Failure to Qualify Sample Clauses

Failure to Qualify. The term failure to qualify shall mean: (a) Failure to receive a recommendation for a flight test after completion of the full training program; or (b) Failure of the actual flight test after receiving said training and recommendation; or (c) Failure to successfully complete line indoctrination; or (d) Failure to pass an initial or recurrent ground training requirements. The trainee is entitled to complete all scheduled and required training, and may not be “washed out” prior to the end of the full training program. However in cases where the candidate demonstrates a lack of required knowledge due to a lack of preparation, the Company may terminate training prior to the full program being completed. In such cases, the Company will advise the candidate in writing of their concerns, and allow him an additional training session prior to the termination of his training.

Failure to Qualify. If we discover a violation of a provision of the Code that would result in our failure to qualify as a REIT, certain specified cure provisions may be available to us. Except with respect to violations of the gross income tests and asset tests (for which the cure provisions are described above), and provided the violation is due to reasonable cause and not due to willful neglect, these cure provisions generally impose a $50,000 penalty for each violation in lieu of a loss of REIT status. If we fail to satisfy the requirements for taxation as a REIT in any taxable year, and the relief provisions do not apply, we will be required to pay regular U.S. federal corporate income tax, including any applicable alternative minimum tax, on our taxable income. Distributions to stockholders in any year in which we fail to qualify as a REIT will not be deductible by us. As a result, we anticipate that our failure to qualify as a REIT would reduce the cash available for distribution by us to our stockholders. In addition, if we fail to qualify as a REIT, we will not be required to distribute any amounts to our stockholders and all distributions to stockholders will be taxable as regular corporate dividends to the extent of our current and accumulated earnings and profits. In such event, corporate stockholders may be eligible for the dividends- received deduction. In addition, non-corporate stockholders, including individuals, may be eligible for the preferential tax rates on qualified dividend income. Non-corporate stockholders, including individuals, generally may deduct up to 20% of dividends from a REIT, other than capital gain dividends and dividends treated as qualified dividend income, for taxable years beginning before January 1, 2026 for purposes of determining their U.S. federal income tax (but not for purposes of the 3.8% Medicare tax), subject to certain holding period requirements and other limitations. If we fail to qualify as a REIT, such stockholders may not claim this deduction with respect to dividends paid by us. Unless entitled to relief under specific statutory provisions, we would also be ineligible to elect to be treated as a REIT for the four taxable years following the year for which we lose our qualification. It is not possible to state whether in all circumstances we would be entitled to this statutory relief. General. All of our investments are held indirectly through our operating partnership. In addition, our operating partnership holds certai...

Failure to Qualify. Notwithstanding anything in this Plan to the contrary, all contributions under the Plan made prior to the receipt by the Employer of a determination by the Internal Revenue Service to the effect that the Plan is qualified under Code Section 401 shall be made on the express condition that such a determination will be received, and in the event that the Internal Revenue Service determines upon initial application for a determination that the Plan is not so qualified or tax exempt, all contributions made by the Employer or Participants prior to the date of determination must be returned within one (1) year from the date of such determination, but only if the application for qualification is made by the time prescribed by law for filing the Employer's return for the taxable year in which the Plan is adopted or such later date as the Secretary of the Treasury may prescribe.

Failure to Qualify. (a) Non-Qualification - Subscriber understands that if the CEG determines at any time that Subscriber does not qualify as a Non-Professional subscriber, Subscriber may continue to receive Market Data only after entering into one or more appropriate agreements with the CEG. The CEG may deny Subscriber the opportunity to enter into such agreement(s) if Subscriber’s failure to qualify results from willful misrepresentations or omissions or from willful breach of the CEG NPAA. (b) Retroactive Payment - In the event that a determination of non-qualification is based upon a misrepresentation made herein by Subscriber, or a failure by Subscriber to update information provided to the CEG, the CEG may notify Subscriber in writing (i) of such determination, (ii) of the period, as determined by the CEG, during which Subscriber received Market Data but did not qualify as a Non-Professional Subscriber and (iii) of the amount, calculated at the CEG’s then-current Professional Subscriber rates, applicable to such period. Within thirty (30) days of receipt of such notice, Subscriber shall pay such amount to the CEG.

Failure to Qualify. A Crewmember awarded a bid pursuant to this Subsection who fails to qualify as a Pilot may return to his previous position on the Flight Engineers' Seniority List provided the Crewmember can qualify for such position.

Failure to Qualify. To the extent the Option should fail to qualify as an ISO under the federal tax laws, Optionee will recognize compensation income in connection with the acquisition of one or more Option Shares upon exercise of the Option, and Optionee must make appropriate arrangements for the satisfaction of all federal, state or local income tax withholding requirements and federal social security employee tax requirements applicable to such compensation income.

Failure to Qualify. You fail to meet and maintain the requirements and obligations set out in this Agreement, and without limiting the generality of the foregoing, including specifically the obligations set out in section 3 of these Salvage Buying Terms.

Failure to Qualify. It is agreed that the Company will extend unqualified Train Operators every opportunity to successfully complete their training and become fully qualified Train Operators in GO commuter train service.

Failure to Qualify. (a) Employees, after being awarded bulletined positions or permitted to exercise displacement rights, will be allowed 20 working days in which to demonstrate their ability to competently perform the job. Employees who are disqualified must immediately return to their former positions unless they have been abolished or permanently filled by senior employees, in which event they may exercise seniority over any junior employees, or any positions bulletined during their qualifying period to which their seniority entitles them. (b) Employees may be removed from positions at any time during the 20 day qualifying period if it becomes apparent that they do not possess the necessary ability and fitness to permit them to qualify. If employees feel they have been unjustly removed under this Rule they may grieve under Rule 25. (c) Employees will be given full cooperation of supervisors and employees in their efforts to qualify for positions.