Common use of Qualified Status Clause in Contracts

Qualified Status. Each Supply Tech Benefit Plan that is funded through a trust or insurance contract has satisfied in all material respects, by its terms and in its operation, all applicable requirements for an exemption from federal income taxation under Section 501(a) of the Code. Except for the plans identified as qualified plans in the Supply Tech Disclosure Letter (the "Qualified Plans") neither Supply Tech nor any Supply Tech ERISA Affiliate maintains or previously maintained a Supply Tech Benefit Plan which meets or was intended to meet the requirements of Section 401(a) of the Code. Except as would not have a Supply Tech Material Adverse Effect, any determination, opinion or notification letter issued by the IRS to the effect that the Qualified Plans qualify under Section 401(a) of the Code and that the related trust is exempt from taxation under Section 501(a) of the Code remains in effect and has not been revoked. Each of the Qualified Plans currently complies in form in all material respects with the requirements under Section 401(a) of the Code, other than changes required by statutes, regulations and rulings for which amendments are not yet required. Each of the Qualified Plans has been administered according to its terms (except for those terms which are inconsistent with the changes required by statutes, regulations, and rulings for which changes are not yet required to be made, in which case the Qualified Plans have been administered in accordance with the provisions of those statutes, regulations and rulings) and in accordance with the requirements of Section 401(a) of the Code. The Qualified Plans have been tested for compliance with, and in all material respects have satisfied the requirements of, Section 401(k)(3) and 401(m)(2) of the Code, if applicable, for each plan year within the time periods permitted by law.

Qualified Status. Each Supply Tech Except as disclosed in (S) 3(w)(vii) of the Disclosure Schedule, each Company Benefit Plan that is funded through a trust or insurance contract has at all times satisfied in all material respects, by its terms and in its operation, all applicable requirements for an exemption from federal income taxation under Section (S) 501(a) of the Code. Except for as disclosed in (S) 3(w)(vii) of the plans identified as qualified plans in Disclosure Schedule, neither the Supply Tech Disclosure Letter (the "Qualified Plans") neither Supply Tech Company, nor any Supply Tech Company Subsidiary, nor any Company ERISA Affiliate maintains or previously maintained a Supply Tech Company Benefit Plan which meets or was intended to meet the requirements of Section (S) 401(a) of the CodeCode (collectively, "Company Qualified Plans"). Except as would not have a Supply Tech Material Adverse Effect, any determination, opinion or notification Each determination letter issued by the IRS to the effect that the a Company Qualified Plans qualify Plan qualifies under Section (S) 401(a) of the Code and that the related trust is exempt from taxation under Section (S) 501(a) of the Code remains in effect and has not been revoked. Each of the Company Qualified Plans Plan currently complies in form in all material respects with the requirements under Section (S) 401(a) of the Code, other than changes required by statutes, regulations and rulings for which amendments are not yet required. Each of the Company Qualified Plans Plan has been administered according to its terms (except for those terms which are inconsistent with the changes required by statutes, regulations, and rulings for which changes are not yet required to be made, in which case the Company Qualified Plans have Plan has been administered in accordance with the provisions of those statutes, regulations and rulings) and in accordance with the requirements of Section (S) 401(a) of the Code. The Each Company Qualified Plans have Plan containing a cash or deferred arrangement under (S) 401(k) of the Code or pursuant to which matching or employee contributions are permissible has been tested for compliance with, and in all material respects have has satisfied the requirements of, Section (S)(S) 401(k)(3) and 401(m)(2) of the Code, if applicable, Code for each plan year within ending prior to the time periods permitted by lawClosing Date.