Common use of Plan Qualification Clause in Contracts

Plan Qualification. Any plan of the Borrower or an ERISA Affiliate that is intended to have qualification under section 401(a) of the Code loses such qualification, if the loss of such qualification can reasonably be expected to impose on the Borrower or any ERISA Affiliate liabilities (for additional taxes, to plan participants or otherwise) in the aggregate amount of one million dollars ($1,000,000) or more.