Qualified Consent definition
Qualified Consent means an irrevocable written consent executed by the Participant’s spouse which acknowledges the effect of the consent and is witnessed by a Plan representative or a notary public. A Participant may, after obtaining a Qualified Consent, change his Beneficiary designation as permitted by Subsection 9.02(1) above, but any such change is subject to the requirements of this Subsection 9.02(2) and will require another Qualified Consent should the spouse, if surviving, not be the sole Beneficiary of all amounts in the Account. A Qualified Consent is effective only with respect to the spouse who executes it. If the Plan Administrator is satisfied that there is no spouse, or that the spouse cannot reasonably be located, or in such other circumstances as permitted by governmental regulations, no Qualified Consent shall be required as a condition to payment, under Section 9.01 hereof, to a Beneficiary who is not the surviving spouse.
Qualified Consent means, for any Holdback Client, a written consent of such Holdback Client to the assignment of each of the applicable Client Contract(s) associated with such Holdback Client to the applicable Purchaser, in form and substance reasonably satisfactory to the Purchasers (it being understood that a Qualified Consent shall be effective only with respect to Client Contract(s) that are or become in full force and effect as of the date of assignment to the applicable Purchaser); (v) “Qualified New Contract” shall mean, for any Holdback Client, a new contract between the applicable Purchaser, on the one hand, and such Holdback Client, on the other hand, for a scope of services of the Business that is substantially similar to (or greater than) the scope of services for such Holdback Client prior to the Closing Date, is for a minimum term of twelve (12) months from the date of such new contract and is otherwise in form and substance reasonably satisfactory to the Purchasers, but such new contract shall be deemed a “Qualified New Contract” if, and only if, (A) such new contract was not the result of a competitive bidding process (other than a competitive bidding process that the Companies establish was required by the Holdback Client primarily as a result of the transactions contemplated by this Agreement) and (B) the services of the Business provided to such Holdback Client have not been suspended, cancelled, terminated or otherwise materially and adversely altered by the Holdback Client at any time between the Closing Date and the execution and delivery of such new contract); and (vi) “Qualified Transfer” shall mean, for any Holdback Client, either (A) a Qualified Consent having been obtained and delivered to the Purchasers or (B) a Qualified New Contract having been executed and delivered by all applicable parties. A “Qualified New Contract” shall also be deemed to include, for any Holdback Client, an amendment or supplement to an existing contract between the applicable Purchaser, on the one hand, and such Holdback Client, on the other hand, which amendment or supplement expands the services provided under such existing contract to cover a scope of services of the Business that is substantially similar to (or greater than) the scope of services for such Holdback Client prior to the Closing Date and is otherwise in form and substance reasonably satisfactory to the Purchasers, but such amendment or supplement shall be deemed a “Qualified New Contract” if, and only if...
Qualified Consent means an irrevocable written consent executed by the Participant's spouse which acknowledges the effect of the consent and is witnessed by a Plan representative or a notary public. A Participant may, after obtaining a Qualified Consent, change his Beneficiary designation as permitted by SUBSECTION 9.02(1), but any such change is subject to the requirements of this SUBSECTION 9.02(2) and will require another Qualified Consent should the spouse, if surviving, not be the sole Beneficiary of all amounts in the Account, unless a Qualified Consent previously executed by such spouse expressly authorizes changes in the Beneficiary without further consent of the spouse. A Qualified Consent is effective only with respect to the spouse who executes it. If the Plan Administrator is satisfied that there is no spouse, or that the spouse cannot reasonably be located, or in such other circumstances as permitted by Treasury Regulations, no Qualified Consent shall be required as a condition to payment, under SECTION 9.01, to a Beneficiary who is not the surviving spouse.
Examples of Qualified Consent in a sentence
A Participant may, after obtaining a Qualified Consent, change his Beneficiary designation as permitted by Subsection 9.02(1) above, but any such change is subject to the requirements of this Subsection 9.02(2) and will require another Qualified Consent should the spouse, if surviving, not be the sole Beneficiary of all amounts in the Account.
If the Plan Administrator is satisfied that there is no spouse, or that the spouse cannot reasonably be located, or in such other circumstances as permitted by governmental regulations, no Qualified Consent shall be required as a condition to payment, under Section 9.01 hereof, to a Beneficiary who is not the surviving spouse.
The remaining 50% of the accumulated profits shall be carried forward to new account and be used as working capital of the Company, unless otherwise agreed by Qualified Consent of the Shareholders.
A Qualified Consent is effective only with respect to the spouse who executes it.
More Definitions of Qualified Consent
Qualified Consent. Means the consent or approval of each Principal Shareholder owning (together with any affiliates thereof) 20% or more of the issued and outstanding share capital of the Company. For that purpose, either Asia Sixth or Meridian may act through any Asia Sixth Nominee or Meridian Nominee elected as a director.
Qualified Consent means, with respect to a Company Contract set forth on S chedule 3.10, a written consent to and/or waiver of notice of the transactions contemplated by this Agreement, in form and substance substantially consistent with the template attached to S chedule 3 .10.
Qualified Consent. Subsection 9.02(2)
Qualified Consent for such client shall require that (A) the term of the Client Contracts associated with such client shall have been extended by at least twelve (12) months beyond the current applicable expiration date, (B) the scope of services of the Business under such Client Contracts shall be substantially similar to (or greater than) the scope of services for such client prior to the Closing Date and (C) a written consent of such client to the assignment of such Client Contracts (as modified in accordance with the foregoing clause (A)) to the applicable Purchaser, in each case, in form and substance reasonably satisfactory to the Purchasers shall have been obtained and delivered to the Purchasers (it being understood that such Client Contracts (as modified in accordance with the foregoing clause (A)) must be or become in full force and effect as of the date of assignment to the applicable Purchaser); and
Qualified Consent means, with respect to a Company Contract set forth on Schedule 3.10, a written consent to and/or waiver of notice of the transactions contemplated by this Agreement, in form and substance substantially consistent with the template attached to Schedule 3.10.