Common use of OPERATIONAL COMPLIANCE Clause in Contracts

OPERATIONAL COMPLIANCE. Each Benefit Plan has been administered in all material respects in accordance with its terms and all Applicable Laws, and, except as set forth in SCHEDULE 3.10, each Benefit Plan intended to be qualified under Section 401(a) of the Code is so qualified and is, as most recently amended, the subject of a favorable determination letter as to its qualification. No event has occurred and no condition or set of circumstances exists in connection with which the Company or any Subsidiary could be directly or indirectly subject to any Encumbrance or loss of Tax deduction under ERISA or the Code or under any agreement, instrument, statute, rule of law or regulations pursuant to or under which the Company or any Subsidiary has indemnified or is required to indemnify any Person against any such liability (except liability for benefit claims and funding obligations payable in the ordinary course).