S Election. Sellers and their spouses shall execute and cause the Corporation to execute Internal Revenue Service forms 2553 so as to elect the provisions of Subchapter S of the United States Internal Revenue Code, sections 1361, et seq., effective January 1, 1997 and shall deliver fully completed forms 2553 with all of their signatures to Purchaser on or before the earlier of the Closing Date or January 15, 1997.
Appears in 3 contracts
Sources: Stock Purchase Agreement (Gulf Island Fabrication Inc), Stock Purchase Agreement (Gulf Island Fabrication Inc), Stock Purchase Agreement (Gulf Island Fabrication Inc)