Company Taxes. The actual distributions from the Company to its shareholders following its most recent taxable year end through the Closing Date plus its deemed liquidating distribution of the Company resulting from the Merger for federal income tax purposes will eliminate its "REIT taxable income" (as that term is defined in Section 857(b)(2)) from its most recent taxable year end through the Closing Date, including, without limitation, gain from the deemed sale of assets by the Company to CSLC for federal income tax purposes.
Appears in 10 contracts
Samples: Agreement and Plan of Merger (Ilm Senior Living Inc /Va), Trust Agreement (Ilm Ii Senior Living Inc /Va), Agreement and Plan of Merger (Capital Senior Living Corp)
