Continued Qualification Clause Samples
The Continued Qualification clause requires a party to maintain certain standards, certifications, or eligibility criteria throughout the duration of an agreement. In practice, this means that if a vendor must hold a specific license or meet regulatory requirements at the start of a contract, they must continue to do so for the entire term. This clause ensures that the party remains qualified to perform its obligations, thereby protecting the other party from risks associated with lapses in qualification or compliance.
Continued Qualification. Members awarded Senior Officer status are responsible for keeping themselves qualified. Unsatisfactory performance or other lack of qualification may cause the member to lose the Senior Officer status and the corresponding 2% incentive pay.
Continued Qualification. Sponsor alone shall be responsible to maintain the Plan as a qualified Plan of deferred compensation pursuant to applicable Federal law.
Continued Qualification. Prior to the earlier of the Closing Date or the termination of this Agreement, the Company shall use commercially reasonable efforts to ensure that no Registered Fund takes any action that (a) would prevent any Registered Fund from qualifying as a "regulated investment company" under Section 851 of the Code, or (b) would be inconsistent with each Registered Fund's prospectuses and other offering, advertising and marketing materials, as amended or supplemented.
Continued Qualification. Pilgrim shall use its reasonable best efforts ----------------------- to ensure that no Registrant takes any action that (a) would prevent any Pilgrim Fund from qualifying as a "regulated investment company" under Section 851 of the Code or (b) would be inconsistent with each Pilgrim Fund's prospectus and other offering, advertising, and marketing materials.
Continued Qualification. 46 ARTICLE VII
Continued Qualification. Lexington shall use its reasonable best efforts to ensure that no Registrant takes any action that (a) would prevent any Lexington Fund from qualifying as a "regulated investment company" under Section 851 of the Code or (b) would be inconsistent with each Lexington Fund's prospectus and other offering, advertising, and marketing materials.
Continued Qualification. This Agreement shall be deemed to be amended, as necessary, to ensure continued qualification of the Annuity Fund under Section 501(a) of the Internal Revenue Code of 1986, as amended (the “Code”) and of the I.A.T.S.E. Annuity Plan under Section 401(a) of the Code.
Continued Qualification. The Borrower will at all times operate in a manner resulting in the Plan's continued qualification under Sections 401(a) and 4975(e)(7) of the Code.