Successor Business definition

Successor Business. – means any business that obtains a decree under this Act for the production of green energy for consumption in Puerto Rico, whose activity is substantially similar to the one specified in the decree of the predecessor business, including a decree or grant under industrial or tax incentives laws, as established in this Act.
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Successor Business means that person who continues in a substantially similar manner the original business activity of another person through the acquisition and use, by any means, of ownership or control over the operational characteristics of the original business activity so as to enable it to carry on or continue such activity. (5005)
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Successor Business has the meaning set forth in Section 2(b) below.
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Examples of Successor Business in a sentence

  • The Successor Business Employer shall provide a Worker with a written offer of employment.

  • Notice shall include, but not be limited to, the name of the Incumbent Business Employer and its contact information, the name of the Successor Business Employer and its contact information, and the effective date of the Change in Control.

  • Notice shall remain posted during any closure of the Business and for six months after the Business is open to the public under the Successor Business Employer.

  • For a Worker, the 90-day transition employment period begins on the Worker’s Employment Commencement Date with the Successor Business Employer.

  • The most recent regular rate received by the Worker while employed by either the Business, Incumbent Business Employer, or the Successor Business Employer.

  • If the Successor Business Employer extends an offer of employment to a Worker, the Success Business Employer shall retain written verification of that offer for no fewer than three years from the date the offer was made.

  • Value of the benefits the Worker would have received under the Successor Business Employer’s benefits plan.

  • If the Worker’s performance during the 90-day transition employment period is satisfactory, the Successor Business Employer shall consider offering the Worker continued employment under the terms and conditions established by the Successor Business Employer or as required by law.

  • During the 90-day transition employment period, the Successor Business Employer shall not discharge without cause a Worker retained pursuant to this article.

  • The Incumbent Business Employer shall, within 15 days after execution of a Transfer Document, provide to the Successor Business Employer the name, address, date of hire, and occupation classification of each Worker.


More Definitions of Successor Business

Successor Business means Lawriter, Buyer or any Affiliate thereof.
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Successor Business means the business which the Purchaser carries on, making use of the subject matter of this agreement, after Completion. Tax means taxes, levies, imposts, deductions, charges, withholdings and duties (excluding stamp duties), together with any related interest, penalties, fines and other statutory charges whether accruing before or after Completion.
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Successor Business has the meaning set forth in Section 2(b) below. “Tax” or “Taxes” means any federal, state, local, or foreign income, gross receipts, license, payroll, employment, excise, severance, stamp, occupation, premium, windfall profits, environmental (including taxes under Code Section 59A), customs duties, capital stock, franchise, profits, withholding, social security (or similar), unemployment, disability, real property, personal property, sales, use, transfer, registration, value added, alternative or add-on minimum, estimated, or other tax of any kind whatsoever, including any interest, penalty, or addition thereto, whether disputed or not, and including any obligations to indemnify or otherwise assume or succeed to the Tax liability of any other Person. “Tax Return” means any return, declaration, report, claim for refund, or information return or statement relating to Taxes, including any schedule or attachment thereto, and including any amendment thereof. “Third-Party Claim” has the meaning set forth in Section 8(d) below. Page 8 “Thunderstone Agreement” has the meaning set forth in Section 6(j) below. “Thunderstone Obligation” has the meaning set forth in Section 6(j) below. “Thunderstone Software” has the meaning set forth in Section 6(j) below. “Trade Secrets” has the meaning set forth in Section 6 below. “Triggering Event Fees” has the meaning set forth in Schedule 2(b)(ii)(C) below as to each Consortium License. “Updated Content” has the meaning set forth in Section 6(h) below. “Updated Thunderstone Software” shall have the meaning ascribed thereto in Section 6(h) of this Agreement. WARN Act” has the meaning set forth in Section 4(r) below. SECTION 2.
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Successor Business means Lawriter, Buyer or any Affiliate thereof. (D) With each quarterly Earnout payment, Buyer shall furnish to Sellers complete and detailed written information as to the Net Sales for such quarter and all other matters upon which the calculation of the amount of the payment was based. Not more than once per any twelve consecutive monthly period, Sellers shall have the right to jointly appoint an independent certified public accountant who may on Sellers’ behalf review at Sellers’ sole cost and expense Buyer’s books and records as and to the extent the same shall pertain to the Earnout to verify such information and the calculation of the Earnout payment amount and to speak with Buyer’s auditors with respect to the same; provided, however, that such rights shall lapse upon and coincident with the first anniversary of the last day of the Earnout Period; provided, further, that if the review conducted under this Section 2(b)(ii)(D) evidences that the Earnout payment made hereunder is underpaid by more than ten (10%) of the amount that should have been paid, then Buyer shall be obligated to reimburse Sellers for the expenses reasonably and actually incurred by Sellers for such annual review undertaken in connection therewith. (c)
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Related to Successor Business

  • Sold Entity or Business has the meaning specified in the definition of the term “Consolidated EBITDA.”

  • Acquired Entity or Business has the meaning specified in the definition of the term “Consolidated EBITDA.”

  • Primary sector business means an individual, corporation, limited liability company,

  • Similar Business means any business conducted or proposed to be conducted by the Issuer and its Restricted Subsidiaries on the Issue Date or any business that is similar, reasonably related, incidental or ancillary thereto.

  • Business concern or business means a business that has annual gross sales of less than $75,000,000 as evidenced by the federal income tax return of the business. A firm with gross sales in excess of this cap may apply to the Council for certification for a particular contract if the firm can demonstrate that the contract would have significant impact on businesses owned by minorities, women, or persons with disabilities as suppliers or subcontractors or in employment of minorities, women, or persons with disabilities.

  • Active Trade or Business means the active conduct (determined in accordance with Section 355(b) of the Code) of the business conducted by the WRECO Group members. For these purposes, members shall include only those members that are part of WRECO’s “separate affiliated group” within the meaning of Section 355(b)(3)(B) of the Code.

  • Former Business means any corporation, partnership, entity, division, business unit, business or set of business operations that has been sold, conveyed, assigned, transferred or otherwise disposed of or divested (other than solely in connection with the Restructuring), in whole or in part, or the operations, activities or production of which has been discontinued, abandoned, liquidated, completed or otherwise terminated, in whole or in part, in each case, by either Group prior to the Distribution Time.

  • successor in business means any company which, as a result of any amalgamation, merger or reconstruction: (a) owns beneficially the whole or substantially the whole of the undertaking, property and assets owned by the Issuer immediately prior thereto; and (b) carries on, as successor to the Issuer, the whole or substantially the whole of the business carried on by the Issuer immediately prior thereto.

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • Successor Person has the meaning assigned to such term in Section 6.03(b)(i).

  • LIBOR Business Day Any day on which banks in London, England and The City of New York are open and conducting transactions in foreign currency and exchange.

  • Successor Company shall have the meaning specified in Section 11.01(a).

  • Permitted Successor is defined in Section 5.02 of the Sale Agreement.

  • Controlled unaffiliated business means a company:

  • Successor Guarantor shall have the meaning specified in Section 11.02(a)(i).

  • Affiliated business entity relationship means a relationship, other than a parent- subsidiary relationship, that exists when

  • RFR Business Day means as applicable, for any Obligations, interest, fees, commissions or other amounts denominated in, or calculated with respect to (i) Sterling, a day on which banks are open for general business in London and (ii) Euro, a TARGET Day.

  • Business Successor means (i) any former Subsidiary of the Company and (ii) any Person that, after the Issue Date, has acquired, merged or consolidated with a Subsidiary of the Company (that results in such Subsidiary ceasing to be a Subsidiary of the Company), or acquired (in one transaction or a series of transactions) all or substantially all of the property and assets or business of a Subsidiary or assets constituting a business unit, line of business or division of a Subsidiary of the Company.

  • SOFR Business Day means any day except for (i) a Saturday, (ii) a Sunday or (iii) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities.

  • Specified Business means a business of a kind prescribed by the regulations to be a specified business; tenant, in relation to a lease, means the person who, under the lease, is or would be entitled to occupy the premises the subject of the lease; Tribunal means the State Administrative Tribunal;

  • Pro Forma Entity has the meaning given to such term in the definition of “Acquired EBITDA.”

  • Successor Rate means a successor to or replacement of the Original Reference Rate which is formally recommended by any Relevant Nominating Body.

  • Related Business means any business that is related, ancillary or complementary to the businesses of the Company and the Restricted Subsidiaries on the Issue Date.

  • Minority Business means a business:

  • Successor Parent with respect to any Person, means any other Person with more than 50% of the total voting power of the Voting Stock which is, at the time the first Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) by one or more Persons that “beneficially owned” (as so defined) more than 50% of the total voting power of the Voting Stock of the first Person immediately prior to the first Person becoming a Subsidiary of such other Person.

  • Successor Corporation means a corporation, or a parent or subsidiary thereof within the meaning of Section 424(a) of the Code, which issues or assumes a stock option in a transaction to which Section 424(a) of the Code applies.