Exemption Request. Additionally, the Tax Benefits Preservation Agreement provides that any person who desires to effect any acquisition of Common Stock that would, if consummated, result in such person (together with its affiliates and associates) beneficially owning 4.9% or more of the then outstanding Common Stock (a “Requesting Person”) may, prior to the Stock Acquisition Date, and in accordance with the Tax Benefits Preservation Agreement, request that the Board grant an exemption with respect to such acquisition under the Tax Benefits Preservation Agreement (an “Exemption Request”). The Board will only grant an exemption in response to an Exemption Request if the Board determines, in its sole discretion, that the acquisition of beneficial ownership of Common Stock by the Requesting Person does not create a significant risk of material adverse tax consequences to the Company, or if the Board otherwise determines in its sole discretion that the exemption is in the best interests of the Company. Any exemption granted may be granted in whole or in part, and may be subject to limitations or conditions (including, without limitation, a requirement that the Requesting Person agree that it will not acquire beneficial ownership of Common Stock in excess of the maximum number and percentage of shares approved by the Board), in each case as and to the extent the Board shall determine necessary or desirable to provide for the protection of the Company’s tax benefits.
Exemption Request. The Franchisee seeking such an exemption shall submit a waste characterization analysis to the Director and conducted in compliance with any then current methodology of the California Integrated Waste Management Board, or its successor, agency as acceptable sampling methodologies. As to each specific account for which the Franchisee wishes to obtain an exemption, the waste characterization analysis must also include: the customer name, address, tonnage, a detailed description of the composition of the waste stream, and a statement as to why specific materials are unable to be diverted.
Exemption Request. Licensees required to have a Mandatory Meal Plan can seek an exemption, in unique circumstances, for documented medical conditions or a religious dietary observance, which requires a specific diet that cannot be accommodated by Coyote Dining.
