INTRODUCTION AND GENERAL DESCRIPTION OF THE OPERATION EQUATED WITH THE DEMERGER Sample Clauses

INTRODUCTION AND GENERAL DESCRIPTION OF THE OPERATION EQUATED WITH THE DEMERGER. The board of directors of Electrabel (hereinafter “Electrabel” or the “Demerging Company”, as further described under Section 2.1) and the board of directors of NuclearSub (hereinafter or “NuclearSub” or the “Acquiring Company”, as further described under Section 2.2) have in accordance with the provisions of Articles 12:8 juncto Article 12:59 BCCA, prepared this partial demerger proposal whereby a part of the assets of Electrabel, including all rights and obligations attached thereto, are transferred to NuclearSub, and this without Electrabel ceasing to exist nor being liquidated. Shares in NuclearSub will be issued to the sole shareholder5 of Electrabel as further described under Section
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