Common use of Qualification of Certain Plans Clause in Contracts

Qualification of Certain Plans. Each Plan that is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has timely received a favorable determination or opinion letter from the IRS covering all of the provisions applicable to the Seller Plan for which determination or opinion letters are currently available that the Seller Plan is so qualified and no fact or event has occurred since the date of such determination or opinion letter or letters from the IRS to adversely affect the qualified status of any such Seller Plan or the exempt status of any such trust.

Appears in 2 contracts

Samples: Purchase Agreement (King Pharmaceuticals Inc), Purchase Agreement (Ligand Pharmaceuticals Inc)

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Qualification of Certain Plans. Each Plan that which is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has timely received a favorable determination or opinion letter from the IRS covering all of the provisions applicable to the Seller Plan for which determination or opinion letters are currently available that the Seller Plan it is so qualified and and, to the knowledge of the Seller, no fact or event has occurred since the date of such determination or opinion letter or letters from the IRS to adversely affect the qualified status of any such Seller Plan (or the exempt status of any such trusttrust thereunder).

Appears in 1 contract

Samples: Asset Purchase Agreement (Qualcomm Inc/De)

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Qualification of Certain Plans. Each Plan that is intended to be qualified under Section 401(a) of the Code or Section 401(k) of the Code has timely received a favorable determination determination, opinion or opinion volume submitter approval letter from the IRS covering all that it is so qualified, and to the Knowledge of the provisions applicable to the Seller Plan for which determination or opinion letters are currently available that the Seller Plan is so qualified and no fact or event has occurred since the date of such determination determination, opinion or opinion approval letter or letters from the IRS to adversely affect the qualified status of any such Seller Plan or the exempt status of any such trust.

Appears in 1 contract

Samples: Assumption Agreement (Selective Insurance Group Inc)

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