Accounting of Purchases. The Seller will not account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as a sale or contribution of the Transferred Assets by the Seller to the Buyer; provided that for federal income tax reporting purposes, the Buyer is treated as a “disregarded entity” and, therefore, the transfer of Transferred Assets by the Seller to the Buyer hereunder will not be recognized; and provided, further, that nothing shall prevent Seller from showing the Transferred Assets as consolidated assets of the Seller and its consolidated subsidiaries on Seller’s consolidated financial statements.
Appears in 4 contracts
Samples: Sale and Contribution Agreement (Investcorp Credit Management BDC, Inc.), Sale, Contribution and Master Participation Agreement (Oxford Square Capital Corp.), Sale, Contribution and Master Participation Agreement (Oxford Square Capital Corp.)
Accounting of Purchases. The Seller will not account for or treat (whether in financial statements or otherwise) the transactions contemplated hereby in any manner other than as a sale or contribution of the Transferred Assets by the Seller to the Buyer; provided that for U.S. federal income tax reporting purposes, the Buyer is treated as a “disregarded entity” and, therefore, the transfer of Transferred Assets by the Seller to the Buyer hereunder will not be recognizedrecognized for U.S. federal income tax purposes; and provided, provided further, that nothing shall prevent Seller from showing the Transferred Assets as consolidated assets of the Seller and its consolidated subsidiaries on Seller’s consolidated financial statements.
Appears in 1 contract
Samples: Sale and Contribution Agreement (First Eagle Credit Opportunities Fund)
