USRPHC Status. (a) The Company is not and never has been a “United States real property holding corporation” as defined in Section 897 of the Code. (b) PMC would not be and at no time would it have been treated as a “United States real property holding corporation” as defined in Section 897 of the Code, if it had been a domestic corporation at all times during the period beginning five years and one day prior to the date of this Agreement and ending on the day immediately following the day on which the Effective Time occurs.
Appears in 3 contracts
Sources: Merger Agreement (PCI Media, Inc.), Merger Agreement (PCI Media, Inc.), Contribution Agreement (PCI Media, Inc.)