Examples of Disqualified Persons in a sentence
Additionally, fiduciaries of, and other Disqualified Persons with respect to, Qualified Plans and IRAs should be alert to the potential for prohibited transactions that may occur in the context of a particular Qualified Plan's or IRA's decision to purchase Units.
Disqualified Persons include fiduciaries of the Qualified Plan or IXX, officers, directors, shareholders and other owners of the company sponsoring the Qualified Plan and natural persons and legal entities sharing certain family or ownership relationships with other Disqualified Persons.
The parties to this Agreement hereby acknowledge and agree that the Administrative Agent shall not be deemed to be in default under this Agreement or to have any duty or responsibility or to incur any liabilities as a result of a breach of this Section 2.5(c), nor shall the Administrative Agent have any duty, responsibility or liability to monitor or enforce assignments, participations or other actions in respect of Disqualified Persons, or otherwise take (or omit to take) any action with respect thereto.
The Company shall have executed and delivered to New Enterprise Associates VI, Limited Partnership ("NEA VI") a Certificate as to Disqualified Persons, as requested by NEA VI, dated the Closing Date, in form and substance satisfactory to NEA VI.
Disqualified Persons own at least fifty percent (50%) of the number of shares of stock in the S Corporation.