Applies Only If Clause Samples
The "Applies Only If" clause defines the specific conditions or circumstances under which certain terms or provisions of an agreement become effective. In practice, this clause limits the scope of obligations or rights, making them operative only when a particular event occurs or a set of criteria is met—for example, a warranty might apply only if the product is used according to instructions. Its core function is to ensure clarity and precision in contractual obligations, preventing misunderstandings by clearly outlining when certain parts of the contract are relevant.
Applies Only If. “C” Above
A) Each Client Plan and the administration of each such plan does and will be maintained in a manner to satisfy all applicable legal requirements, including, but not limited to the Code and ERISA at all times during the term of the Agreement and this Exhibit. Further, Client acknowledges that it is solely responsible for imposing and monitoring any legally required benefit limitations for its Client Plan including any necessary changes to deduction authorization forms previously submitted to Administaff, for determining Client Plan eligibility and all employer contributions, and for performing non-discrimination, top heavy and other testing. Except as provided under Section 3.1(b) of the Agreement, Client shall be solely responsible for all aspects of the qualified ▇▇▇▇ contribution program under each Client Plan (including, without limitation, compliance with (and monitoring of) applicable contribution limits, administration, reporting, recordkeeping and disclosure).
B) All Staff enrolled at any time are eligible to participate in such Client Plan and, if making contributions, are eligible to do so under the terms of said plan and Code Section 401(a).
C) Client will promptly notify Administaff of any failure of any Client Plan to satisfy all legal requirements under all applicable statutes including, but not limited to, the Code and ERISA, and will notify Administaff promptly of a determination that any Staff is ineligible to participate in the Client sponsored benefit plan.
D) Client acknowledges and agrees that Administaff assumes no fiduciary authority and exercises no fiduciary control with respect to any Client Plan or the assets thereof.