IT Subsidiaries definition
Examples of IT Subsidiaries in a sentence
Both the transaction described in this Section 2.02(d) and any Distributions made by CLD or the IT Subsidiaries directly or indirectly to Seller subsequent to the date hereof and prior to the Second Closing which are unrelated to the CIT Businesses (including, without limitation, the distribution by the Company of its interest in the C-DON Partnership, a Pennsylvania general partnership) shall be disregarded for purposes of calculating Contribution Amounts and Distribution Amounts.
Prior to the Second Closing, Seller will capitalize all intercompany obligations owed to Seller or any of its Affiliates by the Company and the IT Subsidiaries.
Promptly after the Second Closing Date, Buyer shall cause the IT Subsidiaries to change their names to delete any reference therein to the name "C-TEC".
If the Alternative Purchase Structure (as hereinafter defined) is not elected, then, prior to the Second Closing, Seller will cause the IT Subsidiaries to be direct or indirect wholly owned subsidiaries of CLD (the "CIT Internal Reorganization").