Qualified Status. Except as disclosed in (S) 3(w)(vii) of the Disclosure Schedule, each Company Benefit Plan that is funded through a trust or insurance contract has at all times satisfied in all material respects, by its terms and in its operation, all applicable requirements for an exemption from federal income taxation under (S) 501(a) of the Code. Except as disclosed in (S) 3(w)(vii) of the Disclosure Schedule, neither the Company, nor any Company Subsidiary, nor any Company ERISA Affiliate maintains or previously maintained a Company Benefit Plan which meets or was intended to meet the requirements of (S) 401(a) of the Code (collectively, "Company Qualified Plans"). Each determination letter issued by the IRS to the effect that a Company Qualified Plan qualifies under (S) 401(a) of the Code and that the related trust is exempt from taxation under (S) 501(a) of the Code remains in effect and has not been revoked. Each Company Qualified Plan currently complies in form with the requirements under (S) 401(a) of the Code, other than changes required by statutes, regulations and rulings for which amendments are not yet required. Each Company Qualified Plan has been administered according to its terms (except for those terms which are inconsistent with the changes required by statutes, regulations, and rulings for which changes are not yet required to be made, in which case the Company Qualified Plan has been administered in accordance with the provisions of those statutes, regulations and rulings) and in accordance with the requirements of (S) 401(a) of the Code. Each Company Qualified Plan containing a cash or deferred arrangement under (S) 401(k) of the Code or pursuant to which matching or employee contributions are permissible has been tested for compliance with, and has satisfied the requirements of, (S)(S) 401(k)(3) and 401(m)(2) of the Code for each plan year ending prior to the Closing Date.
Qualified Status. Each Benefit Plan that is funded through a trust or insurance contract and is intended to satisfy the requirements of Section 401(a) of the Code, has at all times satisfied in all material respects, by its terms and to the best knowledge of the Stockholders in its operation, all applicable requirements under Section 401(a) and related sections of the Code, and any such trust has been and, at the Closing Date, shall be exempt from federal income taxation under Section 501(a) of the Code. All such plans have been operated to the best knowledge of the Stockholders in all material respects in accordance with the applicable requirements of the Tax Reform Act of 1986 and subsequent applicable legislation.
Qualified Status. Each Current Benefit Plan intended to be qualified under Code Section 401 (i) satisfies in form the requirements of such Section, (ii) is a standardized prototype which does not require an individual favorable determination letter from the IRS, (iii) has not, since adoption of the prototype, been amended and (iv) has not been operated in a way that would adversely affect its qualified status.
Qualified Status. Each Current Benefit Plan intended to be qualified under Code Section 401 (i) satisfies in form the requirements of such Section, (ii) has received a favorable determination letter from the IRS regarding such qualified status, (iii) except as set forth in Section 5.13(c)(iii) of the Acquiror's Disclosure Letter, has not, since receipt of the most recent favorable determination letter, been amended and (iv) has not been operated in a way that would adversely affect its qualified status.
Qualified Status. Notwithstanding anything to the contrary, the aggregate Fair Market Value (determined as of the date of grant) of the Option Shares with respect to which Incentive Stock Options are exercisable for the first time by the Employee during any calendar year under all stock option plans of the Company may not exceed One Hundred Thousand Dollars ($100,000). If the aggregate Fair Market Value of the Option Shares exceeds $100,000, then the Option shall, to the extent and in the order required by the Regulations (or any other authority having the force of Regulations), automatically be deemed to be Non-Qualified Stock Options, but all other terms and provisions of the Option shall remain unchanged. In the absence of such Regulations (or authority), or in the event such Regulations (or authority) require or permit a designation of the Option which shall cease to constitute Incentive Stock Options, then the Option shall, to the extent of such excess and in the order in which they were granted, automatically be deemed to be Non-Qualified Stock Options, but all other terms and provisions of the Option shall remain unchanged.
Qualified Status. The Option is a nonqualified stock option and is not intended to qualify as an incentive stock option under Section 422 of the Internal Revenue Code of 1986, as amended.
Qualified Status. This Policy is not intended to be a federally tax qualified Long Term Care Insurance contract under Section 7702B(b) of the Internal Revenue Code of 1986, as amended. Benefits received under the Policy may be taxable as income. Guaranteed Renewable For Life This Policy is Guaranteed Renewable for your lifetime as long as its benefits have not been exhausted. We can only cancel this Policy if you stop paying the required premiums or there are no longer any benefits available under the Policy. As long as there are benefits still available under this Policy, you have the right to keep it in force for as long as you live. You can do this by paying the premiums when they are due. (Payment of the renewal premium will not restore or replenish the benefits available under this Policy.) Premiums Subject To Change The premiums of this Policy can never be changed because your age has changed or because of a change in your individual health. We can change the premiums for this Policy if we change them for everyone that bought this Policy in the same state yours was purchased. A change in premiums would first have to be filed with the state’s Commissioner of Insurance. Notice of any such change in premiums will be sent at least 45 days in advance of the new premium becoming payable.
Qualified Status. Each IFM Benefit Plan that is an employee benefit plan (within the meaning of Section 3(2) of ERISA) that is funded through a trust or insurance contract or is a welfare benefit plan (within the meaning of Section 3(1) of ERISA) funded through a trust has at all times satisfied in all material respects, by its terms and in its operation, all applicable requirements for an exemption from federal income taxation under Section 501(a) of the Code. Neither IFM nor any IFM ERISA Affiliate maintains or has previously maintained a IFM Benefit Plan which meets or was intended to meet the requirements of Section 401(a) of the Code except as disclosed on Schedule 4.15.
Qualified Status. Each Company Benefit Plan that is intended to be qualified under Section 401(a) of the Code, and related trust that is intended to be tax-exempt under Section 501(a) of the Code, has received a favorable determination letter from the Internal Revenue Service to the effect that such plan is qualified under the Code and such trust is tax-exempt ("Qualified Company Benefit Plan"). Any such determination letter remains in effect and has not been revoked, and no amendment to such Qualified Company Benefit Plans have been made since the effective date of such determination letter which adversely affects the tax-qualified status of such plan and related trust. Each such Qualified Company Benefit Plan currently complies in form with the requirements under Section 401(a) of the Code, other than changes required by statutes, regulations, and rulings for which amendments are not yet required. Each such Qualified Company Benefit Plan has been administered according to its terms (except for those terms which are inconsistent with the changes required by statutes, regulations, and ruling for which changes are not yet required to be made, in which case such plans have been administered in accordance with the provisions of those statutes, regulations, and rulings) and in accordance with the requirements of Section 401(a) of the Code.
Qualified Status. Each Stepxx Xxxefit Plan that is an employee benefit plan (within the meaning of Section 3(2) of ERISA) that is funded through a trust or insurance contract or is a welfare benefit plan (within the meaning of Section 3(1) of ERISA) funded through a trust has at all times satisfied in all material respects, by its terms and in its operation, all applicable requirements for an exemption from federal income taxation under Section 501(a) of the Code. Neither Stepxx xx any Stepxx XXXSA Affiliate maintains or has previously maintained a Stepxx Xxxefit Plan which meets or was intended to meet the requirements of Section 401(a) of the Code.
