Common use of Ownership Change Clause in Contracts

Ownership Change. Take, or permit any of its Subsidiaries to take, any action that would result in an "ownership change" (as defined in Section 382 of the Internal Revenue Code) with respect to the Borrower or any of its Subsidiaries or the application of the "separate return limitation year" or "consolidated return change of ownership" limitations under the Federal income tax consolidated return regulations with respect to the Borrower or any of its Subsidiaries.

Appears in 3 contracts

Samples: Credit Agreement (Shoneys Inc), Credit Agreement (Shoneys Inc), Credit Agreement (Shoneys Inc)

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Ownership Change. Take, or permit any of its Subsidiaries to take, any action that would result in an "ownership change" (as defined in Section 382 of the Internal Revenue Code) with respect to the Borrower any Loan Party or any of its Subsidiaries except to the extent otherwise permitted under Section 5.02(e) or the application of the "separate return limitation year" or "consolidated return change of ownership" limitations under the Federal income tax consolidated return regulations with respect to the Borrower any Loan Party or any of its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Alpharma Inc)

Ownership Change. Take, or permit any of its Subsidiaries to take, any action that would result in an "β€œownership change" ” (as defined in Section 382 of the Internal Revenue Code) with respect to the Borrower or any of its Subsidiaries or Subsidiaries. Notwithstanding the application of the "separate return limitation year" or "consolidated return change of ownership" limitations under the Federal income tax consolidated return regulations with respect foregoing, this Section 5.02(n) shall not apply to the Borrower or any of its Subsidiariesan Initial Public Transaction.

Appears in 1 contract

Samples: Credit Agreement (Digital Domain Media Group, Inc.)

Ownership Change. Take, or permit any of its Subsidiaries to take, any action that would result in an "ownership change" (as defined in Section 382 of the Internal Revenue Code) with respect to Holdings, the Parent Borrower or any of its Subsidiaries or the application of the "separate return limitation year" or "consolidated return change of ownership" limitations under the Federal federal income tax consolidated return regulations with respect to Holdings, the Parent Borrower or any of its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Ipc Communications Inc /De/)

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Ownership Change. Take, or permit any of its Subsidiaries to ---------------- take, any action that would result in an "ownership change" (as defined in Section 382 of the Internal Revenue Code) with respect to the Parent Borrower or any of its Subsidiaries or the application of the "separate return limitation year" or "consolidated return change of ownership" limitations under the Federal income tax consolidated return regulations with respect to the Parent Borrower or any of its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Ipc Information Systems Inc)

Ownership Change. Take, or permit any of its Subsidiaries to take, any action that would result in an "ownership change" (as defined in Section 382 of the Internal Revenue Code) with respect to the Parent Borrower or any of its Subsidiaries or the application of the "separate return limitation year" or "consolidated return change of ownership" limitations under the Federal federal income tax consolidated return regulations with respect to the Parent Borrower or any of its Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Ipc Information Systems Inc)

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