Common use of Plan Qualification Clause in Contracts

Plan Qualification. The Company shall be responsible for verifying that while any assets of a particular Plans are held in the Master Trust, the Plans (i) is qualified within the meaning of section 401(a) of the Code; (ii) is permitted by existing or future rulings of the United States Treasury Department to pool its funds in a group trust; and (iii) permits its assets to be commingled for investment purposes with the assets of other such plans by investing such assets in this Master Trust. If any Plan ceases to be qualified within the meaning of section 401(a) of the Code, the Company shall notify the Master Trustee as promptly as is reasonable. Upon receipt of such notice, the Master Trustee shall promptly segregate and withdraw from the Master Trust, the assets which are allocable to such disqualified Plans, and shall dispose of such assets in the manner directed by the Company.

Plan Qualification. The Company shall be responsible for verifying that while any assets of a particular Plans Plan are held in the Master Trust, the Plans Plan (i) is qualified within the meaning of section 401(a) of the Code; (ii) is permitted by existing or future rulings of the United States Treasury Department to pool its funds in a group trust; and (iii) permits its assets to be commingled for investment purposes with the assets of other such plans by investing such assets in this Master Trust. If any Plan ceases to be qualified within the meaning of section 401(a) of the Code, the Company shall notify the Master Trustee as promptly as is reasonable. Upon receipt of such notice, the Master Trustee shall promptly segregate and withdraw from the Master Trust, Trust the assets which are allocable to such disqualified PlansPlan, and shall dispose of such assets in the manner directed by the Company.