RNL definition
Examples of RNL in a sentence
RNL shall not materially amend or revise its retention policy in effect at the time of its IPO for a period of three years after the IPO.
If RNL has not entered into a definitive agreement with respect to the Dementia Opportunity described in the Offer Notice within 60 days of the Acceptance Notice, Roivant shall be free to pursue such Dementia Opportunity.
No later than 75 days after the end of each taxable year, RNL shall deliver to Roivant an analysis as to whether RNL believes that it will be treated as a PFIC in respect of such taxable year.
Such analysis may be prepared by RNL, but in preparing such analysis RNL shall consult with its internationally recognized tax advisors.
RNL shall not have any liability to Roivant if any information is destroyed in compliance with its document retention policies.
Each Party is responsible for its own fees, costs and expenses incurred in connection with this Agreement and the activities contemplated hereby; provided, further, to the extent that the observation of the covenants and performance of the obligations set forth in Article II result in additional significant financial expenses to RNL, upon RNL’s request, the Parties will discuss potential reimbursement by Roivant with respect to such additional financial expenses incurred by RNL.
Any information owned by RNL that is provided to Roivant pursuant to the terms of this Agreement shall be deemed to remain the property of RNL.
Subject to the other terms in this Agreement, RNL shall not make or adopt any significant changes to its accounting estimates or accounting policies and principles from those in effect on the Effective Date to the extent that such changes would significantly impact Roivant’s financial statements.
RNL and Roivant will consult with each other as to the timing of their annual and quarterly earnings releases and any interim financial guidance for a current or future period and, to the extent reasonably possible.
For a period of six months after the consummation of the IPO, RNL shall invest its cash and cash equivalents in a non-interest bearing account and will not otherwise generate “passive income” within the meaning of Section 1297(b) of the U.S. Internal Revenue Code of 1986, as amended.