Examples of Newco I in a sentence
Parent, Newco I, Newco II and the Holders of Exchangeable Shares agree and consent that the financial statements of Newco I and Newco II shall not be required to be audited.
Upon notice from Newco I of any event which requires Newco I to cause to be delivered shares of Parent Common Stock to any Holder of Exchangeable Shares, Parent shall similarly contribute to Newco I or otherwise deliver to Newco I the requisite shares of Parent Common Stock to be received by, and issued to the order of, the former Holder of the surrendered Exchangeable Shares, as Newco I shall direct.
Parent or Newco I, as applicable, shall be entitled to deduct and withhold from any consideration otherwise payable under this Agreement to any holder of Exchangeable Shares or Parent Common Stock such amounts as Parent or Newco I, as applicable, is required to deduct and withhold with respect to such payment under the Income Tax Act (Canada), the United States Internal Revenue Code of 1986 or any provision of provincial, state, local or foreign tax law, in each case as amended or succeeded.
Newco II, at the request of Parent, Newco I or any ten Holders, shall call a meeting or meetings of the Holders of the Exchangeable Shares for the purpose of considering any proposed amendment or modification requiring approval pursuant hereto.
In the event of the exercise of the Liquidation Call Right by Newco I, each Holder shall be obligated to sell all the Exchangeable Shares held by the Holder to Newco I on the Liquidation Date upon transfer and payment by Newco I to the Holder of the Liquidation Call Purchase Price.
The Parties adopt this Agreement as a "Plan of Reorganization" of Newco I and the Company within the meaning of Sections 1.368-2(g) and 1.368-3(a) of the U.S. Treasury Regulations.
Parent and Newco I hereby jointly and severally grant to the Holders the Automatic Exchange Right in accordance with the provisions of this Agreement.
Nothing contained herein shall limit the right of a Holder to exercise the Exchange Put Right directly with Parent if Newco I or Newco II does not carry out its respective obligations under the Exchangeable Share Provisions or this Agreement to complete a redemption, retraction, liquidation or purchase of Exchangeable Shares in accordance with the terms and provisions hereof or of the Exchangeable Share Provisions.
None of the Parent, Newco I and Newco II shall, for at least six (6) months following the Closing Date, cause or take any action, corporate or otherwise, to cause the dissolution, liquidation or termination of existence of either Newco I or Newco II.
If Newco I fails to complete a purchase as aforesaid or Parent is unable to cause Newco I to so complete, Parent shall deliver such Exchangeable Share Consideration to complete such purchase within the time period required pursuant to Section 5.7 hereof.