Separate Affiliated Group definition
Separate Affiliated Group means, with respect to any corporation, such corporation’s separate affiliated group as defined by Section 355(b)(3) of the Code and the Treasury Regulations promulgated thereunder.
Separate Affiliated Group has the meaning set forth in Section 355(b)(3)(B) of the Code.
Separate Affiliated Group means, with respect to any corporation, such corporation’s separate affiliated group as defined by Section 355(b)
More Definitions of Separate Affiliated Group
Separate Affiliated Group means one or more chains of entities which are classified as corporations for U.S. federal income tax purposes connected through share ownership with Haleon in which (i) Haleon owns directly, for U.S. federal income tax purposes, stock of at least one other member of the group (a) possessing at least 80 per cent. of the voting power of the stock of such member and (b) having a value equal to at least 80 per cent. of the total value of the stock of such member and (ii) one or more members of the group own directly, for U.S. federal income tax purposes, stock of each other member of the group (except Haleon) (a) possessing at least 80 per cent. of the voting power of the stock of such member and (b) having a value equal to at least 80 per cent. of the total value of the stock of such member. For purposes of determining share ownership, the term “stock” does not include stock that (1) is not entitled to vote, (2) is limited and preferred as to dividends and does not participate in corporate growth to any significant extent, (3) has redemption and liquidation rights that do not exceed the issue price of such stock (except for a reasonable redemption premium or liquidation premium), and (4) is not convertible into another class of stock;
Separate Affiliated Group. (as defined in Section 355(b)(3)(B) of the Code) of the EHP Business as conducted immediately prior to the Second Internal Distribution.