IWH definition
Examples of IWH in a sentence
The Carve-out Financial Statements and the March 31 Balance Sheet and Statement of Operations, both of which are unaudited, were prepared in accordance with the books of account and other financial records of the General Cable Corporation (“Group Companies”) with respect to the Ignition Wire Harness (IWH) Business.
In July 2021, IWH Sponsor LP (the “Sponsor”) purchased 2,875,000 Class B ordinary shares, $0.0001 par value per share, of the Company (the “Founder Shares”).
The Financial Statements reflect the financial position and results of operations of the IWH Business (combined and without the Acquired Company) had they been operated on a stand-alone basis during the periods presented, except for corporate expenses of GCI and its Affiliates in an amount equal to approximately $4,200,000.
During the Employment Period, unless approved by IWH and the Company, Employee will not accept or pursue, directly or indirectly, any Corporate Opportunities on Employee’s own behalf.
In the unlikely event that the funds granted by the Funder will be subject to value added tax (in German: Umsatzsteuer, USt.) under German law and the IWH will be made liable for VAT (USt) by the German revenue authorities according to the reverse charge mechanism, IWH will deduct VAT/USt - possibly also with retrospective effect - from the funds attributed to the Contributors.
Employee may not assign his rights or delegate his duties or obligations hereunder without the prior written consent of IWH and the Company.
The Employee will notify IWH and the Company promptly and in writing of any circumstances of which Employee has knowledge relating to any possession or use of any Confidential Information by any Person other than those authorized by the terms of this Agreement.
IWH and the Company may assign their respective rights and obligations hereunder, without the consent of, or notice to, the Employee, to any of IWH’s affiliates or any Subsidiary or to any Person that acquires IWH or the Company or any portion of its business or its assets, in which case all references to IWH or the Company will refer to such assignee.
The Company and the Sponsor acknowledge and agree that prior to the Closing, the Sponsor shall seek to amend Section 7(a) of that certain Letter Agreement, dated December 8, 2021 (the “Insider Letter”), by and among the Purchaser, IWH Sponsor LP, and certain officers and directors of the Purchaser, to reduce the Founder Shares Lock-Up Period (as defined therein) from one year to 180 days.
All Work Product created by Employee while employed by IWH or any of its Subsidiaries will be considered “work made for hire,” and as such, [WEI or such Subsidiary is the sole owner of all rights, title, and interests therein.