CIJL definition
Examples of CIJL in a sentence
Each of CIJL and K-W shall designate one arbitrator with the above qualifications within fourteen (14) days of receiving notice from the other party of a desire to arbitrate, and those two (2) arbitrators shall then mutually agree within fourteen (14) days upon the third arbitrator who shall become the chairperson of the arbitration committee.
CIJL and K-W may exercise the Call Option and Put Option, respectively, by delivering written notice (an "Option Notice") of its intention to exercise the relevant option to K-W or CIJL, respectively (the Shareholder exercising such Call Option or Put Option shall be referred to as the "Exercising Shareholder" and the other Shareholder shall be referred to as the "Non-exercising Shareholder").
Resolutions of the Board of Directors shall be adopted by the affirmative vote of a majority of the directors of the Company provided however, notwithstanding any other provision in this Agreement to the contrary, the directors nominated by CIJL, in their sole and absolute discretion and without the consent or approval of the directors nominated by K-W, shall have the right to cause the Company to take action under the Employee Secondment and Consulting Agreement, including termination of such agreement.
The Statutory Auditor shall be nominated by CIJL and approved by the Board of Directors.
K-W and CIJL wish to set out the terms and conditions upon which the business of the Company is to be carried on and to govern their respective rights and obligations.
As the intention and business of the Company is to deal in such real estate related investments in loans and properties in Japan, K-W and CIJL hereby agree that it would be appropriate to treat such income as "dealer" income pursuant to Section 945(c)2(C) of the code and to treat the foreign tax credits arising from any Japanese tax paid by the Company as falling within the "financial services" basket pursuant to Section 904(d)(2)(A)(c) of the Code.
If the business of the Company should change materially, K-W and CIJL will cause their ultimate U.S. shareholders to discuss in good faith a consistent treatment of the Company's income and foreign tax credits relating thereto, for U.S. tax purposes.
K-W and CIJL agree that they will cause their respective ultimate U.S. shareholders to take a consistent approach to the U.S. tax treatment of the income of the Company and any foreign tax credits generated therefrom.