Tax Code definition
Examples of Tax Code in a sentence
Each Party hereto agrees to act in a manner that is consistent with the Parties’ intention that the Arrangement be treated as a reorganization within the meaning of Section 368(a) of the U.S. Tax Code for all United States federal income tax purposes.
The Trust may reject any purchase order, refuse to transfer any Shares, and compel the redemption of Shares if, (a) at the time thereof the Shareholder affected owns Shares equal to or in excess of a maximum percentage of the Shares of such Series or Trust determined from time to time by the Trustees, or (b) in the Trustees’ opinion, any such rejection, refusal, or redemption would prevent the Trust from becoming a personal holding company as defined by the Tax Code.
The Arrangement is intended to qualify as a reorganization within the meaning of Section 368(a) of the U.S. Tax Code and this Agreement and the Plan of Arrangement are intended to constitute a “plan of reorganization” within the meaning of the Treasury Regulations promulgated under Section 368 of the U.S. Tax Code.
No property owned by the Borrower is property which such Person is or will be required to treat as being owned by another Person pursuant to the provisions of §168(f)(8) of the Tax Code or is “tax-exempt use property” within the meaning of §168(h)(1) of the Tax Code.
The Borrower has not agreed to, nor is required to, make any adjustment pursuant to §481(a) of the Tax Code by reason of a change in accounting method initiated by the Borrower.