Common use of Subchapter S Clause in Contracts

Subchapter S. The Company has elected, by the unanimous consent of its shareholders and in compliance with all applicable legal requirements, to be taxed under Subchapter “S” of the Code and corresponding provisions under any applicable state and local laws, and such elections are currently in full force and effect for the Company. No action has been taken by the Company or the Shareholder that may result in the revocation of any such elections. The Company has no “Subchapter C earnings and profits,” as defined in Code Section 1362(d). The Company has no “net unrealized built-in gain,” as such term is defined in Code Sections 1374(d)(1) and 1374(d)(8). The Company has no Liability, absolute or contingent, for the payment of any income Taxes under the Code or under Subchapter “S” of the Code.

Subchapter S. The Company has elected, by the unanimous consent of its shareholders the Shareholders and in compliance with all applicable legal requirements, to be taxed under Subchapter “"S” " of the Code and corresponding provisions under any applicable state and local laws, and such elections are currently in full force and effect for the Company. No action has been taken by the Company or the Shareholder Shareholders that may result in the revocation of any such elections. The Company has no “"Subchapter C earnings and profits,” " as defined in Code Section 1362(d). The Company has no “"net unrealized built-in gain,” " as such term is defined in Code Sections 1374(d)(1) and 1374(d)(8). The Company has no Liability, absolute or contingent, for the payment of any income Taxes under the Code or under Subchapter “"S” " of the Code.

Subchapter S. The Company has elected, by the unanimous consent of its shareholders the Shareholder and in compliance with all applicable legal requirements, to be taxed under Subchapter “"S” " of the Code and corresponding provisions under any applicable state and local laws, and such elections are currently in full force and effect for the Company. No action has been taken by the Company or the Shareholder that may result in the revocation of any such elections. The Company has no “"Subchapter C earnings and profits,” " as defined in Code Section 1362(d). The Company has no “"net unrealized built-in gain,” " as such term is defined in Code Sections 1374(d)(1) and 1374(d)(8). The Company has no Liability, absolute or contingent, for the payment of any income Taxes under the Code or under Subchapter “"S” " of the Code.

Subchapter S. The Company has elected, by the unanimous consent of its shareholders and in compliance with all applicable legal requirements, to be taxed under Subchapter “"S” " of the Code and corresponding provisions under any applicable state and local laws, and such elections are currently in full force and effect for the Company. No action has been taken by the Company or the Shareholder that may result in the revocation of any such elections. The Company has no “"Subchapter C earnings and profits,” " as defined in Code Section 1362(d). The Company has no “"net unrealized built-in gain,” " as such term is defined in Code Sections 1374(d)(1) and 1374(d)(8). The Company has no Liability, absolute or contingent, for the payment of any income Taxes under the Code or under Subchapter “"S” " of the Code.