt under Code Section 501(a).