SPCI definition
Examples of SPCI in a sentence
SPCI shall prepare and file or cause to be prepared and filed all Tax Returns relating to Other Taxes of SPCI or any of its subsidiaries or the SPCI Business that have not been filed before the Distribution Date.
As soon as reasonably practicable, SPCI shall permit each SPCI Employee to elect a direct rollover of cash from the IDT 401(k) Plan into one or more ▇▇▇ accounts established by such SPCI Employee.
For the avoidance of doubt, recognition of income or gain by IDT or SPCI as a result of taking into account intercompany items or excess loss accounts pursuant to the Treasury Regulations promulgated pursuant to Section 1502 of the Code shall not mean that the Spinoff does not have tax-free status.
From and after the Effective Time, no current or former employee of any member of the IDT Group shall have any authority to access, control or sign in connection with any SPCI Account other than those who will be authorized SPCI employees.
SPCI shall also be entitled, in perpetuity, to control the assertion or waiver of all privileges in connection with privileged information that relates solely to the subject matter of any claims constituting SPCI Liabilities, now pending or which may be asserted in the future, in any lawsuits or other proceedings initiated against or by SPCI, whether or not the privileged information is in the possession of or under the control of IDT or SPCI.
SPCI shall have the right to inspect and copy, upon reasonable notice and at reasonable intervals during IDT’s regular office hours, the separate records and accounts maintained by IDT relating to the Services.
IDT is executing a spin-off of SPCI, a wholly-owned subsidiary, to its stockholders, and has agreed to provide certain corporate, tax and accounting support, administrative and other services to SPCI on the terms and conditions set forth herein.
The SPCI Stock Plan shall be approved prior to the Distribution Date by IDT as the majority stockholder of SPCI.
SPCI may not assign this Agreement without the prior written consent of IDT.
All notices and communications, to be effective, must be properly addressed to the Party to whom the same is directed at its address as follows: If to IDT, to: IDT Corporation ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇ Attention: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ With copies to: IDT Corporation ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇ Fax: ▇▇▇-▇▇▇-▇▇▇▇ Attention: Legal Department If to SPCI, to: Straight Path Communications Inc.