Common use of Corporate Restructuring Transactions Clause in Contracts

Corporate Restructuring Transactions. On or prior to the Distribution Date (but in all events prior to the Distribution) and subject to Section 2.06 below, each of Tenneco and Packaging shall, and shall cause each of their respective divisions, investments, Subsidiaries and Affiliates to, as applicable, take such action or actions as is necessary to cause, effect and consummate the Corporate Restructuring Transactions. Each of Tenneco and Packaging hereby agrees that any one or more of the Corporate Restructuring Transactions may be modified, supplemented or eliminated on or prior to the Distribution Date; provided such modification, supplement or elimination is determined to be necessary or appropriate (i) to divide the existing businesses of Tenneco so that Tenneco's packaging businesses and administrative services operations shall be owned, directly and indirectly, by Packaging, or so that Tenneco's automotive businesses shall be owned, directly and indirectly by Tenneco after giving effect to the Distribution, in each case so long as the ruling referred to in the following clause (ii) will not be adversely affected by such modification, supplement, or elimination, or (ii) to obtain a ruling from the Internal Revenue Service as described in Section 4.01(d).

Corporate Restructuring Transactions. On or prior to the Distribution Date (but in all events prior to the Distribution) and subject to Section 2.06 below, each of Tenneco and Packaging shall, and shall cause each of their respective divisions, investments, Subsidiaries and Affiliates to, as applicable, take such action or actions as is necessary to cause, effect and consummate the Corporate Restructuring Transactions. Each of Tenneco and Packaging hereby agrees that any one or more of the Corporate Restructuring Transactions may be modified, supplemented or eliminated on or prior to the Distribution Date; provided such modification, supplement or elimination is determined to be necessary or appropriate (i) to divide the existing businesses of Tenneco so that Tenneco's packaging businesses and administrative services operations shall be owned, directly and indirectly, by Packaging, or so that Tenneco's automotive businesses shall be owned, directly and indirectly by Tenneco after giving effect to the Distribution, in each case so long as the ruling referred to from the Internal Revenue Service as described in the following clause (iiSection 4.01(d) will not be adversely affected by such modification, supplement, or elimination, or (ii) to obtain a ruling from the Internal Revenue Service as described in Section 4.01(d).