Exempt CFC definition
Exempt CFC any “controlled foreign corporation” (as defined in Section 957 of the Code) of which a Borrower or a Subsidiary of a Borrower is a “United States shareholder” (within the meaning of Section 951 of the Code).
Exempt CFC any “controlled foreign corporation” (as defined in Section 957 of the Code) of which the MLP or a Subsidiary of the MLP is a “United States shareholder” (within the meaning of the Code).
Exempt CFC. SemMexico Materials ▇▇ ▇. de ▇.▇. de C.V. and any other “controlled foreign corporation” (as defined in Section 957 of the Code) of which the Parent or a Subsidiary of the Parent is a “United States shareholder” (within the meaning of Section 951 of the Code) that, if the Parent or a Subsidiary of the Parent were to pledge 66 2/3 percent or more of its voting stock to the Lenders or the controlled foreign corporation were to guarantee the Obligations hereunder, as the case may be, a deemed dividend would arise under Section 956 of the Code to the Parent or a Subsidiary of the Parent the effect of which as reasonably demonstrated by the Parent to the Administrative Agent would result in a material actual tax payment by the Parent, it being understood that an additional tax payment by the Parent of less than $500,000 in any year is not a material tax payment. A controlled foreign corporation shall not be an Exempt CFC for any year unless the Parent has reasonably demonstrated its status prior to the Closing Date (for 2009) and before January 1 of each subsequent year.
Examples of Exempt CFC in a sentence
At any time and from time-to-time after the Restatement Effective Date, the U.S. Borrower may request that any of its Subsidiaries (other than an Exempt CFC or a direct or indirect Subsidiary of an Exempt CFC) become a borrower under this Agreement (each Subsidiary which becomes a borrower pursuant to the terms of this Section 11.19, an “Additional Borrower”).
More Definitions of Exempt CFC
Exempt CFC any “controlled foreign corporation” (as defined in Section 957 of the Code) of which the MLP or a Subsidiary of the MLP is a “United States shareholder” (within the meaning of the Code). “Existing Acquisition Facility Letter of Credit”: each outstanding “Acquisition Facility Letter of Credit” (as defined in the Existing Credit Agreement) set forth on Schedule 3.2. “Existing Acquisition Facility Loan”: each “Acquisition Facility Loan” (as defined in the Existing Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date. “Existing Credit Agreement”: that certain ▇▇▇▇▇▇▇ and Restated Credit Agreement, dated as of December 9, 2014, among the Borrowers, the lenders and agents party thereto, and MUFG, as successor administrative agent, successor Canadian agent and successor collateral agent, as amended, restated, supplemented or otherwise modified from time to time immediately prior to the Restatement Effective Date. “Existing Dollar Working Capital Facility Letters of Credit”: each “Dollar Working Capital Facility Letter of Credit” (as defined in the Existing Credit Agreement) set forth on Schedule 3.1(a). “Existing Dollar Working Capital Facility Loans”: each “Dollar Working Capital Facility Loan” (as defined in the Existing Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date.
Exempt CFC any “controlled foreign corporation” (as defined in Section 957 of the Code) of which the MLP or a Subsidiary of the MLP is a “United States shareholder” (within the meaning of the Code). “Existing Acquisition Facility Letter of Credit”: each outstanding “Acquisition Facility Letter of Credit” (as defined in the Existing Credit Agreement) set forth on Schedule 3.2. “Existing Acquisition Facility Loan”: each “Acquisition Facility Loan” (as defined in the Existing Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date. “Existing Credit Agreement”: that certain Amended and Restated Credit Agreement, dated as of December 9, 2014, among the Borrowers, the lenders and agents party thereto, and MUFG, as successor administrative agent, successor Canadian agent and successor collateral agent, as amended, restated, supplemented or otherwise modified from time to time immediately prior to the Restatement Effective Date. “Existing Dollar Working Capital Facility Letters of Credit”: each “Dollar Working Capital Facility Letter of Credit” (as defined in the Existing Credit Agreement) set forth on Schedule 3.1(a). USActive 56005294.156005294.9 -63-
Exempt CFC any “controlled foreign corporation” (as defined in Section 957 of the Code) of which the MLP or a Subsidiary of the MLP is a “United States shareholder” (within the meaning of the Code). “Existing Acquisition Facility Letter of Credit”: each outstanding “Acquisition Facility Letter of Credit” (as defined in the Existing Credit Agreement) set forth on Schedule 3.2. “Existing Acquisition Facility Loan”: each “Acquisition Facility Loan” (as defined in the Existing Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date. “Existing Credit Agreement”: that certain Credit Agreement, dated as of October 30, 2013, among the U.S. Borrower, the lenders and agents party thereto, and JPMorgan Chase Bank, N.A., as administrative agent “Existing Kildair Letter of Credit”: each “Letter of Credit” (as defined in the Kildair Credit Agreement) set forth on Schedule 3.1(a). “Existing Lenders”: the “Lenders” (as defined in the Existing Credit Agreement) immediately prior to the Restatement Effective Date. “Existing Mortgaged Property”: each property that is currently covered by a mortgage or deed of trust pursuant to the Existing Credit Agreement. “Existing ▇▇▇▇▇▇▇ Letter of Credit”: each “Working Capital Facility Letter of Credit” (as defined in the Existing Credit Agreement) set forth on Schedule 3.1(b). “Existing Working Capital Facility Loans”: each “Working Capital Facility Loan” (as defined in the Existing Credit Agreement) that is outstanding immediately prior to the Restatement Effective Date. “Extensions of Credit”: at any date, as to any Lender at any time, the amount of its Dollar Working Capital Facility Extensions of Credit, its Multicurrency Working Capital Facility Extensions of Credit or its Acquisition Facility Extensions of Credit at such time, as the context requires. “Facility”: the Acquisition Facility, the Dollar Working Capital Facility or the Multicurrency Working Capital Facility, as the context requires. “Facility Increase”: as defined in Section 4.1(b). “FATCA”: Sections 1471 through 1474 of the Code, as of the Restatement Effective Date (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreements entered into pursuant to Section 1471(b)(1) of the Code, any intergovernmental agreements entered into in connection with the implementation of such Sections of the Code and any fi...