Section 338 Election definition

Section 338 Election has the meaning given to that term in Section 11.4(a).

Section 338 Election has the meaning set forth in Section 6.4(d).

Section 338 Election means an election that may be made by the Buyer or any of its nominated subsidiaries under Section 338(g) of the Code in respect to the acquisition of the SPV Shares hereunder.

Examples of Section 338 Election in a sentence

• One corporation preserves its original charter or identity and continues to exist and the other corporate exis- tence terminates.IRC Section 338 Election: Occurs when a stock purchase is treated as an asset purchase under the Internal Revenue Code Section 338.

• One corporation preserves its original charter or identity and continues to exist and the other corporate exis- tence terminates.IRC Section 338 Election: Occurs when a stock purchase is treated as an asset purchase under the Internal Revenue Code Section 338.7. Enter the date the business was acquired.8. Enter the percentage of the predecessor‘s total business acquired.

• For purposes of the Section 338 Election, the parties shall allocate the aggregate of the Purchase Price and liabilities of the Companies to assets of the Companies prior to August 25, 2006 which will be included in the final S-corporation income tax returns for the period ended as of the Closing Date, based on Exhibit H.

• For taxable periods that end on the Closing Date, all items of income, gain, loss, deduction, and credits other than any such items resulting from the Section 338 Election (which income, gains or losses there from will be reported on the federal and state income tax returns ending on the Acquisition Date) shall be allocated to the periods before and after the Closing Date by closing the books of each Company as of the Closing Date.

• Section 3(1)(b) of the Deeds Registries Act 47 of 1937 affords the registrar an active role in examining and approving or rejecting deeds.

More Definitions of Section 338 Election

Section 338 Election shall have the meaning set forth in Section 2.5 hereof.

Section 338 Election shall have the meaning set forth in Section 8.05(h)(i).

Section 338 Election is defined in Section 4.12.

Section 338 Election is defined in Section 7.1(b).

Section 338 Election has the meaning given in Clause 9.2;

Section 338 Election shall have the meaning ascribed to such term in Section 11.5(a). "SECTION 338 FORMS" shall have the meaning ascribed to such term in Section 11.5(b).

Section 338 Election has the meaning set forth in SECTION 7.4(A).