Ruling definition
Examples of Ruling in a sentence
RemainCo shall not be required to take any action related to obtaining a Ruling unless and until Air PubCo has provided to RemainCo an opinion reasonably acceptable to RemainCo from a nationally recognized Tax Advisor to the effect that the outcome of the ruling process should be favorable.
RemainCo shall have the right to obtain a Ruling or an Unqualified Tax Opinion at any time in its sole and absolute discretion.
Air PubCo shall reimburse RemainCo for all reasonable third-party costs and expenses incurred by the RemainCo Group in filing a Ruling Request and/or obtaining a Ruling or Unqualified Tax Opinion requested by Air PubCo within ten (10) business days after receiving an invoice from RemainCo therefor.
RemainCo agrees that at the reasonable request of Air PubCo pursuant to Section 6.01(c), RemainCo shall cooperate with Air PubCo and use reasonable efforts to seek to obtain, as expeditiously as possible, an Unqualified Tax Opinion or, in RemainCo’s sole discretion, a Ruling from the IRS, for the purpose of permitting Air PubCo to take the Notified Action.
Further, in no event shall RemainCo be required to file any Ruling Request under this Section 6.03(b) unless Air PubCo represents that (A) it has read the Ruling Request, and (B) all information and representations, if any, relating to any member of the Air PubCo Group, contained in the Ruling Request documents are (subject to any qualifications therein) true, correct and complete.