Common use of Tax Qualification Clause in Contracts

Tax Qualification. The Internal Revenue Service has issued a favorable determination letter that each Terremark Benefit Plan intended to be qualified under Section 401(a) of the Code is so qualified, and, to the knowledge of Terremark, nothing has occurred since the date of the last such determination which resulted or is likely to result in the revocation of such determination.

Tax Qualification. The Internal Revenue Service has issued a favorable determination letter that each Terremark Company Benefit Plan intended to be qualified under Section 401(a) of the Code is so qualified, and, to the knowledge of Terremarkthe Company, nothing has occurred since the date of the last such determination which resulted or is likely to result in the revocation of such determination.