Continued Qualification Clause Samples

The Continued Qualification clause requires a party to maintain certain standards, certifications, or eligibility criteria throughout the duration of an agreement. In practice, this means that if a vendor must hold a specific license or meet regulatory requirements at the start of a contract, they must continue to do so for the entire term. This clause ensures that the party remains qualified to perform its obligations, thereby protecting the other party from risks associated with lapses in qualification or compliance.
Continued Qualification. Members awarded Senior Officer status are responsible for keeping themselves qualified. Unsatisfactory performance or other lack of qualification may cause the member to lose the Senior Officer status and the corresponding 2% incentive pay.
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Continued Qualification. Sponsor alone shall be responsible to maintain the Plan as a qualified Plan of deferred compensation pursuant to applicable Federal law.
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Continued Qualification. Prior to the earlier of the Closing Date or the termination of this Agreement, the Company shall use commercially reasonable efforts to ensure that no Registered Fund takes any action that (a) would prevent any Registered Fund from qualifying as a "regulated investment company" under Section 851 of the Code, or (b) would be inconsistent with each Registered Fund's prospectuses and other offering, advertising and marketing materials, as amended or supplemented.
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Continued Qualification. Pilgrim shall use its reasonable best efforts ----------------------- to ensure that no Registrant takes any action that (a) would prevent any Pilgrim Fund from qualifying as a "regulated investment company" under Section 851 of the Code or (b) would be inconsistent with each Pilgrim Fund's prospectus and other offering, advertising, and marketing materials.
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Continued Qualification. 46 ARTICLE VII
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Continued Qualification. Lexington shall use its reasonable best efforts to ensure that no Registrant takes any action that (a) would prevent any Lexington Fund from qualifying as a "regulated investment company" under Section 851 of the Code or (b) would be inconsistent with each Lexington Fund's prospectus and other offering, advertising, and marketing materials.
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Continued Qualification. This Agreement shall be deemed to be amended, as necessary, to ensure continued qualification of the Annuity Fund under Section 501(a) of the Internal Revenue Code of 1986, as amended (the “Code”) and of the I.A.T.S.E. Annuity Plan under Section 401(a) of the Code.
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Continued Qualification. The Borrower will at all times operate in a manner resulting in the Plan's continued qualification under Sections 401(a) and 4975(e)(7) of the Code.
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Related to Continued Qualification

  • Required Qualifications At all times during the term of the Contract, Vendor shall have available, under direct employment and supervision and/or subcontract agreement fully incorporating the terms and conditions of the Contract Documents, the required qualified and properly licensed (as applicable) personnel to properly fulfill all the terms and conditions of the Contract.

  • Existence and Qualification The Contracting Party is an Oklahoma municipality, validly existing and in good standing under the laws of the State of Oklahoma, and the Contracting Party has all requisite power and authority to own, operate and lease its properties and to carry on its business as presently conducted.

  • Formation and Qualification (a) Each Borrower is duly incorporated and in good standing under the laws of the state listed on Schedule 5.2(a) and is qualified to do business and is in good standing in the states listed on Schedule 5.2(a) which constitute all states in which qualification and good standing are necessary for such Borrower to conduct its business and own its property and where the failure to so qualify could reasonably be expected to have a Material Adverse Effect on such Borrower. Each Borrower has delivered to Agent true and complete copies of its certificate of incorporation and by-laws and will promptly notify Agent of any amendment or changes thereto. (b) The only Subsidiaries of each Borrower are listed on Schedule 5.2(b).

  • Existence, Qualification and Power Each Loan Party and each Subsidiary thereof (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect.

  • Due Organization and Qualification Borrower and each Subsidiary is a corporation duly existing and in good standing under the laws of its state of incorporation and qualified and licensed to do business in, and is in good standing in, any state in which the conduct of its business or its ownership of property requires that it be so qualified.