S Corporation Status. The Company and Seller shall not revoke the Company’s election to be taxed as an S corporation within the meaning of Code § 1361 and § 1362. The Company and Sellers shall not take or allow any action that would result in the termination of the Company’s status as a validly electing S corporation within the meaning of Code § 1361 and § 1362.
S Corporation Status. (a) Prior to the Closing Date, Holdings has qualified and elected to be treated as an “S Corporation” under Subchapter S of the Code, and on the Closing Date each Domestic Subsidiary of Holdings (other than any such Subsidiary that is an “Ineligible Corporation” under Section 1361(b)(2) of the Code) has qualified and elected to be treated as a “qualified subchapter S subsidiary”, in each case for U.S. federal income tax purposes and in accordance with all applicable Requirements of Law.
S Corporation Status. Neither the Company nor the Sole Stockholder shall revoke the election of the Company to be taxed as an S corporation within the meaning of Sections 1361 and 1362 of the Code on or prior to the Closing Date. The Company and the Sole Stockholder shall not take or allow any action that would result in the termination of the Company’s status as a validly electing S corporation within the meaning of Sections 1361 and 1362 of the Code on or prior to the Closing Date (other than as contemplated by this Agreement).
S Corporation Status. Any Covered Person elects under Section 1362(a) of the Code to be treated as an S corporation.
S Corporation Status. Company has been a validly electing S ----------------------- corporation within the meaning of Code Sections 1361 and 1362 at all times during its existence, and Company will be an S corporation up to the consummation of the Merger. Sellers make no representation or warranty concerning the tax effects of the loss of S corporation status as a result of the Merger.
S Corporation Status. Take, or fail to take, any action that would terminate, or could reasonably be expected to lead to the termination of, Holdings' qualification as an "S Corporation" under Subchapter S of the Code, or the qualification of each Domestic Subsidiary of Holdings (other than any such Subsidiary that is an "Ineligible Corporation" under Section 1361(b)(2) of the Code) as a "qualified subchapter S subsidiary", in each case for U.S. federal income tax purposes.
S Corporation Status. If Target is an S Corporation, Transferor acknowledges that as a result of the consummation of the transactions contemplated by this Agreement, Target's S Corporation status will terminate as of the Closing Date. Notwithstanding anything in this Section 10 to the contrary, Transferor agrees that he will file any required S Corporation federal, state or local tax returns for Target for the period from January 1, 1997 through the Closing Date and will pay all applicable Taxes for such period. Transferor will elect under Section 1362(e)(3) of the Code not to have the pro rata allocation method of Section 1362(e)(2) of the Code apply to Target's final taxable year as an S Corporation.
S Corporation Status. Target and Sellers shall not revoke Target’s election to be taxed as an S corporation within the meaning of Code Section 1361 and Section 1362. Target and Sellers shall not take or allow any action, other than the sale of Target’s stock pursuant to this Agreement, that would result in the termination of Target’s status as a validly electing S corporation within the meaning of Code Section 1361 and Section 1362.
S Corporation Status. The Company shall not revoke or change such its status for federal income tax purposes as an S corporation within the meaning of Sections 1361 and 1362 of the Code or the status of any Company Subsidiary as a QSub within the meaning of Section 1361(b)(3)(B) of the Code.
S Corporation Status. ATI has not at any time elected to be treated as, and is not currently governed by, Subchapter S of the Internal Revenue Code of 1986, as amended.
