Common use of Necessity of Qualification Clause in Contracts

Necessity of Qualification. The Trust intends to qualify for favorable federal tax treatment under Code Section 529. You agree and acknowledge that qualification under Code Section 529 is vital and agree that the Trustee may amend this Participation Agreement upon a determination that such an amendment is required to maintain such qualification.

Necessity of Qualification. The Trust intends to qualify for favorable federal tax treatment under Internal Revenue Code Section 529. 529A. You agree and acknowledge that qualification under Code Section 529 529A is vital and agree that the Trustee may amend this Participation Agreement upon a determination that such an amendment is required to maintain such qualification.