Distributing Covenants. Distributing covenants to Controlled that no Distributing Affiliate will take any action or fail to take any action that would cause the Contribution or the Distribution to fail to qualify as tax-free under Code sections 355, 361 and 368(a)(1)(D) or any corresponding provision of state or local law. Without limiting the foregoing, Distributing covenants to Controlled that:
Appears in 5 contracts
Samples: Tax Sharing and Indemnification Agreement (Texas Industries Inc), Tax Sharing and Indemnification Agreement (Chaparral Steel CO), Tax Sharing and Indemnification Agreement (Chaparral Steel CO)