Termination of S Status Clause Samples

Termination of S Status. The Company will terminate its status as ------------------------ an S corporation by revoking its election to be an S corporation under Section 1362(d) of the Code.

Termination of S Status. The Stockholders agree to terminate the ------------------------ S corporation status of the Company by revoking the S corporation election pursuant to Code Section 1362(d)(1), effective on the day preceding the closing of the sale of shares of the Company's common stock under the Public Offering (the "Termination Date").

Termination of S Status. The Company's S corporation status shall be terminated as a result of revocation of such status pursuant to Section 1362(d)(1) of the Code. The Company agrees to execute and file with the Internal Revenue Service an executed election in substantially the form attached hereto as Exhibit A, prior to the Termination Date. The termination of the Company's S corporation status shall be effective on the closing of the Financing.

Termination of S Status. The parties intend to terminate the Company's status as an S corporation by electing to do so under Code Section 1362(d)(1).

Termination of S Status. The parties intend to terminate the Company’s status as an S corporation by electing to do so under Section 1362(d)(1) of the Code. The Stockholders shall consent to the revocation of the S corporation election by filing an election to be effective no later than one day before the closing of the Offering (such effective date the “Termination Date”). Notwithstanding the foregoing, the parties alternatively may agree to terminate the Company’s status as an S corporation under Section 1362(d)(2) of the Code by issuing shares of the Company’s common stock in the Offering, in which case the date of the Offering shall be the Termination Date.

Termination of S Status. The parties acknowledge and agree that ----------------------- the Exchange will terminate the Company's status as an S corporation under Section 1362(d)(2) of the Code. The Company will notify the Internal Revenue Service ("IRS") of the termination by attaching a statement to its tax return in accordance with Treasury Regulations Section 1.1362-2(b)(1).

Termination of S Status. The Company is revoking its status as an S corporation under Section 1362 of the Internal Revenue Code of 1986, as amended (the "Code"), effective as of _____, 1997 (the "Termination Date"). The Company is also revoking its status as an S corporation in all states in which it is a qualifying S corporation effective as of such date. The Company also intends to elect to allocate its income for its current taxable year prior to the Termination Date using its normal tax accounting method (rather than the pro rata allocation method) in accordance with Treasury Regulation Section 1.1362-3(b) ("Accounting Election"). The Stockholders hereby approve such revocation and Accounting Election and agree to take all necessary steps to effect such revocation and Accounting Election.

Termination of S Status. AEI's S corporation status shall be terminated as a result of revocation of such status pursuant to Section 1362(d)(1) of the Code. The Company agrees to execute and file with the Internal Revenue Service an executed election in substantially the form attached hereto to as Exhibit A, prior to the Termination Date. The termination of the AEI's S corporation status shall be effective prior to (i) its reincorporation as ATI and (ii) the closing of the Public Offering.

Termination of S Status. The parties intend that the status of the Company as an S corporation shall be terminated as of the Termination Date.