Common use of APPROVAL BY INTERNAL REVENUE SERVICE Clause in Contracts

APPROVAL BY INTERNAL REVENUE SERVICE. This Plan is subject to obtaining initial approval by the Internal Revenue Service to establish its qualification under section 401(a) of the Code and its tax exemption under section 501(a) of the Code. CSTC reserves the right to amend the Plan to the extent necessary to initially qualify or maintain qualification of the Plan. If the internal Revenue Service fails to approve the qualification of the Plan, then the Plan will be treated as an individually designed plan by each Employer.

APPROVAL BY INTERNAL REVENUE SERVICE. This Plan is subject to obtaining initial approval by the Internal Revenue Service to establish its qualification under section 401(a) of the Code and its tax exemption under section 501(a) of the Code. CSTC reserves the right to amend the Plan to the extent necessary to initially qualify or maintain qualification of the Plan. If the internal Internal Revenue Service fails to approve the qualification of the Plan, then the Plan will be treated as an individually designed plan by each Employer.