New Operating Entity definition

New Operating Entity has the meaning specified in Section 12.4(b).
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New Operating Entity means any operating entity (or holding company of an operating entity) initially capitalized (and controlled) by the Company or one or more of its subsidiaries on or after January 1, 2000 for the primary purpose of engaging in a line of business which is outside of the scope of the traditional lines of business engaged in by the Company and its subsidiaries prior to June 1999, it being acknowledged that for this purpose all Internet-oriented lines of business fall into the category of a non-traditional line of business, provided that it is contemplated at the time of the formation of such entity that the capital to be invested in such entity by unaffiliated third parties will be greater than the capital invested in such entity by the Company.
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Examples of New Operating Entity in a sentence

  • The avoidance or prevention of any Loss of Partnership Status with respect to the interests of the non-Public Partners in (A) the Partnership or (B) any one or more entities that, as a result of the Restructuring, become the owner of all or any substantial part of the businesses or assets owned by the Partnership prior to the Restructuring (each such entity, a "New Operating Entity").

  • The preservation, to the extent the General Partner deems consistent with the status of the Partnership or a Public Entity as a partnership for federal income tax purposes, of the ability of Partners that are not Public Partners to dispose of all or part of their interests in the Partnership, or any Public Entity in the public market (including such of their interests in the Partnership as they may have transferred to any New Operating Entity).

  • Each of the Lessor and Unicom Group irrevocably agrees that the Lessee may transfer or sub-contract any of its rights and obligations under this Agreement to the New Operating Entity or another member of the Listed Group.

  • The parties are in the process of seeking regulatory approval of the New Operating Entity as the Replacement Operator.

  • If at the time the Consideration is released from escrow the New Operating Entity has not received Approval as the Replacement Operator, the Partners will use reasonable best efforts to obtain such Approval.

Related to New Operating Entity

  • Operating Entity means an entity that operates and controls a portion of the bulk transmission system with the goal of ensuring reliable energy interchange between generators, loads, and other operating entities.

  • Operating Entities means, from time to time, the Persons in which the Holding Entities, directly or indirectly, hold interests and that (i) directly hold real estate assets, or (ii) indirectly hold real estate assets but all of the interests of which are not held, directly or indirectly, by the Holding Entities, other than, in the case of each of (i) and (ii), any Person in which the Holding Entities, directly or indirectly, hold interests for investment purposes only of less than 5% of the outstanding equity securities of that Person;

  • Holding Entities means the subsidiaries of Brookfield Renewable Energy L.P., from time to time, through which it indirectly holds all of the Partnership’s interests in the Operating Entities.

  • holding entity means a person that is controlled by an individual;

  • TRS means a taxable REIT subsidiary (as defined in Section 856(l) of the Code) of the General Partner.