Common use of Deficiencies; Qualification Clause in Contracts

Deficiencies; Qualification. None of the Plans nor any trust created thereunder has incurred any “accumulated funding deficiency” as such term is defined in Section 412 of the Internal Revenue Code, whether or not waived, since the effective date of said Section 412, and no condition has occurred or exists that by the passage of time could be expected to result in an accumulated funding deficiency as of the last day of the current plan year of any such Plan. Neither the Company, nor any of its Subsidiaries has any unfunded liability under Title IV of ERISA in respect of any of the Plans. Each of the Plans that is intended to be a qualified plan under Section 401(a) of the Internal Revenue Code has received a favorable determination letter, opinion, notification or advisory letter from the Internal Revenue Service, and has been operated in accordance with its terms and with the provisions of the Internal Revenue Code in all material respects. All of the Plans have been administered and maintained in compliance with ERISA, the Internal Revenue Code and all other applicable Laws in all material respects. All contributions required to be made to each of the Plans under the terms of that Plan, ERISA, the Internal Revenue Code or any other applicable Laws have been timely made. There are no Liens against the property of the Company, any of its Subsidiaries or any of their respective ERISA Affiliates under Section 412(n) of the Internal Revenue Code or Section 302(f) or 4068 of ERISA.

Deficiencies; Qualification. None of the Plans nor any trust created thereunder has incurred any “"accumulated funding deficiency” " as such term is defined in Section 412 of the Internal Revenue Code, whether or not waived, since the effective date of said Section 412, and no condition has occurred or exists that which by the passage of time could be expected to result in an accumulated funding deficiency as of the last day of the current plan year of any such Plan. Neither Furthermore, neither the Company, any Subsidiary nor any of its Subsidiaries their respective ERISA Affiliates has any unfunded liability under Title IV of ERISA in respect of any of the Plans. Each of the Plans that which is intended to be a qualified plan under Section 401(a) of the Internal Revenue Code has received a favorable determination letter, opinion, notification or advisory letter from the Internal Revenue Service, and has been operated in accordance with its terms and with the provisions of the Internal Revenue Code in all material respectsCode. All of the Plans have been administered and maintained in substantial compliance with ERISA, the Internal Revenue Code and all other applicable Laws in all material respectsLaws. All contributions required to be made to each of the Plans under the terms of that Plan, ERISA, the Internal Revenue Code or any other applicable Laws have been timely made. Each Plan intended to meet the requirements for tax-favored treatment under Subchapter B of Chapter 1 of the Internal Revenue Code is in compliance with such requirements. There are no Liens against the property of the Company, any of its Subsidiaries Subsidiary or any of their respective ERISA Affiliates under Section 412(n) of the Internal Revenue Code or Section Sections 302(f) or 4068 of ERISA. The Financial Statements properly reflect all amounts required to be accrued as liabilities to date under each of the Plans.