Tax Blocker definition
Tax Blocker means any Subsidiary of a Person that (a) is treated as a corporation for U.S. federal income tax purposes, and (b) has been formed and is maintained primarily for the purpose of making or holding investments all or a portion of the income from which, if any, is not expected to be described in Section 851(b)(2) of the Code.
Examples of Tax Blocker in a sentence
The Agent and the Lenders hereby waive each Event of Default, Default and breach of the Transaction Documents resulting directly from the Tax Blocker Transaction (the “Waiver”).