Examples of Spin-Off Company in a sentence
In conducting a spin-off with an other Subsidiary pursuant to the proceeding Article, if such other Subsidiary is an existing company, the Spin-Off Company shall enter into a spin-off agreement approved by the board of directors of such other Subsidiary and, if such other Subsidiary is a newly established company, the board of directors of the Spin-Off Company shall adopt a resolution authorizing the spin-off.
Such agreement and resolution, as applicable, shall be presented at a shareholders' meeting [of such Spin-Off Company].
If the Spin-Off Company fails to make such announcement or fails to provide security to [secure the credit of] such dissenting creditors within the designated period of time, the Spin-Off Company may not use the spin-off as a defense against such creditors.
The amount of the dividend credit shall be the number of shares (rounded to the nearest one-thousandth of a share) determined by multiplying the dividend amount per share by the number of shares credited to such director’s applicable Stock Account as of the record date for the dividend and dividing the product by the Fair Market Value per share of Common Stock or Spin-Off Company Common Stock, as the case may be, on the dividend payment date.
If the Non-employee Director has elected to defer such dividend, he or she shall receive a credit for such dividends on the dividend payment date to his or her Olin Stock Account or Spin-Off Company Stock Account, as the case may be.