Common use of CURRENT BASIS Clause in Contracts

CURRENT BASIS. A Corporate Divestiture shall be deemed to ------------- occur on a current basis upon the consummation of any of the following transactions: (i) the disposition of assets which have, on a stand-alone, non- cumulative basis, an aggregate book value not less than thirty percent (30%) of the total book value of the consolidated assets of CPC, including its equity holdings in one or more subsidiary companies; (ii) the disposition of assets which have, on a stand-alone, non- cumulative basis, generated at least thirty percent (30%) of the consolidated revenues of CPC; or (iii) the disposition of any division or subsidiary of CPC which represents a stand-alone business operation of CPC. For purposes of any clause (i) or clause (ii) calculation, the assets or revenues subject to the disposition shall be measured on the basis of the book values and revenue levels in effect for the Fiscal Year ending immediately prior to the date of such disposition.

CURRENT BASIS. A Corporate Divestiture shall be deemed to ------------- occur on a current basis upon the consummation of any of the following transactions: (i) the disposition of assets which have, on a stand-alone, non- non-cumulative basis, an aggregate book value not less than thirty percent (30%) of the total book value of the consolidated assets of CPC, including its equity holdings in one or more subsidiary companies; (ii) the disposition of assets which have, on a stand-alone, non- non-cumulative basis, generated at least thirty percent (30%) of the consolidated revenues of CPC; or (iii) the disposition of any division or subsidiary of CPC which represents a stand-alone business operation of CPC. For purposes of any clause (i) or clause (ii) calculation, the assets or revenues subject to the disposition shall be measured on the basis of the book values and revenue levels in effect for the Fiscal Year ending immediately prior to the date of such disposition.