Economic Effect. The Sold Shares are sold to the Purchaser with economic effect (mit wirtschaftlicher Wirkung) as of 1 January 2022 (CET) (the “Effective Date”), including the right to receive all profits for the Companies’ current fiscal year as well as all profits for previous fiscal years of the Companies, in each case unless distributed prior to the Effective Date. As of the Effective Date, all risks and burdens pertaining to the Sold Shares, the Companies, the other Group Companies and the Business shall pass to the Purchaser within the meaning of section 446 of the German civil code (Bürgerliches Gesetzbuch, “BGB”).
Economic Effect. The parties desire to give economic effect to the transactions contemplated by this Agreement as of 11:59 p.m. on the date of Closing.
Economic Effect. From an economic point of view, the Merger shall have retroactive effect and become effective as of the Balance Sheet Date. As from 1 January 2014 all acts and operations of Xxxxxxxxxxx Switzerland shall be deemed to be conducted for Weatherford Ireland’s account.
Economic Effect. The Shares are sold to the Purchaser with effect as of the Signing Date with all rights and obligations pertaining thereto, including, but not limited to, the right to receive all profits for the current fiscal year as well as all profits for previous years not distributed to the Sellers.
Economic Effect. (a) The Sold Assets are sold with economic effect (mit wirtschaftlicher Wirkung) as of the Locked Box Date.
Economic Effect. The Sold Shares are sold to the Purchaser with economic effect (mit wirtschaftlicher Wirkung) as of 1 July 2019, 00:00 hrs. (CET) (the “Effective Date”), including the right to receive all profits for the Company’s current fiscal year as well as all profits for previous fiscal years of the Company, not yet resolved upon. Subject to Sections 8, 9 and 12, as of the Effective Date, all risks and burdens pertaining to the Sold Shares, the Company, the other Group Companies and the Business shall pass to the Purchaser within the meaning of Section 446 BGB.
Economic Effect. Notwithstanding any other provision herein to the contrary, no allocation of Profits, Losses, or items of income, gain, loss and deduction will be made to a Member if the allocation would not have "economic effect" under section 1.704-1(b)(2)(ii) of the Regulations or otherwise would not be in accordance with the Members? interests in the Company within the meaning of section 1.704-1(b)(3) or section 1.704-2(b)(1) of the Regulations. A majority of the Managers will have the authority to reallocate any item in accordance this Section 6.5; provided, however, that (a) no such change shall have a material adverse effect upon the amount of cash or other property distributable to any Member, (b) each Member shall have 30 days prior notice of such proposed modification and (c) the Company shall have received an opinion of tax counsel to the Company that such modification is necessary to comply with section 704(b) of the Code.
Economic Effect. It is agreed between the parties that, subject to Completion occurring and to the terms of this Agreement, the sale and purchase of the Shares shall have economic effect as between the parties from 1 November 2012. For the avoidance of doubt, in this Clause “economic effect” shall mean that the Purchaser shall be entitled to participate in the results of the Company as if Completion had occurred on 1 November 2012, except with respect to the Vessels “Brugge Venture” and “Touraine”, in relation to which Completion will be deemed to have occurred on the date of acquisition of these Vessels, being 17 December 2012 and 20 December 2012 respectively.
Economic Effect. Notwithstanding any other provision in this Agreement, the parties agree that their respective rights and obligations under this Agreement shall have economic effect immediately after the Effective Time.
Economic Effect. It is the intent of the Partners that the allocations of Profit and Loss under this Agreement have substantial economic effect (or be consistent with the Partners’ interests in the Partnership’s profits) within the meaning of Section 704(b) of the Code as interpreted by the Regulations promulgated pursuant thereto. Article 5 and other relevant provisions of this Agreement shall be interpreted in a manner consistent with such intent.
